Received my GAP VISA bill and noticed a statement on the bill that I had triggered a penalty rate. Called and found that this had occurred because I had been late on my payments twice in a calendar year, once in Feb 09 (1 day late) and once in Aug 09 (4days late). I have had this card since Nov. 07 with no other late payments. They also indicated that they have shortened their billing cycle to 23 days. I asked if they offered any grace period the response was that (in my case) they sent the bill on Aug 24th, due on Sept 16th and that thi... read full review »