What is the average grace period to pay off the... - General FAQ

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » FAQs » General » What is the average grace period to pay off the balance on a credit card without being charged interest?

What is the average grace period to pay off the balance on a credit card without being charged interest?

Answered on
Add to Favorites:

When you make a purchase with your credit card, the issuer is required by law to provide a grace period during which you can pay off purchases in full without being charged any interest. The Credit CARD Act of 2009 states that credit cards must give customers a grace period of at least 21 days; most issuers give about 25 days.

However, the grace period requirement does not apply in all situations. There is usually no grace period for the following circumstances:

  • Cash advances – these almost always begin accruing interest right away, and usually at a higher APR than the interest rate for purchases.
  • Balance transfers – like cash advances, interest can begin accruing immediately, and at a different rate than the purchase APR.
  • Checks – if your credit card issuer sends you checks that you can use to pay bills or get cash, these also do not usually have a grace period, and a different APR may apply.

Also, if you carry a balance from one month to the next, the grace period requirement is dropped and interest will be charged from the day you make a purchase. Even if you leave a small portion of your balance unpaid one month, the next month your purchases will accrue interest from the time you make the purchase.

To avoid paying interest, pay off your entire credit card bill in full every month before the due date.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit

Other Questions in