miércoles, 18 de marzo de 2015

What is the Grace Period and how you can destroy it..

It is quite simple: Credit cards have great benefits, but only if you use them wisely.

90% of people have no idea of what the Grace Period is and the sad part is that many of them simply don´t care about it.

Credit card companies make millions for the lack of this knowledge in most of their customers.

Grace period: Is the number of days you have to make a full statement balance payment without having to pay interest. You get this benefit when your card is brand new, but...

Here comes what many many people does not know: YOU CAN LOSE IT.

The way to lose your grace period with most Capital One credit cards is very easy:  By not making your full statement balance payment in one due date.

Once you lose the grace period the only way to get it back is by making a FULL PAYMENT and this includes the Current Balance, plus the interest in advance, plus the amount of any transaction scheduled to be posting before your next billing cycle date.

If seems complicated, you may call customer service and the will calculate it for you, this is what is called: The Payoff Amount. 

Keep your Grace Period, just dont spend what you can not afford to pay in full.


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