A recent change to my credit card terms gobsmacked me

[EdmondDantes_]

77. Did you read what you cited? Specifically the part in ()

What seems to have happened is that the card issue has decided to eliminate the grace period. Obviously without seeing their account/letter I can't say that for certain, but it's been available to credit card companies for as long as I know. Just because it was uncommon, doesn't mean it wasn't an option. It could be there now because the poster doesn't carry a balance (ie not profitable enough), it could be a wider change, or something else.

It might be new to the poster's card, but it's not new. I remember not understanding it years ago when I paid off a card and the next month got a bill for something like $1.29 of interest even though I had paid the total amount. The grace period between the end of the billing cycle and when your payment is due is only generally followed. Unfortunately our "agreements" with credit card companies are very one sided (so is pretty much any terms and conditions agreement) and so they can basically change the terms as they see fit.

From the CFPB in 2024 that demonstrates that the grace period is not required.

A grace period is the period between the end of a billing cycle and the date your payment is due.

During this time, you may not be charged interest as long as you pay your balance in full by the due date. Credit card companies are not required to give a grace period. However, most credit cards provide a grace period on purchases.

https://www.consumerfinance.gov/ask-cfpb/what-is-a-grace-period-for-a-credit-card-en-47/