The revolving account statement is a document sent by a lending organization to its client at a defined time interval, which shows all the transactions carried out.
A statement of revolving credit account to track its operations
Its detailed presentation provides a clear view of a customer’s revolving credit situation. The account statement includes all movements made on revolving credit, particularly for recurring operations related to credit. This document contains all the information provided for in the Consumer Code. It must allow the customer to have, each month, a precise idea of the situation of his revolving credit and visibility on upcoming deadlines the following month.
Arrangement of the account statement of the revolving credit
Whether on paper or electronically, there is different information on the revolving account statement:
- References of the customer’s revolving credit,
- the amount remaining due,
- the total amount of ready
- the amount available,
- the amount of the next monthly payment (capital, interest and insurance if applicable),
- the operations carried out, namely all the uses made since the last account statement,
- any card purchases with the accuracy of the amount of purchases made in cash so that the customer can, if he wishes, distribute them on credit ,
- the tariff conditions in progress,
- in some cases, an application coupon of transfer, to be returned by the customer who wishes to use all or part of its available,
- general information such as how to contact the financial institution according to its needs.
Administrative and legal importance of the revolving credit account statement
It is customary to keep his statements of account in paper form for 5 years, since they can be used for legal reasons, in case of litigation, in this period. They are a photograph of all movements on revolving credit.
In the digital world, like most financial institutions
Pre-finance offers a dematerialized version of its revolving credit account statement, more commonly known as e-statement. A notification e-mail is sent to the customer to inform him of the availability of his revolving credit account statement. The latter is available for consultation or download on the secure client area; it is kept in this space 36 months.