During the grace period, finance charges are assessed at only half the normal rate.

Name: During the grace period, finance charges are assessed at only half the normal rate.
Brand: Quizplus
Rating: 4.9 (57 reviews)

Question

Quizplus · Accepted Answer

The grace period is a time frame after the billing cycle ends but before the payment due date, during which no interest is charged on new purchases if the previous month's balance was paid in full. Finance charges are not assessed at all during this period, not at half the normal rate.

During the Grace Period, Finance Charges Are Assessed at Only