Weekly insights
Small, consistent steps that build stronger money habits.
Each week we share a short note you can read quickly and apply right away, with a focus on what matters most.
Insight of the week
Your credit card has an interest-free window. Most people don't use it right.
Every credit card has a grace period: the time between your statement closing date and your payment due date where no interest is charged on purchases. In Canada, this is typically 21 days. Pay your full balance before that date and you borrow money for free, every single month.
- - The grace period only applies if you pay the full statement balance. Carry anything over and interest starts accruing on new purchases immediately, no grace period until you're back to zero.
- - Your statement closing date and your payment due date are not the same thing. Check your card's app or statement to know both.
- - Used this way, a credit card is just a free short-term loan with rewards on top. The cost only kicks in when you let a balance roll over.