For example, personal statements that are linked to a specific charge or entry on an Experian credit report drop off automatically when that entry drops off, says spokeswoman Kristine Snyder.

Making time to review your statement each month can help you stay on top of any potential problems before they begin compounding against you.

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For example, let's say you spent $500 during a billing cycle, and another $50 after your cycle ends. When you receive your credit card statement, your statement balance will be listed as $500.