<prompt> Human: I got approved for a Citi ThankYou Preferred Card with a revolving credit line of 1500.Now I was wondering can someone just explain to me how the payments would work?Monthly do I only need to pay for what I spend?I do not know the interest yet it can be from 13.99-22I would mainly be using this for groceries and gas.  <response>: To add onto what others said. Statement balance does not equal account balance.Account balance is the total amount spent but not yet owed. Statement balance is what you owe by the due date before interest is charged. Pay the statement balance in full every single time. I was confused myself with my first credit card and kept paying off the entire account balance when I started. It makes no difference financially but its inefficient if youre trying to maximize your credit score. 