Paddy Sullivan, WalletHub Credit Card Advisor
@PaddySully
The Chase Freedom grace period is at least 21 days after the close of a billing cycle. 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 the card’s regular APR of 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.
What you should know about 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: At least 21 days after the close of the billing cycle.
- Where to find it: Check the payment due date on your Chase Freedom statement, as that is the last day of the grace period.
The same grace period applies for all Chase credit cards, not just for Chase Freedom. Credit card companies are not required by law to have a grace period. But if they do, it must be at least 21 days.
Ultimately, it is worth noting that the Chase 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.
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read full answerDoes the Chase Freedom Unlimited have a grace period?
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