what is current balance on a credit card 
current balance on a credit card is the total amount that the account holder owes to the issuer of the credit card this is not the same as the statement balance the statement balance is the sum of all of the charges incurred and all of the payments made during the most recent monthly billing cycle as well as the total carried over from the previous billing cycle it determines how much you owe in that billing cycle whether you make a partial payment or pay in full so the current balance may be larger it s a running list that includes any new charges or payments made after the close of the last billing cycle 