Moneywise On Oneplace.com

Why don’t credit cards ever drown? Because they always have a float to keep them afloat!A little humor to start your day, but in reality, credit card float is no laughing matter—it can quietly put you one step behind financially and even lead to unexpected interest charges. Today, Chad Clark joins us to break down what credit card float is and how you can steer clear of its pitfalls.Chad Clark is the Executive Director of FaithFi: Faith & Finance and the co-author of Look at the Sparrows: A 21-Day Devotional on Financial Fear and Anxiety.What Is Credit Card Float?Credit card float refers to the period of time between when you make a purchase with your credit card and when you actually pay for it. Since using a credit card means borrowing money, this float period allows you to delay paying for purchases—often up to 55 days—without incurring interest, as long as you pay your statement balance in full by the due date.Let’s say you purchase a pair of shoes on January 1st, right at the start of your billing cy