Card mechanics
Statement dates, grace periods, utilization and the other rules printed in the fine print.
What does paying only the minimum payment really cost?
Your statement is legally required to tell you how long the minimum will take and what a three-year payoff would cost. Where to find the box and how to read it.
Latest articles
12 articlesForeign transaction fees, and the currency question you should always answer the same way
Two charges apply when you pay abroad, and only one is your bank's. Real fees from six issuers on four continents, and the screen you should always decline.
Credit utilization: what actually gets reported, and on which day?
Your utilisation is a snapshot taken on a date you can see. What the bureaus receive, why paying in full does not always help, and how to move the number.
What counts as a cash advance, and why does it cost so much more?
Nine transactions your card agreement calls a cash advance, most of which look like ordinary purchases. What it costs, and how to spot one before you pay.
What happens if you close a card before the welcome bonus posts?
A card welcome bonus follows that issuer's offer: spend, then posting, with the account still open. Closing early is how the bonus is missed.
What is a grace period, how do you lose it, and how does it come back?
What is a credit card grace period? The CFPB rule: no interest on new purchases if you pay in full by the due date. How to keep it and get it back.
Statement date vs due date: which one actually runs your card?
Statement date (also called the billing or closing date) vs due date: what each one controls, why paying early helps, and the 21-day rule that protects you.
Why was my credit card declined, and what should I check first?
A card can be declined while the account is current and the limit is high. The six mechanical reasons, in the order worth checking, and what to do at the till.
How is credit card interest actually calculated?
Most issuers charge interest daily on each day's balance, then sum it. Why average daily balance, not the closing figure, sets the interest on your statement.
What does a credit card installment plan really cost?
Installment plans charge a fixed monthly fee instead of interest, so no APR is printed. Convert the fee into an effective APR you can compare with a balance.
Can you track your credit cards without linking a bank account?
Most card trackers ask for banking credentials. What that access grants, what a tracker needs instead, and what CardLab stores versus what it never asks for.
When does cashback lose to interest?
Cashback pays once on a purchase; interest charges daily on the balance you still owe. A dollar example of where they cross, and which to optimise first.