How long is Chase's credit card grace period?

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).... read full answer

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.

The Chase Sapphire Preferred grace period is at least 21 days. The grace period lasts from the end of each billing period to the payment due date. If you pay your statement balance in full every month, Chase will not charge any interest.

What you should know about the Chase Sapphire Preferred grace period:

• You are not required to pay the entire balance by the due date. But if you decide to pay less than the full amount due, you will lose the grace period.
• The remaining Chase Sapphire Preferred balance and any new purchases will then start to accrue interest that compounds daily.
• To get a credit card grace period back, you will need to pay the statement balance in full for two consecutive months.

Keep in mind that the Chase Sapphire Preferred grace period only applies to purchases. That means any cash advances or balance transfers you make will begin to accrue interest the day you make them. However, you should probably avoid these transactions either way. That’s because cash advances and balance transfers are both expensive with this card.

The Chase credit card late fee is up to $40, which applies when cardholders don’t make the minimum payment by the due date. Thanks to the CARD Act, the Chase late fee can never exceed the minimum payment amount.

Here’s what you should do in case your Chase credit card payment is late:... read full answer

If you accidentally pay less than the minimum required payment or you miss your Chase credit card due date entirely, you can always ask customer service to waive the late fee by calling (800) 945-2000. This is much more likely to work if you have a great payment history with Chase, but even if not, there’s no harm in asking.

To avoid getting hit with late fees in the future, make sure to pay at least your minimum required payment each month. The best way to ensure that you never miss a payment is by setting up autopay.