Arriving home from a one month trip a stack of mail is sitting on the kitchen table waiting to be sorted.  In some ways, it’s a bit of a relief to see that most of it are credit card offers and not bills.  For an instant that can be looked at as positive. Banks are asking to give you money instead of collect it  from you. Quickly you remind yourself that the giveaway comes at a high cost.  Credit card grace periods are the time between your statement date and the due date.  Paying past the due date can attach late fees or interest rate spikes.  It is a good idea from time to time to check your statements thoroughly.  You may find fees or adjustments that may be removed if you have a strong payment history.
Grace periods on mortgage and car loans are typically ten to fourteen days after the due date, unlike credit cards. Late fees are added on at that time. In all cases paying on time is the best way to go as it assures a lower cost of borrowing at later dates. Credit card interest rates can be based on your FICO score, a credit rating system originally known as Fair, Isaac Corporation. Here is an easy way to understand it all:

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