Credit Card Interest Rates

Credit Card Finance Charges

1. American Express Kingfisher Card:

(v) Interest Free (Grace) Period

Cardmember can enjoy up to 52 days free credit without any finance charges levied to the credit card account. This interest free credit can be availed only provided the amount outstanding, as shown in the monthly card statement, is fully paid/settled by the payment due date. This is not applicable to Cash Advance, Balance Transfer.

Illustration: Transaction Date: 2nd June, Billing cycle date 1st of every month, Payment due date: 22nd July, Interest free period = 22nd July – 2nd June = 51 days

2. ICICI Credit Card:

Interest Free Credit Period
18-48 days (applicable only on retail purchases and if previous month's balance outstanding is paid in full)

Perhaps means that if you already have a revolving amount from the last billing cycle, then the interest free credit period would not extend to any transaction made in this billing cycle either?

Questions:

If I have a 20000 outstanding revolve amount from last billing cycle and I have spent 20000 this billing cycle for which the due date is still not over, is interest charged on 20 or on 40 thousand?
What is non retail spend? Is entertainment, travel, car and other spend components non revolving and subject to interest immediately?

3. Citibank Credit Card

Interest Rate/Service Charge
•
Boarding Rate: i.e. in the first 12 months of Card issuance is fixed at 3.25% (monthly) or 39.0% (annual). This can change periodically based on your spend, payback and utilization patterns
•
The maximum interest rate, in the event of default, is 3.5% (monthly) or 42% (annually)

No talk of interest free period between transaction and due date.

4. Deutsche Bank Credit Card

Purchases: Interest will be charged to your account on the full outstanding balance (including previous and pending interest), if the total amount due is not paid before the due date. Also if the balance is not paid in full, all fresh purchases will attract interest from the day of the transaction.

So once you revolve, interest is charged on the entire transaction amount from day 1. There is an interest holiday only if there is no outstanding amount from the last billing period. The ans to the first question in DBs case would be 40K.