The ‘interest-free period’ is a very commonly misunderstood concept when it comes to credit cards. Contrary to popular belief, an interest-free period DOES exist! You just need a few pointers. Here’s some help:
The Actual Period
The 44 (or 55) days begin at the start of your statement period and end when your payment for that purchase is due. In total, this interest-free period made up of the monthly statement period plus the time you get to pay your statement balance.
When To Start
Get a longer interest-free period by making purchases at the start of your statement period.
How To Keep It Going
Always pay your closing balance in full by the due date to avoid interest charges and retain your interest-free period in the next statement cycle.
To Each Their Own
Each person’s statement cycle is different. Check yours to see when your month begins.
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