Article: Winning The Credit-Card & Bills Game
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Winning The Credit-Card & Bills Game
Some banks are eliminating the standard 25 or 30-day grace period within which you may pay your bill within being charged interest. This is the normal grace period before interest kicks in. But this is slowly changing. For example, some banks are offering extremely low fixed rates, but without a grace period. These cards will charge you interest from the date it processes your charge slip.
If you usally pay your bills in full within the normal grace period, it is best you avoid no-grace-period cards. The 25 or 30-day garce period is more financially significant for you than a lower interest rate. However, if you carry a balance each month, you're better off with a lower interest rate. In this case, a lower interest rate can save you more money than a grace period would.
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