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FAB Credit Card Statement

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Using your credit card smartly is the only way to take advantage of their offered benefits. However, using your credit cards properly is not about using them as less as you can. Proper card management can include utilising a healthy credit limit, paying all dues on time, and avoiding any kind of late fees and charges. Besides helping you handle your card better, this can also help you increase your credit score exponentially.

Credit card statements aid the cardholders in the proper use of their credit cards. You can easily track your purchases, verify the charges levied, and maintain transparency with credit card statements. If you have a credit card from First Abu Dhabi Bank, you must get your credit card statements every month either in the net banking account or in your inbox. 

Let’s uncover what a FAB credit card statement holds for FAB credit cardholders and how you can read it properly. 

Key Terms in FAB Credit Card Statement

  • Available Card Limit: The available card limit refers to the remaining balance on your card after subtracting the due amount from the total credit card limit you have. This limit increases when you pay the due amount for the month. 
  • Transaction Date: The transaction date is the date on which your credit card was used to make a payment. This date may differ as per the settlement of the payment, with a difference of one or two days often observed. 
  • Statement Date: This is the date on which your FAB credit card statement was issued. 
  • Payment Due Date: It is the final date until which you can repay your credit card dues for the previous billing cycle. The term 'previous billing cycle' indicates the cycle being addressed in the FAB credit card statement that you are reading. 
  • Minimum Amount Due: The minimum amount due is the mandatory sum you are required to pay to avoid a late payment fee. 
  • Previous Balance/Statement: You will find the previous balance mentioned in the next month’s credit card statement for reference even if you have paid it in full already. 

Sections of Understand FAB Credit Card Statement

A FAB credit card statement is generally divided into a few sub-parts, with each part offering you a distinct type of information about your credit card account and the previous billing cycle. 

Account Information

Usually found on top of the statement, this section mentions:

  • Your Personal Info: The first section in this part contains your basic information such as your name, email address, and registered phone number. 
  • Your Account Number: The next entity here will be your account number. However, the bank can state the number in full or may only write its last four digits for security purposes. 
  • Address: Your residential address will be mentioned below your name here. 
  • Billing Cycle: The final thing in the account information section will be your billing cycle dates. These dates denote the period which is considered when preparing your dues for the month. Any transactions you make after the end date of your billing cycle are not included in the statement. 

Account Summary

This section gives a quick review of the previous cycle of your credit card. The following details can be included in the same:

  • Due Date of the Billing Cycle: The first thing you can note in your account summary section is the due date for your balance and the issuance date of the statement. The due date is the day when your repayment grace period ends. The interest is, thus, will be applicable on the due amount if you fail to repay the credit card balance before the specified due date. 
  • Previous Balance: This part mentions your previous total due balance, i.e., before subtracting any payments made and credits received. 
  • Payments Made & Credit Received: The next part will contain the total payment you made during the billing cycle and the credits that you received back. The latter part can include the payments that were refunded during the billing cycle. 
  • Additional Fees or Charges: Any interest charged on the account, balance transfer fee, cash advance fee, and other types of charges will be mentioned next. 
  • Overall Balance: This section will mention the final balance owed by you at the end of the billing cycle. This is the amount that you will need to pay before the due of the billing cycle arrives. 

Purchases

You will find a detailed description of all the transactions made by you in this section:

  • Transaction Dates: Generally, the exact date on which you used your credit card is viewed in this section. However, the recorded transaction date may be a day or two later than the actual transaction date as FAB credit card statements are computer-generated.  
  • Merchant Name: Besides the date of the transaction, you will be able to spot the merchant name as well. Each row will have the name of the merchant to whom the payment was made along with other specifics. 
  • Category of the Merchant: Your FAB credit card statement may also mention the category of the merchant. For instance, grocery could be mentioned for supermarket spending, retail could be mentioned for e-commerce websites, travel could be mentioned for flight and hotel bookings, and so on. 

Categories are crucial when reward credit cards are concerned. If the card offers reward points for grocery and supermarket expenditure, the categorisation of transactions will determine the number of rewards to be allotted for a particular billing cycle. 

  • Amount Charged: The last column in this section of your FAB credit card statement will include the amount paid for each transaction. The end of this section will present the total amount you have spent on your credit in the previous billing cycle. 
  • Monthly Instalment Information: If you have an ongoing equal monthly payment system on your credit card, a separate section will show details for it. This section will include the date of creation of the instalments, finish date, number of instalments, the due amount, monthly payment amount, and the pending number of instalments. 

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Reward Information

This section is applicable only if your FAB credit card is a reward credit card, cash back credit card, or simply offers loyalty benefits based on transactions. If your reward benefits are earned yearly, your monthly FAB credit card statement may not have this section. 

With that clear, let’s have a look at what the rewards information section may tell you: 

  • Previous Reward Balance: Any reward balance you may have right now will be shown here. It can be cashback or the reward points you have earned. 
  • The Rewards for the Current Cycle: The rewards that you have earned for the transactions of the previous cycle will be shown next. 
  • Rewards Redeemed: If you have redeemed any rewards, the next column will reflect that. 
  • Rewards Available for Redemption Now: Only a fraction of your reward points will be available for redemption at a time, with those points reflected in the last column in this section of your FAB credit card statement. 

Payment and Credit Information

  • Total Balance Due: This section will state the total amount that you need to pay for the previous billing cycle. 
  • Minimum Due Balance: This is the minimum balance that you will be required to pay to avoid a late payment fee. 
  • Available Credit: This section mentions the credit limit that you can utilise in the current cycle.
  • Paid Interest & Fees: Any interest or fee that you have paid will be mentioned in this section. 

Additional Charges – Interests and More

  • Cash Advance Interest: Interest that you are paying on cash advances will appear here. This is only applicable if you have taken any cash advance on your FAB credit card in the UAE. 
  • APR on Purchases: The interest rate applicable on your dues for purchases will be mentioned in this section. 
  • Balance Transfers: The interest rate applicable on the balance transferred to your FAB credit card in the UAE will appear in this section. 

Fine Print of the Account 

Contact Info: This part of the final section of your FAB credit card statement will contain the contact information that can be used to connect with the bank. 

The Explanation for Interest Rates: This final section may explain the different rates of interest mentioned in your FAB credit card statement. It may also contain other terms and conditions relevant to the credit card statement. 

How to Check FAB Credit Card Statement Online?

Via Net Banking

  • Visit the official net banking website of First Abu Dhabi Bank and log in with your customer ID and password. 
  • Head to the credit card section after logging in successfully. 
  • Select the card that you want the statement for and move forward. 
  • Scroll down and find the “Download E-statements” button. 
  • Click the button and download your statement with ease. 

Via Mobile Application 

  • Open the FAB mobile banking application using your customer ID and password. 
  • Head to the menu and find the credit card section. 
  • Select the credit card for which you want the statement. 
  • Scroll down and click on the download button for e-statements to download it successfully. 

Via Email Subscription 

Besides the methods discussed above, you can also opt to receive monthly e-statements in your email inbox. It should be noted that the statements will arrive only at your registered email address. Simply connect with the customer help centre of FAB to subscribe to this service. 

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Benefits of FAB Credit Card Statement

  • Easy Tracking of Payments: Being able to monitor your payments is one of the most essential benefits that you can avail of from reading your FAB credit card statement properly every month. Where you have spent, how much you have, and when were the transactions made – all such details are recorded in your credit card statement. Thus, you can not only track the day and time of the payment but also the merchant ID and the transaction ID.
  • Transparency of Operations: Monthly FAB credit card statements enhance banking transparency for both the customers as well as the bank. Getting a credit card statement every month can help you ensure that not only have you been charged fairly for the cycle but also that the bank has not levied any additional charges. 
  • Overview of the Expenses: Spending without consideration and tarnishing your budget planning is easy when it comes to credit cards in the UAE. However, your FAB credit card statement can help you avoid such scenarios by allowing you to maintain a stern eye on your expenses for the month. As a result, you will be able to easily create a budget and stick to it when your expenses are explicitly listed every month and sent to you. 
  • Information About Dues: While you can get information about your monthly dues from net banking and mobile application, your FAB credit card statement is the only way to get a detailed breakup of these dues. You will find the exact amount that you owe the bank for the current cycle, the amount owed from the previous cycle, as well as the interest levied on the overdue amount. 
  • Spot Fraud Transactions: Spotting fraud transactions is quite easy with FAB credit card statements at your disposal. These statements extensively list every expense to ensure that you get proper information about the merchant, the amount spent, and the time of the transaction. Consequently, you can easily spot if there is a transaction that wasn’t made by you or a merchant that you fail to recognise. 
  • Track Billing Errors: Since credit card bills are auto-generated by the bank’s system, billing errors are sometimes unavoidable. It can be difficult to detect small billing errors via statements available on the mobile application or your net banking account. A detailed monthly FAB credit card statement, however, can help you track these errors and have them rectified by the bank. 
  • Avoid Interest Spikes & Penalties: All the major and minor changes concerning your credit card account are recorded in your FAB credit card statement. If the bank has changed the due date of your card or the length of the billing cycle, your statement will reflect it. By carefully reading your credit card statement, you can track any changes in the interest charged for the card, fees and charges applicable, as well as the changes in due dates to avoid penalties. 

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FAB Credit Card Statement FAQs

What password should I enter to view my FAB credit card statement?

The password for your FAB credit card statement is your year of birth and the last four digits of your phone number registered with FAB. For instance, the password would be 19894598 if 1989 is your birth year and 4598 are the last four digits of your phone number. 

How can I download my FAB credit card statement?

You can download your FAB credit card statement via net banking or the mobile application of FAB.

What should I do to get a subscription to the FAB credit card statement?

Connect with the customer support cell of First Abu Dhabi Bank to subscribe to monthly credit card statements. 

What is the difference between the statement date and the billing cycle end date?

The statement date refers to the date on which you receive the statement or when it was issued. The billing cycle end date is the last day of your billing cycle. For example, your billing cycle end date can be the 28th of each month while the statement issuance date can be the 1st of the subsequent month. 

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