Reply
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: Credit Card "New Due Date" Changes

Grace period is the time between statement and due date. It's called a grace period because that's the minimum amount of time you can get an interest free loan if you've been PIF. You can have an interest free loan from your CC for up to grace period + 30 days or so (for charges posted the day after a statement cuts).
Regular Contributor
mrlimo
Posts: 153
Registered: ‎12-04-2007
0

Re: Credit Card "New Due Date" Changes

if you have 4 cards with statement dates 1 of every 4 weeks of the month. You can use the cards efficiently to maximize your grace periods. I use a 2 card system personally 1 on the 5th of the month 1 on the 15th of the month. My DW gets annoyed when I say use X card today. 1 year after this system she still does not get why...
 

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}