Grace periods are one of the most consumer-friendly aspects of credit cards. A grace period is the time between the end of a billing cycle and the payment due date, usually around 21–25 days. During this time, if you pay your balance in full, you won’t owe any interest on purchases. However, if you carry a balance into the next cycle, you typically lose the grace period, and new purchases start accruing interest immediately. This is why experts emphasize paying your statement balance in full each month — it preserves the grace period and keeps interest charges at zero. Understanding this feature helps cardholders use credit cards as powerful tools rather than debt traps.