What is the grace period on your credit card?

Question

I read an article that said credit card grace periods are getting shorter. It said that the average grace period is 25 days. down from 30. and some cards its only 20 days. What is your grace period?

Hey hotto. read the question.

I know what a grace period is. its the time that you are not charged interest. According to 2 different articles the banks determine the grace period not the Law.

Answer 1

I believe it's 25

Answer 2

The time between when you make a purchase and when the money is due.

Let's say I buy gas on 6/2/07, then I receive a bill on 6/25, and its due on 7/2/07. The grace period is one month.

I disagree with the first answer that you got. If I want a longer grace period, say for a major purchase, I purchase the day after the bill gets mailed. Its the same cycle every month, so I know that they mail me my bill around the 10th.

Answer 3

your grace period is determined by the billing cycle by law. I f you have 30 days between billing cycles then you have a 30 day grace.