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Mid-Cycle PIF


Mid-Cycle PIF

Does anyone know the answer to this question:


If you carry a balance from the month before (ie don't PIF by the due date), and then PIF mid-cycle - are you still charged interest on purchases made following that PIF?


That is, are you only granted a grace period in months after a PIF is made before the due date?

Message 1 of 4
Established Contributor

Re: Mid-Cycle PIF

It's slightly different depending on the issuer, but if you don't PIF and use the card in the following month, new purchase charges will be subject to interest from the day of purchase. This will reset as soon as your PIFed statement closes (sometimes one month later).
Message Edited by Ulan on 06-13-2009 02:48 PM
Message 2 of 4

Re: Mid-Cycle PIF

Just dug through the T&Cs and found out that yep, this is in fact the case. Must PIF before due date to receive eligibility for grace period the next month, at least for Citi.
Message 3 of 4
Established Contributor

Re: Mid-Cycle PIF

who is the card form, if it's Chase you grace period will reset mid cycle last year I did a BT for 4 months they day my payment postd I call and asking if it was ok to use my card.


If I use card a again I would pay for the number of days in the cylce before  payoff , my grace period started the day of the payoff, turns my retroactive interest was only$1 and they credited right back to my account

People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Message 4 of 4