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2 mins Read | 2 Years Ago

How to Make the Most of Your Credit Card Grace Period

Make the Most of Your Credit Card


We are sure you don’t like to spend your hard-earned money on credit card interests. We are also certain about this thing that everybody wants to save as much money as possible. Let’s find out how you can make the most of your credits card grace period.

Managing your bills is a daunting task, and when the credit card interest rates kick in, it just becomes more challenging to manage everything. To avoid getting into any credit card debt, you have the option of taking advantage of the grace period offered by your credit card provider.

One of the most popular banks that offer other services, including the grace period, is ICICI Bank. ICICI Bank credit cards are one of the most preferred in the market for the services that it has to offer. Let’s understand the interest-free grace period applicable on the credit cards.

Interest- Free (Grace) Period:

If you are using ICICI Bank Credit Card, the grace period usually ranges from 18 to 48 days. Let’s understand how the interest free period works:

For instance, if you have a credit card statement for the period ranging from 15th April to 15 May, the payment due date would be 2nd June. Let us assume that you have made paid a total amount due of previous month credit card statement on the said due date.

The grace period would be as follows:

If you buy anything on 24th April, the interest-free grace period will begin from 24th April and it will be last till 2nd June, i.e. 40 days. On the other hand, if a purchase 14th May, the interest-free grace period, then the interest free period will begin from the date of 14th May lasting until the due date.

Basically, the grace period varies depending upon the date of purchase. As a credit card user, if you have not paid any payment by the due date, then there is no interest-free period.

Tips to make the most of your credit card grace period

  • To use your grace period and avoid any interest charges, make sure your credit card payment is made on time every month.

  • Make sure you pay the total bill every month

  • If you are unable to pay your complete credit card statement, try to pay the minimum amount expected

  • The lesser your pending amount, the lesser the credit card interest rate.

What happens when you fail to pay the bill before the grace period ends?

Once the grace period is over and you still haven’t paid the whole bill, your credit card provider will take away your grace period privilege. Then, you will have to pay the bill before the cycle ends or else you will have to pay interest as soon as your bill cycle ends.

How to get your grace period privilege back?

All you need to do is pay all your credit card bills on time before the cycle ends. Your credit card provider will keep a close eye on your bill payment timings. After a few cycles of timely and complete credit card payments from your end, your credit card provider will likely reinstate your credit card grace period.


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