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Question about Interest?

Frequent Contributor

Question about Interest?

When does the "grace period" start? Is it after the statement cuts?

AMEX BCE: 5k; Barclay Apple: 2.5k; BoA CB: 3k; BoA BBR 4.2k; BoA Travel: 8k; Chase Sapphire: 5k; Chase Freedom: 6k; Citi Diamond: 3k; Discover IT: 9k

June 2013 FICOs: TU: 763; EX: 754; EQ: 764 (was 747 9/2012). Last app 2/20/2014 Garden until 3/2015
Message 1 of 8
7 REPLIES
Super Contributor

Re: Question about Interest?


hutchj wrote:

When does the "grace period" start? Is it after the statement cuts?


The minute it says APPROVED Smiley LOL

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 8
Frequent Contributor

Re: Question about Interest?


myjourney wrote:

hutchj wrote:

When does the "grace period" start? Is it after the statement cuts?


The minute it says APPROVED Smiley LOL


LOL.

AMEX BCE: 5k; Barclay Apple: 2.5k; BoA CB: 3k; BoA BBR 4.2k; BoA Travel: 8k; Chase Sapphire: 5k; Chase Freedom: 6k; Citi Diamond: 3k; Discover IT: 9k

June 2013 FICOs: TU: 763; EX: 754; EQ: 764 (was 747 9/2012). Last app 2/20/2014 Garden until 3/2015
Message 3 of 8
Super Contributor

Re: Question about Interest?


hutchj wrote:

myjourney wrote:

hutchj wrote:

When does the "grace period" start? Is it after the statement cuts?


The minute it says APPROVED Smiley LOL


LOL.


Thought you would get a kick out of that

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 8
Valued Contributor

Re: Question about Interest?

lmao Smiley Very Happy



GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 5 of 8
Frequent Contributor

Re: Question about Interest?

Your grace period on a charge starts after you have been billed for said charge (statement cut).

Scores: EX - 769 (Amex FICO 5/21/16) TU - 763 (Discover FICO - 4/30/16), EQ - 795 (Citi FICO - 5/24/16)
Current Cards: Amex BCE - 10k, NFCU cashRewards Sig - 8k, Discover It - 10k, Citi Dividend WE - 8k, Chase Freedom - 4k, Chase Amazon Visa Sig - 4k
Last App: 3/4/2016.
Message 6 of 8
Frequent Contributor

Re: Question about Interest?


myjourney wrote:

hutchj wrote:

myjourney wrote:

hutchj wrote:

When does the "grace period" start? Is it after the statement cuts?


The minute it says APPROVED Smiley LOL


LOL.


Thought you would get a kick out of that


I did. Normally, I don't really even pay attention to due dates & when the statement cuts because I always make a payment when I get my paid. But with my new BoA BBR card, you have to let a balance post to each statement, so I'm trying to make sure I have all of my ducks in a row to make sure I pay no interest ever.

 

@JollehRoger Thanks!

AMEX BCE: 5k; Barclay Apple: 2.5k; BoA CB: 3k; BoA BBR 4.2k; BoA Travel: 8k; Chase Sapphire: 5k; Chase Freedom: 6k; Citi Diamond: 3k; Discover IT: 9k

June 2013 FICOs: TU: 763; EX: 754; EQ: 764 (was 747 9/2012). Last app 2/20/2014 Garden until 3/2015
Message 7 of 8
Highlighted
Frequent Contributor

Re: Question about Interest?


hutchj wrote:

myjourney wrote:

hutchj wrote:

myjourney wrote:

hutchj wrote:

When does the "grace period" start? Is it after the statement cuts?


The minute it says APPROVED Smiley LOL


LOL.


Thought you would get a kick out of that


I did. Normally, I don't really even pay attention to due dates & when the statement cuts because I always make a payment when I get my paid. But with my new BoA BBR card, you have to let a balance post to each statement, so I'm trying to make sure I have all of my ducks in a row to make sure I pay no interest ever.

 

@JollehRoger Thanks!


You have to pay the statement balance by the due date to not pay interest. 

Message 8 of 8