getting grace period back on Citi cards
May 21, 2017, 7:24 pm
#1
Original Poster
Join Date: Dec 2013
Location: California
Posts: 264
getting grace period back on Citi cards
Does anyone know exactly when a grace period is reinstated, on a card (specifically Citi Double Cash) that was previously carrying a balance? (I know this is a rare situation for us, but I had a 0% promo rate on purchases, which is ending soon; and I actually want to use the Double Cash for some purchases even after the 0% ends.)
The terms say you "won't have a grace period on Purchases again until you pay the New Balance in full by the payment due date 2 Billing Periods in a row."
The main thing I'm not sure about is whether the grace period applies to new purchases immediately after I make the 2nd full-statement-balance payment, or if it doesn't apply until after the current due date or after the current statement closes.
e.g.: 0% ends 6/1. For 4/14 statement, payment is due 5/10 and I pay the full balance from that statement on 5/9; for 5/12 statement due 6/10, I pay full balance 5/18. If I make a new purchase 5/18, will it have a grace period (i.e., after 6/1 it won't be charged any interest)? Or only purchases after the June statement closes will have a grace period?
(I also wonder whether the "2 Billing Periods" rule might not even apply if I have 0% interest, i.e., maybe they're just talking about avoiding interest on a previous finance charge. But to be safe I paid the full balance for 2 statements.)
(Funny side note: I called Citi to ask about this and they told me nonsense like "Citi cards don't have a grace period".)
The terms say you "won't have a grace period on Purchases again until you pay the New Balance in full by the payment due date 2 Billing Periods in a row."
The main thing I'm not sure about is whether the grace period applies to new purchases immediately after I make the 2nd full-statement-balance payment, or if it doesn't apply until after the current due date or after the current statement closes.
e.g.: 0% ends 6/1. For 4/14 statement, payment is due 5/10 and I pay the full balance from that statement on 5/9; for 5/12 statement due 6/10, I pay full balance 5/18. If I make a new purchase 5/18, will it have a grace period (i.e., after 6/1 it won't be charged any interest)? Or only purchases after the June statement closes will have a grace period?
(I also wonder whether the "2 Billing Periods" rule might not even apply if I have 0% interest, i.e., maybe they're just talking about avoiding interest on a previous finance charge. But to be safe I paid the full balance for 2 statements.)
(Funny side note: I called Citi to ask about this and they told me nonsense like "Citi cards don't have a grace period".)
Last edited by sbft77; May 26, 2017 at 12:57 am
May 21, 2017, 10:54 pm
#2
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e.g.: 0% ends 6/1. For 4/14 statement, payment is due 5/10 and I pay the full balance from that statement on 5/9; for 5/12 statement due 6/10, I pay full balance 5/18. If I make a new purchase 5/18, will it have a grace period (i.e., after 6/1 it won't be charged any interest)? Or only purchases after the June statement closes will have a grace period?
Then Citi has no excuse charging you interest.
Citi ranked last among all major credit issuers in term of credit card service. In that case, should you really have an expectation at all?