These are the different terminologies that you'll commonly see in your Virtual Credit Line app and e-Statement and what they mean
Available Credit Limit
The remaining amount you can utilise from your Total Credit Limit, calculated by subtracting the “Current Outstanding Balance” from the “Total Credit Limit”.
Current Outstanding Balance [Live]
The total principal amount you have utilised from your Available Credit Limit, including any rollover interest and late fees incurred, that remains outstanding. [Live]
Current Statement Late Fee
The S$100 charged when the ‘Minimum Due Amount’ is not paid by the ‘Payment Due Date’.
Current Statement Rollover Fee
The interest incurred on the non-payment of the "Total Amount Due" or "Statement Balance" before the "Payment Due Date" in the previous generated statements. After you enjoy an interest-free period of 25 days after the billing date for each new utilisation, a monthly interest rate of 2.5% will be applied to the outstanding amount due, calculated on a daily basis.
Current Statement Spend
The principal amount spent during the current month or statement period.
Minimum Repayment
The minimum payment required to be paid by the statement due date to avoid incurring a late fee.
Outstanding Principal
The total principal amount you have utilised from your credit limit that remains outstanding, excluding any rollover interest charges or late fees.
Repayment Made
The actual amount you've paid back in dollars.
Statement Balance
The total outstanding amount due inclusive of all unpaid principal and fees, up to the point of the last statement generation. It is also the amount you need to pay to make a full repayment.
Statement Balance (Accrued)
The total outstanding amount due inclusive of all unpaid principal and fees, up to the point of the last statement generation, plus the daily interest/fees accrued past the last statement generation date.
Total Credit Limit
The total credit limit approved on your Elevate Credit Line.
Unpaid Cumulative Late Fee
The total late fee incurred and unpaid up to the current date.
Unpaid Cumulative Rollover Fee
The total rollover fee incurred and unpaid up to the current date.
Unpaid Cumulative Spend
The principal amount that is unpaid and overdue from previous month(s) spend.
Utilised Principal
The total principal amount you have spent from your Available Credit Limit.
Trying to understand something that's not defined here? Ask us in a message — and we can add it to the list 😄
Elevate comprises six (6) main products offered by CardUp Pte Ltd, with some products being provided in partnership with third parties who will provide the regulated services under each product. CardUp is a major payment institution licence holder under the Payment Services Act 2019. Click here to Learn More.
CardUp Pte. Ltd.
Business Registration No.: 201536690R | Major Payment Institution License No.: PS20200484
FS Capital Pte. Ltd.
Business Registration No.: 201631787R
FS Technologies Pte. Ltd.
Business Registration No.: 201935125G