Grace periods continue to shrink as the nation’s #3 issuer modifies its policy. Starting in June, MBNA will end its grace period with the payment due date instead of the end of the billing cycle. As with many issuers, as long as you paid-off the balance before the end of the billing cycle you could avoid interest charges. Typically, the end of the billing cycle is a few days after the payment due date. The change is particularly troublesome for MBNA cardholders. Most of the top issuers enable cardholders to make same-day payments online or they post online payments with 24 hours. However, MBNA requires a two business day lead time for online payments. MBNA is also changing its late fee policy. If your late balance is more than $250 you’ll be hit with a $39 late fee. Additionally, MBNA has a default pricing policy, which means if you pay late you risk having your APR hiked to the stratosphere.