Grace period

On a credit card, the time between the statement and the due date when you can pay without interest on purchases.

Most credit cards give you a grace period, usually at least 21 days from the end of the billing cycle to the due date. Pay the full statement balance by then and you pay no interest on new purchases.

If you carry part of the balance into the next month, you usually lose the grace period, and new purchases start charging interest right away until you pay the balance in full again. Cash advances usually have no grace period.