Wendy has purchased several furnishing items from a home decor store. She pays for the entire purchase through her credit card. Wendy has 21 days to pay back the amount to the issuer of the credit card. In the context of credit cards, the number of days Wendy is given to pay back the balance is called the _____.
A) grace period
B) face value period
C) vesting period
D) tie-up period

Question

Quizplus · Accepted Answer

The grace period is the time during which a credit card holder can pay off their balance without incurring interest charges.

Wendy Has Purchased Several Furnishing Items from a Home Decor