Capital One Interest-Free Grace Period

In May 2018, a class-action lawsuit was filed against Capital One for allegedly promising that its credit card provides consumers with an interest-free grace period without disclosing that consumers who fail to pay their entire balance by the statement due date one time lose the grace period on all future purchases, meaning that interest begins to accrue on purchases from the time they are made. (Dress et al v. Capital One Bank (USA), N.A., Case No. 18-cv-40064, D. MA.)

For more information about other class-action lawsuits filed against Capital One and TINA.org’s coverage of them, click here.