The grace period is one of the great benefits of credit cards. It is an interest-free period, which card issuers extend as a courtesy before they start charging interest on new purchases. You can avoid paying any credit card interest at all, if you always pay off your credit card balance in full by the due date.
The grace period essentially lets you borrow money for free, even if it’s just for a short while, typically around 21 days. It enables you to consolidate lots of little purchases into one single payment, which is more convenient than having to write checks for every single purchase.
The length of the grace periods varies between card issuers, and not all credit cards offer a grace period. Here are six important points you need to know to make the most out of the grace period on your credit cards.
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