Those who prefer to stick with the U.S. Postal Service are advised to not play it too close to the wire. Trying to gauge how long it takes a payment to reach the bank is a crapshoot. And holidays and inclement weather can delay delivery. Grace periods have gotten shorter. Fleet Bank went from 25 days to 20.
Federal law provides another potential stumbling block for the consumer.
Creditors who offer grace periods are required to mail bills only 14 days before the payment deadline. This means a bill could be due almost immediately after it is received if a customer wants to take advantage of the interest-free period to pay off their balance. Pay attention to collection times on mailboxes. If you drop a bill in a box on Saturday, it might not be picked up until Monday. Check your bill's due date against the calendar.