Many consumers think that with practically every credit card all their purchases are interest-free for at least 25 days regardless of the previous balance. However, with the typical card nowadays, if you carry over as little as a penny from the previous month's balance you can expect to be charge interest immediately on new purchases. And, if you have a card with no grace period, you always pay interest on new purchases from the day you make the purchase, even if you pay your bill in full.
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Many consumers think that with practically every credit card all their purchases are interest-free for at least 25 days regardless of the previous balance. However, with the typical card nowadays, if you carry over as little as a penny from the previous month's balance you can expect to be charge interest immediately on new purchases. And, if you have a card with no grace period, you always pay interest on new purchases from the day you make the purchase, even if you pay your bill in full.