Credit cards with a grace period allow the credit cardholder to pay no finance charges if they pay the balance in full every month.

Question

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Credit cards with a grace period give the cardholder a certain amount of time (usually about 21-25 days) to pay their balance in full without incurring any interest charges. As long as the balance is paid in full within the grace period, no finance charges will be applied.

Credit Cards with a Grace Period Allow the Credit Cardholder