How does an interest-free period on purchases work?
When you have paid your last statement period closing balance in full, you will start your current statement period with a $0 balance owing, the interest-free period on your purchases will start on the first day of the statement period. If you have a balance transfer, you will need to repay the closing balance, excluding the balance transfer amount, by the pay by date.
To ensure you receive your interest-free period on your purchases, you will need to pay your current statement closing balance in full by its due date. You can find your statement period, closing balance and current payment due date on your credit card statement. If you have a balance transfer, you will need to repay the closing balance, excluding the balance transfer amount, by the pay by date.
If you miss the full payment for the current statement closing balance by its due date, you will have a balance owing on your credit card and you will lose your interest-free period on purchases. Your purchases in the current statement period will incur interest from the date of purchase. You will also start your next statement period with a balance owing and lose the interest free period on purchases for the next statement period.