All credit card companies do not follow the same type of grace period. However, a lot of credit cards will charge you interest right after a purchase is made (if there’s an outstanding bill). The best way to check how the grace period on your credit card works, and indeed if it has one is to check the reverse side of billing statements and the card agreement or terms and conditions. Terms such as ‘average daily balance including new purchases’ and ‘average daily balance excluding new purchases’ are pointers to a typical and full grace period respectively.
Asides from these pointers, a credit card issuer may not explain how the grace period works in full but you should be able to learn how long the grace period lasts and if you’ll start earning interest on new purchases right after a new purchase or on expiry of the grace period.
Recommended Pages
Similar Posts:
- Credit Card Features. How Do They Apply To You? August 27, 2010
- What is a Chase Sapphire Preferred Card? July 28, 2010
- Chase Slate Vertical Card – Introducing May 24, 2010
- 5 New Credit Cards – June 2010 June 17, 2010
- How to Avoid Common Balance Transfer Mistakes November 10, 2009
- Avoiding Christmas Credit Card Debt December 15, 2008
- How Credit Card Balance Transfers Affects your Credit Score November 28, 2009
Great posting you have, can’t wait for the next
Great site… keep up the good work.
Excellent site, keep up the good work.
I’m so glad I found this site…Keep up the good work I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say GREAT blog. Thanks,
A definite great read.
Thank you very much for this great blog post.
Cool site, love the info. I do a lot of research online on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks,
A definite great read…:)
Super-Duper site! I am loving it!! Will come back again – taking your feeds too now, Thanks.
I’m sure many of you are like me and one of the first things you do in the morning is head here and check out the new post. Along with seeing the new posts, I’m also always checking out the blog roll rss feed and watching them grow, or shrink sometimes. In one of my past… but all in all excellent site. Keep it up!
Hello, it really interesting, thanks.
This is a great blog, added to my bookmarks. Keep up the great work.
I absolutely agree with you.