I read on this website the following:
Maximize Your Statement Cycle
The smartest way to use your credit card is to be sure to pay your balances in full and on time. However, you can actually take this to the next level and extend your interest-free time.
Any charge made the day before your statement closes will be due 20-25 days later. But if you make that same charge the day after your statement closes, then you have another extra 30 days to pay it without incurring interest. This means you can get an interest-free period of up to 55 days!
Can someone provide some more explanation on how is this possible and provide a clear example? Is this generally applicable or it works only on some banks/credit cards?