Paying with a card is an increasingly popular method for online shopping. However, many consumers are unsure about how their actual spending matches the advertised amount on their card statement. In this article, we will explain how to calculate the amount spent on a specific purchase using a payment card and provide an example to illustrate the process.

How to Determine Your Spending

To determine your actual spending on a particular purchase, you need to follow these steps:

1. Check Your Bank or Credit Card Statement: The first step is to review your bank or credit card statement for the transaction that occurred. This statement will show the date, time, amount, and other details of the transaction.

2. Identify the Transaction ID: Look for the transaction ID in your statement. This is a unique code that identifies the specific transaction. It may be located at the top or bottom of the statement, or within the transaction details section.

3. Use the Transaction ID to Check the Advertised Amount: Once you have the transaction ID, use it to check the advertised amount on your card statement. For example, if you paid $100 for a product on your card statement, but your bank only shows $95 as the total amount spent, you can use the transaction ID to verify that the advertised amount was correct.

4. Contact Your Bank or Credit Card Company: If you are still unsure about the advertised amount, contact your bank or credit card company. They can help you verify the transaction and ensure that you are not overpaying.

Example: Calculating the Amount Spent on a Specific Purchase

Let's say you purchased a $100 item on your credit card and your bank only shows $95 as the total amount spent. To calculate the amount spent, you need to follow these steps:

1. Review Your Bank or Credit Card Statement: Look for the transaction ID for the $100 purchase. It should be listed under the "Payment Details" section.

2. Identify the Transaction ID: You should find the transaction ID for the $100 purchase in your statement.

3. Use the Transaction ID to Check the Advertised Amount: Use the transaction ID to check the advertised amount on your card statement. In this case, the advertised amount is $100, so you know that you were charged $100 for the item.

4. Contact Your Bank or Credit Card Company: If you are still unsure about the advertised amount, contact your bank or credit card company. They can help you verify the transaction and ensure that you are not overpaying.

In conclusion, understanding how to calculate your actual spending on a specific purchase using a payment card is essential for maintaining accurate financial records. By following the steps outlined above, you can confidently verify the advertised amount on your card statement and avoid any discrepancies in your finances.