<prompt> Human: Hi everyone, i just recently got my new credit card and began using it. I am having trouble figuring out how this whole statement thing works. Can someone explain to me like i am 5 how statements work. Also any advice you have for using a credit card would be great. thank you.  <response>: Biggest bit of advice: Pay off the statement balance in full when you receive it in the mail or email, before the due date. You pay no interest if you do so, and the balance is reported to the credit bureaus to build a payment history.Your statement is simply a list of charges made to your account before a certain date. Check them for errors andor fraud.Contingent on that first bit of advice is this little gem: only use your credit card for purchases you are going to make anyway. There is no such thing as free money unless you get 401k matches, and Im sure your bank would love to see you rack up a nice balance at 20 APR.Other than that, I dont have much advice. Best wishes on your new card. : 