My credit card used to be the lowest repayment. Recently, I need to use a large sum of money to cash it. I wonder if there is an interest-free period for this cash.
(China Merchants Bank) The interest-free period means that you don't have to pay any interest if you pay off all the consumption money before the final repayment date. The length of the interest-free period will depend on the specific time you spend. If your consumption is before the current billing date, it will be included in the current bill, and if it is after the billing date, it will be included in the next bill. For example, your billing date is 5th, and the final repayment date is 23rd. Your consumption before December 5th will be included in the December bill, and you need to pay before December 23rd. If your consumption is after December 5th, it will be included in the bill on January 5th and paid before January 23rd. If you spend on December 5, you can enjoy the 5-day interest-free period when you repay on January 23.