Grace period
The interest-free window on new purchases. You keep it only if you paid your last statement balance in full by its due date.
Carry a balance and you can lose grace: new purchases may start accruing interest right away, sometimes from the purchase date.
Pay in full, every cycle, to keep new purchases free.
Common questions
What is a grace period on a credit card?
The grace period is the stretch between your statement date and your due date - usually 21 to 25 days - during which new purchases do not accrue interest. You only get it if you paid your previous statement balance in full and on time. It is a reward for paying in full, not an automatic feature.
How do I get my grace period back after losing it?
Pay your full statement balance by the due date, then do it again the following cycle. Most issuers restore the grace period after two consecutive paid-in-full statements. Until it is back, every new purchase accrues interest from the day it posts, so there is no interest-free window to plan around.
Do cash advances and balance transfers have a grace period?
Almost never. Cash advances start accruing interest the day you take them, at a higher APR, plus an upfront fee. Balance transfers vary but usually have no grace period on new purchases unless the card is paid in full. Only ordinary purchases are normally covered.