Balance
Current vs Available Balance: How to Read Your Bank Account
Understanding the difference between current vs available balance helps avoid fees, prevent overdrafts, and build better credit. Learn how Cheers makes it easier.
Vince Adriatico
5 minutes
Balance
Statement Balance vs. Current Balance: What’s the Difference?
Confused about statement balance vs. current balance? Learn how they differ, why it matters, and how to manage your card to avoid interest and protect your credit score.
Aimee Cheng
5 minutes
Balance
Available Balance vs Current Balance: What’s the Real Difference?
Learn how available balance vs current balance differ, why they matter for everyday banking, and how to avoid common overdraft mistakes with smart money habits.
Aimee Cheng
5 minutes
Balance
What Does Current Balance Mean on Your Credit Account?
Learn what “current balance” means on a credit card or loan, how it differs from statement balance, and why it matters for your credit and finances.
Aimee Cheng
5 minutes
Balance
What Does Current Balance Mean and How It Affects Your Credit
Learn what “current balance” means on your credit card, how it differs from statement balance, and why it matters for your credit score and payments.
Aimee Cheng
5 minutes

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© 2025 Cheers Financial Inc. All rights reserved. See Privacy Policy | Terms
Cheers is a financial technology company and not a bank. Banking services are provided by Sunrise Banks N.A. Your funds are FDIC insured up to $250,000 through Sunrise Banks, N.A., Member FDIC. Results are not guaranteed. Improvement in your credit score is dependent on your specific situation and financial behavior. Failure to make monthly minimum payments by the payment due date each month may result in delinquent payment reporting to credit bureaus, which may negatively impact your credit score. This product will not remove negative credit history from your credit report. All loans are subject to approval.
¹ Accelerated Reporting:

Accelerated reporting applies to the opening of your account, plus the first payment. Credit bureau reporting occurs monthly thereafter.
² APR Comparison & Affordability:

Cheers Interest is calculated using an amortized repayment schedule at a fixed 12.15% Annual Percentage Rate (APR). Comparable products may charge APRs up to 36%, according to publicly available terms. Cheers also charges no administrative or hidden fees.
³ Credit Score Impact:

Based on internal user survey data (2023–2024), 95% of users with fair credit (580–669) saw a credit score increase of 20+ points after two months of on-time payments. Individual results may vary. Late or missed payments can negatively affect your credit.
⁴ No Hidden Fees:

There are no application fees, maintenance fees, or early cancellation penalties.
⁵ Cancel Anytime & Get Savings Back:

At the end of your term, your total savings (minus interest) is returned to you. You can cancel your account at any time without penalty.
⁶ FICO® Credit Factors:

According to FICO®, 35% of your credit score is based on payment history, and 10% is based on credit mix. Cheers reports every payment and adds a secured installment loan to your profile. Source: myFICO
⁷ Eligibility Criteria:

Must be at least 18 years old, have a valid U.S. bank account, and a Social Security Number. All accounts are subject to identity verification and consumer report review by the issuing bank, Sunrise Banks N.A., Member FDIC.
Style GuideLicensesInstructionsChangelog
Style GuideLicensesInstructionsChangelog