Americans paid $130 billion in credit card interest and fees in 2022, according to a new report. Here are three strategies to help limit those charges.
After giving this a read, I don’t think anyone has anything to get upset over. Unless I’m misreading this, it’s just calling the time between your statement being sent to you and when payment is due the “grace period.” Definitely not what I initially thought.
That’s interest charged from the time you get your statement. Not from the date of purchase. Which means no interest for upwards of 51 days if there’s a 21 day grace period.
This isn’t the big deal you’re making it out to be.
Do you have an example of a card who’s interest is applied before month end? That sounds shitty as hell
https://www.capitalone.com/learn-grow/money-management/credit-card-grace-period/
A lot of them are now at a 21-day grace period.
After giving this a read, I don’t think anyone has anything to get upset over. Unless I’m misreading this, it’s just calling the time between your statement being sent to you and when payment is due the “grace period.” Definitely not what I initially thought.
That’s interest charged from the time you get your statement. Not from the date of purchase. Which means no interest for upwards of 51 days if there’s a 21 day grace period.
This isn’t the big deal you’re making it out to be.