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What is a credit card grace period? |
Answer
A "grace period," is an interest exemplary period; you can avoid paying interest on your credit charges if you pay off your credit card balance in full within this period.
Not all credit cards offer a grace period, Knowing whether you have a grace period is especially important if you plan to pay off your account in full each month. Without a grace period, the issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
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First answer by anonymous. Last edit by Jameslo. Contributor trust: 28 [recommend contributor]. Question popularity: 227 [recommend question]
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