Loans & credit
Grace period
Also known as: Interest-free period
The window between your credit card bill date and due date when no interest is charged.
The grace period is the time after your statement is generated during which you can pay in full without any interest.
It typically runs about 15 to 20 days after the billing cycle closes.
Miss it or carry a balance, and you lose the grace period on new purchases too, so interest starts from day one.
For example
A statement on the 5th with a due date on the 25th gives you a 20-day grace period to pay in full and owe nothing extra.