Chip Lupo, Credit Card Writer
@CLoop
Yes, the OppFi Card has a grace period of at least 23 days, lasting from the end of each billing cycle until the payment due date. If cardholders pay their OppFi Card statement balance in full every month, OppFi will not charge any interest.
Keep in mind that 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 OppFi Card balance and any new purchases will then start to accrue interest that compounds daily. To restore a credit card grace period, you will need to pay the statement balance in full for two consecutive months.
It’s also important to note that grace periods do not apply to cash advances.
People also ask
How do I do a balance transfer on my OppFi Card?
The OppFi® Card balance transfers let you shift high-interest debt from your current account to another issuer’s credit card and pay off the balance, presumably at a reduced interest rate.
For a look at some of the top balance transfer cards on the market, check out WalletHub’s Best Balance Transfer Credit Cards page.
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read full answer by Chip Lupo, Credit Card WriterDoes a one day late payment affect credit scores?
No. A one-day-late payment does not affect a credit score. A late payment won’t be reported to the credit bureaus until it is 30 days past-due – meaning a second due date has passed. This could also trigger a loan to default, depending on the type of loan and the agreed upon terms. If you pay before the 30-day mark, your credit score is fine. Anything later, expect a drop – generally between 60 and...
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