{"id":10268,"date":"2024-01-03T23:51:33","date_gmt":"2024-01-04T04:51:33","guid":{"rendered":"https:\/\/myratecompass.ca\/blog\/?p=10268"},"modified":"2024-01-03T23:52:02","modified_gmt":"2024-01-04T04:52:02","slug":"what-is-the-grace-period-on-a-credit-card","status":"publish","type":"post","link":"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/","title":{"rendered":"What Is The Grace Period On A Credit Card?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#How_Does_A_Grace_Period_Work\" title=\"How Does A Grace Period Work? \">How Does A Grace Period Work? <\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#The_Benefits_Of_Having_A_Grace_Period_On_Your_Credit_Card\" title=\"The Benefits Of Having A Grace Period On Your Credit Card\">The Benefits Of Having A Grace Period On Your Credit Card<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#How_To_Get_The_Most_Out_Of_Your_Grace_Period\" title=\"How To Get The Most Out Of Your Grace Period\">How To Get The Most Out Of Your Grace Period<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#What_Happens_When_You_Miss_A_Payment_Due_Date_On_Your_Credit_Card\" title=\"What Happens When You Miss A Payment Due Date On Your Credit Card? \">What Happens When You Miss A Payment Due Date On Your Credit Card? <\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#Grace_Period_vs_Interest-Free_Period_Whats_The_Difference\" title=\"Grace Period vs. Interest-Free Period: What&#8217;s The Difference?\">Grace Period vs. Interest-Free Period: What&#8217;s The Difference?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"10268\" class=\"elementor elementor-10268\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0028cbc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0028cbc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a4a1762\" data-id=\"a4a1762\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f3ff68c elementor-widget elementor-widget-text-editor\" data-id=\"f3ff68c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>A credit card grace period is the time between the end of your billing cycle and the due date for your payment when you <strong>do not pay interest on purchases<\/strong>. This article covers everything you need to know about credit card grace periods in Canada, including definitions, common misconceptions, and how to utilize the grace period effectively.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52b90a6 elementor-widget elementor-widget-heading\" data-id=\"52b90a6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"How_Does_A_Grace_Period_Work\"><\/span><b>How Does A Grace Period Work? <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8dfb41c elementor-widget elementor-widget-text-editor\" data-id=\"8dfb41c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A grace period is an interest-free window that allows you to avoid paying interest on purchases. However, there are a few rules regarding grace periods:<\/p>\n<ul>\n<li><strong>The grace period only applies if you pay your balance in full <\/strong>and don\u2019t carry a balance each month.<\/li>\n<li>&nbsp;<\/li>\n<li><strong>Your grace period will vary based on the credit card issuer.<\/strong> The standard grace period in Canada is 21<a href=\"#_ftn1\" name=\"_ftnref1\"><\/a>days, but it could be more.<\/li>\n<li>&nbsp;<\/li>\n<li>You may have a <strong>longer time to pay off your bill depending on your statement closing date<\/strong> (end of billing cycle) and when your payment is due.<\/li>\n<li>&nbsp;<\/li>\n<li><strong>Grace periods only apply to purchases<\/strong>, not cash advances or balance transfers. These accrue interest immediately.<\/li>\n<li>&nbsp;<\/li>\n<li><strong>Not all credit cards come with a grace period<\/strong>. While many credit cards offer a grace period, it&#8217;s essential to read the terms and conditions of your specific credit card to confirm if this feature is available.<\/li>\n<li>&nbsp;<\/li>\n<\/ul>\n<p>If you\u2019re still unsure how the grace period works, consider the following example:<\/p>\n<p>Let&#8217;s say your billing cycle ends on the<strong> 15th <\/strong>of each month, and your credit card payment is <strong>due <\/strong>on the <strong>1st of the following month<\/strong>. If you pay off your entire balance by the due date, you will not be charged any interest on your purchases for that billing cycle.<\/p>\n<p>If you make a purchase on the 1st day of your <strong>billing cycle <\/strong>(e.g. the 16th), you will have a grace period of around 45 days (e.g. until the 1st of the next month) to pay off that purchase without incurring any interest charges. <strong>This is because new purchases will only appear in the next month\u2019s credit card bill<\/strong>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2770f2 elementor-widget elementor-widget-heading\" data-id=\"a2770f2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"The_Benefits_Of_Having_A_Grace_Period_On_Your_Credit_Card\"><\/span><b>The Benefits Of Having A Grace Period On Your Credit Card<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f58c9e elementor-widget elementor-widget-text-editor\" data-id=\"4f58c9e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Having a grace period on your credit card can offer several benefits:<\/p><ul><li><strong>It provides a window to pay off your balance without incurring interest charges<\/strong>. If you time it right, you get extra time to manage your finances, such as for emergencies or unexpected charges.<\/li><li>\u00a0<\/li><li><strong>You can use the grace period as a short-term loan<\/strong>. If you make a purchase at the beginning of your billing cycle, you have until the next due date to pay off that purchase. This can be particularly useful if you need to make a large purchase and want to spread out the payments over a couple of months without paying any interest.<\/li><li>\u00a0<\/li><li><strong>Having a grace period can help you manage your cash flow more effectively<\/strong>. It gives you time to receive your paycheck or any other income and use that money to pay off your credit card balance. This period can be helpful if you have an irregular income.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-583a17a elementor-widget elementor-widget-heading\" data-id=\"583a17a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"How_To_Get_The_Most_Out_Of_Your_Grace_Period\"><\/span><b>How To Get The Most Out Of Your Grace Period<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c139b7 elementor-widget elementor-widget-text-editor\" data-id=\"9c139b7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To make the most of your grace period and effectively manage your credit card balance, consider implementing the following tips:<\/p><ol><li><strong>Pay your credit card bill in full and on time every month<\/strong> to ensure you qualify for the grace period. This will help you avoid unnecessary interest charges and maintain a healthy credit history.<\/li><li>\u00a0<\/li><li><strong>Set up automatic payments<\/strong>. This can help you stay on top of your credit card payments and avoid late payment fees.<\/li><li>\u00a0<\/li><li><strong>Keep track of your billing cycle and due date<\/strong> to plan your payments effectively. This can help you time purchases to fully utilize your grace period.<\/li><li>\u00a0<\/li><li><strong>Use budgeting tools or apps to monitor your spending<\/strong> and ensure you can pay off your credit card balance in full each month.<\/li><li>\u00a0<\/li><li><strong>Use your credit card for necessary purchases only and avoid unnecessary debt<\/strong>.<\/li><li>\u00a0<\/li><\/ol><p>By following these tips, you can make the most of your grace period and effectively manage your credit card balance. This will help you avoid unnecessary interest charges, maintain a healthy credit history, and improve your overall financial well-being.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7af621 elementor-widget elementor-widget-heading\" data-id=\"f7af621\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"What_Happens_When_You_Miss_A_Payment_Due_Date_On_Your_Credit_Card\"><\/span><b>What Happens When You Miss A Payment Due Date On Your Credit Card? <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e5d8bda elementor-widget elementor-widget-text-editor\" data-id=\"e5d8bda\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>If you fail to pay off your credit card balance in full by the due date<\/strong>, you will lose the opportunity to benefit from the grace period and<strong> incur interest charges on your purchases. <\/strong>Additionally, missing your grace period can result in <strong>late payment fees and penalties<\/strong>.<\/p><p><strong>To get your grace period back<\/strong>, you will need to pay off your balance and demonstrate consistency for a few weeks or months.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09b7a66 elementor-widget elementor-widget-heading\" data-id=\"09b7a66\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><b>Grace Period vs. Interest-Free Period: What's The Difference?<\/b><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e1c771 elementor-widget elementor-widget-text-editor\" data-id=\"5e1c771\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The terms &#8220;grace period&#8221; and &#8220;interest-free period&#8221; are sometimes used interchangeably, but they have different meanings:<\/p><ul><li><strong>Grace period<\/strong>: This refers to the time between the <strong>end of your billing cycle<\/strong> and the <strong>due date<\/strong> for your payment. You can pay off your credit card balance during this time and avoid interest charges.<\/li><li>\u00a0<\/li><li><strong>Interest-free period<\/strong>: An interest-free period starts <strong>the moment you make a purchase<\/strong> and lasts until <strong>the end of your billing cycle<\/strong>. If you pay off your entire balance by the due date, you will not be charged interest on those purchases.<\/li><li>\u00a0<\/li><\/ul><p>In essence, the grace period is a subset of the interest-free period.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6fb1f2e elementor-widget elementor-widget-heading\" data-id=\"6fb1f2e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b2ef32 elementor-widget elementor-widget-text-editor\" data-id=\"3b2ef32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The grace period on many credit cards allows users to pay off their debts without incurring interest charges. Your grace period will depend on the credit card issuer, and if you pay your full credit card bill on the due date each month. <strong>When timed correctly, a grace period can even function as a short-term interest-free loan<\/strong>, allowing you more than a month to pay off your credit card debt.<\/p><p>By paying your credit card bill on time, utilizing budgeting tools, and being mindful of your spending, you can make the most of your grace period and avoid unnecessary interest charges. <strong>Now that you\u2019ve taken the time to understand the terms and conditions of credit card grace periods, you can use this service to your advantage.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span> A credit card grace period is the time between the end of your billing cycle and the due date for your payment when you do not pay interest on purchases. This article covers everything you need to know about credit card grace periods in Canada, including definitions, common misconceptions, and how to utilize the grace&hellip; <a class=\"more-link\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/what-is-the-grace-period-on-a-credit-card\/\">Continue reading <span class=\"screen-reader-text\">What Is The Grace Period On A Credit Card?<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":10270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[21],"class_list":["post-10268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-creditcards","tag-blog-post-template-1-main-template-to-use","entry"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card.jpg",924,924,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-300x300.jpg",300,300,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-768x768.jpg",750,750,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1024x1024.jpg",750,750,true],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1536x1536.jpg",924,924,true],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card.jpg",924,924,false],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1568x1568.jpg",924,924,true],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-250x250.jpg",250,250,true]},"post_excerpt_stackable":"<p>Table of Contents How Does A Grace Period Work? The Benefits Of Having A Grace Period On Your Credit CardHow To Get The Most Out Of Your Grace PeriodWhat Happens When You Miss A Payment Due Date On Your Credit Card? Grace Period vs. Interest-Free Period: What&#8217;s The Difference?Conclusion Reading Time: 4 Min A credit card grace period is the time between the end of your billing cycle and the due date for your payment when you do not pay interest on purchases. This article covers everything you need to know about credit card grace periods in Canada, including definitions,&hellip;<\/p>\n","category_list":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/creditcards\/\" rel=\"category tag\">Credit Cards<\/a>","author_info":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card.jpg",924,924,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-300x300.jpg",300,300,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-768x768.jpg",750,750,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1024x1024.jpg",750,750,true],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1536x1536.jpg",924,924,true],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card.jpg",924,924,false],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-1568x1568.jpg",924,924,true],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card-250x250.jpg",250,250,true]},"post_excerpt_stackable_v2":"<p>Table of Contents How Does A Grace Period Work? The Benefits Of Having A Grace Period On Your Credit CardHow To Get The Most Out Of Your Grace PeriodWhat Happens When You Miss A Payment Due Date On Your Credit Card? Grace Period vs. Interest-Free Period: What&#8217;s The Difference?Conclusion Reading Time: 4 Min A credit card grace period is the time between the end of your billing cycle and the due date for your payment when you do not pay interest on purchases. This article covers everything you need to know about credit card grace periods in Canada, including definitions,&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/creditcards\/\" rel=\"category tag\">Credit Cards<\/a>","author_info_v2":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num_v2":"0 comments","jetpack_featured_media_url":"https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/01\/What-is-the-Grace-Period-on-a-Credit-Card.jpg","_links":{"self":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/10268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/comments?post=10268"}],"version-history":[{"count":10,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/10268\/revisions"}],"predecessor-version":[{"id":10279,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/10268\/revisions\/10279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media\/10270"}],"wp:attachment":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media?parent=10268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/categories?post=10268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/tags?post=10268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}