Cameron DiGiovanni, Writer
The Credit One credit card grace period is at least 24 days, from the close of the billing cycle to the payment due date. Not all Credit One cards have a grace period, and applicants won’t know if they have one until they check the terms and conditions after getting pre-qualified. Like with most other issuers, Credit One grace periods apply to new purchases but not to cash advances or balance transfers.
Grace periods on new purchases are important because they allow you to avoid interest, as long as you pay the statement balance in full by the due date each month. On the other hand, even if you pay your statement balance in full each month for a card with no grace period, you’ll still be charged interest because new purchases will accrue interest as soon as they are posted. Almost every credit card from the major card issuers has a grace period, and this should definitely be something you look for when applying for a new card.
If you get pre-qualified for a Credit One card with no grace period, you may want to consider applying for a secured card from another issuer instead. You’ll need to put down a security deposit, but many secured cards will make up for it by having a grace period, low fees, and rewards.
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