What is a Statement Balance?
At the end of each monthly billing cycle, you will be issued a monthly billing statement, which will include your statement balance.
A statement balance represents the purchases on and money sent using your Pomelo Mastercard® during a set period, known as your billing cycle, which falls between 28 to 31 days depending on the month. Pomelo’s closing date for billing cycles falls on the 15th of the month.
Once your monthly billing statement is generated, the statement balance doesn't change until the billing cycle closes and you start a new one. Since Pomelo charges no interest, your statement balance must be paid in full by the 10th of every month following the closing date of the previous billing cycle.
What is a Current Balance?
Your current balance includes all outstanding transactions made with your Pomelo Mastercard® and your loved ones' cards. It is a real-time balance and will fluctuate over time, depending on transactions made. There is a chance your current balance may be a different amount than your statement balance. This may be due to a transaction that occurred after you were issued your monthly billing statement for the previous billing cycle.