How The Grace Period Affects You
Before you apply for a credit card you will want to know what the grace period (also known as the free period) is.
The grace period is so named for the fact that if you pay your credit card in full each month, you will not be charged any interest.
Without the grace period, the credit card company can charge you interest from the day the transaction occurs, until it is paid in full.
Not too long ago some (most actually) credit card companies found themselves in hot water for not allowing their customers a reasonable time in which to pay their bills. They saw the “light” during a series of congressional hearings.
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