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Tangerine cash back MasterCard
September 15, 2020
11:40 am
Adam1
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Rick said

Nice...was it a new application or did you upgrade?  

Upgraded from the regular one.

Adam

September 15, 2020
6:58 pm
Rick
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Adam1 said

Upgraded from the regular one.  

Is it possible that upgrades kept the 28 day grace period? Wonder if new applications also have the 28 day window.

September 16, 2020
7:28 am
topgun
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Rick said

Is it possible that upgrades kept the 28 day grace period? Wonder if new applications also have the 28 day window.  

Interesting you have a 28 day grace period.

I have a card that has 26 day grace period.
Statement date X.
Grace Period 26 days.
Days in statement month. Assume month February
Due date X+26 days-28=X-2 (i.e. March X-2).
If you pay by pre-authorized payment, the payment is withdrawn on March X-2. It is posted March X-1. One day before my next statement date. If you make the payment manually from your bank account on March X-2 the payment is posted March X-1. If you have a 28 grace period be sure to pay a couple days earlier in March. Have fun.

Have a Great Day

September 16, 2020
12:20 pm
Adam1
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topgun said

Interesting you have a 28 day grace period.

I have a card that has 26 day grace period.
Statement date X.
Grace Period 26 days.
Days in statement month. Assume month February
Due date X+26 days-28=X-2 (i.e. March X-2).
If you pay by pre-authorized payment, the payment is withdrawn on March X-2. It is posted March X-1. One day before my next statement date. If you make the payment manually from your bank account on March X-2 the payment is posted March X-1. If you have a 28 grace period be sure to pay a couple days earlier in March. Have fun.  

Which card is that? All my other cards have are 21 days, unless the due date falls on a holiday, then it'll get pushed to the next business day: like with my recent one from bmo, the statement was on August 16 (that day never changes) and due on September 8 (21 days +1 day because of the weekend and +1 day because of labour day.

Pre-authorized payments usually give me an additional business day before the money gets taken from my account since it's a direct debit, but it's always paid on time. (Extra 3 days "grace period" if my due date falls on a Friday sf-cool )

Adam

September 16, 2020
1:14 pm
topgun
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Adam1 said

Which card is that? All my other cards have are 21 days, unless the due date falls on a holiday, then it'll get pushed to the next business day: like with my recent one from bmo, the statement was on August 16 (that day never changes) and due on September 8 (21 days +1 day because of the weekend and +1 day because of labour day.

Pre-authorized payments usually give me an additional business day before the money gets taken from my account since it's a direct debit, but it's always paid on time. (Extra 3 days "grace period" if my due date falls on a Friday sf-cool )  

Capital One Mastercard no fee.
Not sure if every one they issue has the same grace period of 26 days.
If you like getting your statement on a particular day of month many issuers can change the statement date. You must consider if the benefits fit your lifestyle. Have fun.

Have a Great Day

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