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Old 07-16-2004, 08:46 AM   #4 (permalink)
maleficent
Junkie
 
Moderator Emeritus
Location: Chicago
Credit card answers from the Federal Reserve bank

It might differ from card to card, but it's the Grace Period that leaves you interest free.

The FRB had a pretty good defiition of the Grace period

Quote:
The grace period is the number of days between the statement date and the due date during which you can pay your bill without incurring a finance charge
Basically, if you want to but the laptop interest free - buy it on your statement closing date, and you've got 27 days or so to pay it off.
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