If finance charges are not assessed on new credit card transactions during the period between the posting date and the due date,this period is called the ____ period.

Question

Quizplus · Accepted Answer

The period between the posting date and the due date where finance charges are not assessed on new credit card transactions is commonly known as the grace period. During this time, the cardholder has the convenience of using the credit card without incurring any interest charges as long as they pay off the balance in full before the due date.

If Finance Charges Are Not Assessed on New Credit Card