What is the Discover card’s grace period?

Posted by CreditCardGuru

Q: Can you tell me the grace period for the Discover credit card?

A: Sure. You didn’t mention which Discover card you have, so I will go over the grace period for their most common cards. I’ve updated this info for 2013 but please keep in mind it could change at anytime:

Discover IT (new card for 2013)
This is their most popular card which gives 5% cash back in rotating categories. The grade period for the Discover More card is 25 days after a billing cycle closes (with the exception of billing cycles that begin in February, in which the grace period is at least 23 days).

Discover MoreĀ 
Same as above.

Discover Escape
This travel rewards credit card gives a full 2% rebate on every dollar you spend. Its grace period is the same as the More card.

Discover Miles
This is their no annual fee travel card that gives 1 mile per dollar. The same grace period rules apply.

Discover Open Road
It gives double cash back at both gas stations and restaurants. This Discover card’s grace period is the same as the above.

Discover Motiva
This card is actually geared towards those whom carry a balance. Same grace period applies.

Their grace periods are typical for a bank-issued, major credit card. On all of the above there is no grace period on balance transfer amounts, which is also standard practice in the industry.

Important:As with all credit cards, keep in mind the grace period only applies if you pay your balance in full. If you don’t, you will be charged interest going back to the dates of your purchases (these interest charges will be reflected on the next bill). A lot of people forget this and are left with sticker shock when they see the amount of their interest charges, because they thought that interest only starts after the grace period… that’s not the case if you don’t pay in full.

If you are carrying a balance on your Discover, you may want to consider switching it over using one of these 0% credit cards for balance transfers.


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