As the name 'Credit' Card suggests, these cards give you credit which is absolutely free for some duration if you have not committed any sin (of the three which we discussed earlier).
e.g. If my Credit Card statement is generated on 28th day of every month and my due date for payment is (typically) 18 days after that. Then I have these 18 days time period to park my funds somewhere else. This credit period of 18 days is absolutely free period for me if I pay by this due date.
Moreover, if I am smart enough to make a transaction on next day after the statement is generated i.e. on 29th, then this transaction will be reflected in the statement which will get generated on subsequent 28th. So in actual, for that transaction, I get a credit period of 31 plus 18 days which is quite high to be free.
Honestly, I have done this many times. I bought a Galaxy Tab for my Bro using above trick and enjoyed almost 45 days of interest on my money which was still lying in my account. In fact, in India at least, many transactions do not get reflected in Credit Card statement instantaneously. So many transactions which I do on 28th late afternoon or evening do not appear in the statement generated at the end of the same day.
Very small things but goes a long way to help you utilize your card effectively. Hope this point is clear.
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