What is a grace period and how to use it

A credit card is a convenient financial instrument that allows you to make purchases even when your own funds are insufficient. A particularly attractive feature is the ability to use money without interest due to the grace period. Proper use of this option will help you to save significantly on interest and effectively manage your finances. At the same time, it is important to take into account all the nuances and peculiarities of using credit funds in order not to go beyond the grace period. By understanding how this convenient option works, you can turn your credit card into a profitable financial instrument.

Date of publication:29 April 2025

Last update:9 May 2025

Ihor Rizak

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What is a grace period?

A grace period is a certain period of time during which a credit card holder can use borrowed funds at a minimum interest rate. Usually, it is only 0.0001% per annum, which effectively allows you to use the credit limit without interest. Sometimes this option is called a grace period or simply grace. The main rule is that you must repay the amount spent before the end of the set period. 
A credit card with a grace period allows you to make purchases at the right time, without waiting for your salary or other income. This is very convenient for large planned purchases, provided you can repay the debt on time.

How the grace period on a credit card works

Globus Bank offers its customers a grace period of up to 62 days on the GlobusPlus credit card. This means that you can make purchases and pay for services without overpaying for the use of credit funds.
GlobusPlus credit card provides maximum flexibility in using the limit thanks to a convenient mobile application and transparent terms of service. The application allows you to track all transactions in real time and monitor your account balance.  

Learn more about the grace period

It is important to understand how the grace period works. If you use a GlobusPlus credit card, you have until the last day of the following month to repay the funds spent without interest.
For example, if you make a purchase on 5 October, you can return the funds until 30 November, and no additional interest will be charged. This gives you enough time to plan your expenses and save up to repay the debt. It should be borne in mind that each new purchase has its own grace period. Therefore, it is important to keep records of expenses and their dates in order to correctly calculate the repayment period. Globus Plus makes this process as convenient as possible with a detailed statement in the mobile application.

How to use the grace period correctly

Effective use of the grace period requires a clear understanding of the basic rules and principles. First of all, it is important to assess your financial capabilities and plan your expenses accordingly. Here are some recommendations on how to use the grace period in your GlobusPlus credit card: 
  • plan large purchases at the beginning of the month to have more time to accumulate funds for repayment;
  • remember that a separate fee of 4% is charged for cash withdrawals;
  • always have a backup plan for repaying your debt;
  • regularly check your account balance and transaction history.
Following these simple rules will help you make the most of your credit card.

How to control the grace period

To avoid missing the end of the grace period, follow these recommendations:
  • when you receive a credit card, find out about all the nuances of calculating the grace period from your bank;
  • make payments 2-3 days before the grace period ends.
The GlobusPlus mobile app provides all the tools you need to effectively monitor your expenses and repayment terms. Customers receive regular reminders of the next payment due date.
Wise use of a credit card means being able to make the necessary purchases when they are needed, without unnecessary overpayments. The main thing is to remember the repayment deadlines and make payments in advance, taking into account the time it takes for the bank to credit them. Regular monitoring of expenses and timely repayment of debt will help you make the most of all the benefits of your GlobusPlus credit card to be always in plus 🧡

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