Question

Helen's credit card has an APR of 15.32% and a grace period of 17 days, and Helen pays her balance in full every month. If her last billing cycle ended on September 26, 2009, and she made her payment on October 11, 2009, did she owe any interest on her last statement's balance?

Answer 1

Helen should not owe any interest on her last statement balance because she paid her statement balance before the grace period was up. The grace period is just that, a period that allows people to have more time to get their payments taken care of before the posted date. In this case, there is a 17 day grace period.

Answer 2

No because she paid in the grace period