cancel
Showing results for 
Search instead for 
Did you mean: 

When intro APR expires, at one point does interates start to accrue?

tag
Anonymous
Not applicable

When intro APR expires, at one point does interates start to accrue?

So I have a BoA credit card with 0% intro purchase rate for the first 9 billing cycles. The 9th billing cycle cut on 9/9/2016, and the payment due date is 10/4/2016

 

So my question is, in order to avoid paying interests, do I have to pay off the balance by 10/4/2016?

 

Or, does the balance then get subjected to the grace period on the October bill, meaning I have until 11/4/2016 (or whenever the Nov due date is) to pay it off?

Message 1 of 3
2 REPLIES 2
gdale6
Moderator Emeritus

Re: When intro APR expires, at one point does interates start to accrue?

To avoid interest charge you need to pay the total new balance billed on 9,9  on or before 10/4/16

Message 2 of 3
NRB525
Super Contributor

Re: When intro APR expires, at one point does interates start to accrue?

If you wait until 10/4 you are probably paying interest from September 9 onward. The "grace period" was when you first made the charges 9 months ago, or during the first 9 cycles. Now that the 9th statement has cut, the interest started up on September 10.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.