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grace period … what is it as to a credit card?

[Friday, December 31st, 2010]

A grace period as to credit cards is a period of time you have to pay your credit card balance in full avoiding paying finance charges, so the longer a grace period the better for you. It usually starts on the billing date and ends in a definite number of days after. Depending on a credit card issuer grace periods vary, but usually are between 21 and 25 days. Keep in mind cash advances and balance transfers do not typically have a grace period. As for your new purchases there could also be no grace period if there is a balance already on your credit card. So have your billing statement mailed to you at least 21 days before interest charges would be assessed.

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AcclaimVisa.com is an independent, advertising-supported web site. AcclaimVisa.com is compensated by the credit card issuers whose offers appear on our site. This compensation can impact how and where credit products appear on our site, including, for example, the order in which they may appear within product listings. AcclaimVisa.com does not offer, review or present all available credit offers.

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