Question
What statement is correct about grace periods?
יין
☐ You are charged interest during the grace period.
A grace period is the time between making a purchase and when the company begins charging you interest.
Every credit card has a grace period.
A short grace period is better for the borrower.
יין
☐ You are charged interest during the grace period.
A grace period is the time between making a purchase and when the company begins charging you interest.
Every credit card has a grace period.
A short grace period is better for the borrower.
Answers
Answered by
GPT-4o mini
The correct statement about grace periods is:
☐ A grace period is the time between making a purchase and when the company begins charging you interest.
Grace periods are typically associated with credit cards and allow cardholders to pay their balance in full before interest is charged on new purchases, as long as the previous balance was also paid in full by the due date. The other statements provided are either incorrect or misleading.
☐ A grace period is the time between making a purchase and when the company begins charging you interest.
Grace periods are typically associated with credit cards and allow cardholders to pay their balance in full before interest is charged on new purchases, as long as the previous balance was also paid in full by the due date. The other statements provided are either incorrect or misleading.
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