The Chase Freedom grace period is 21 days after the close of a billing cycle, according to the card’s terms and conditions. Chase Freedom’s grace period gives cardholders at least three weeks to pay their statement balance in full before interest begins to accrue. The grace period ends on the payment due date, after which interest applies to any remaining balance at Freedom’s regular APR: 14.99% - 23.74% (V).
You can lose the Chase Freedom grace period if you don’t pay your balance in full during any given month. When the grace period is not in effect, new purchases accrue interest immediately after being made. To regain Chase Freedom’s grace period after losing it, pay the monthly bill in full for two months in a row.
Here are details on the Chase Freedom grace period:
- What it is: The time period between the end of a monthly billing period and the payment due date, during which no interest accrues.
- How long it lasts: 21 days after the close of the billing cycle.
- Where to find it: Each Chase Freedom statement includes a payment due date. That is the last day of the grace period.
- How to keep it: Pay in full every month.
- How to get it back after losing it: Pay in full for two consecutive months.
The Chase Freedom grace period is the same grace period used for other Chase personal cards, 21 days. Credit card companies are not required by law to have a grace period. If they do, though, it must be at least 21 days.
But the Chase Ink Business cards have a grace period of at least 20 days, rather than 21. Business cards are allowed to have grace periods below 21 days because they are not covered by the CARD Act, which created the grace period rules for personal cards.
Unfortunately, Chase Freedom may no longer be available to new applicants.
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