Jim Charter wrote:
> Darren New wrote:
> 
>>
>> More specifically, see what your grace period is and what your monthly 
>> billing date is. Sign up for on-line bill paying at your bank. 
>> Complain at them if it isn't free, or at least if it costs more than a 
>> stamp.
> 
> 
> Yes I have to understand this grace period concept better.  I was under 
> the impression that at say midnight of the day of the due date which is 
> I think the 15th of the month, if I happened to have an amount owed 
> showing, then I would be charged interest.

I believe it's a law in the US that you have at least one billing cycle 
before interest is charged.  That is, if your bill comes every 30 days, 
then they can't charge interest on something until 30 days after you've 
charged it, no matter when your bill comes.

That's why so many people don't care about the interest rate on their 
credit card: they pay off the balance every cycle, so they never get 
charged any interest :)

...Chambers

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