Asked by unknown

What is a credit card’s grace period? (1 point)

Responses
( ) It is the amount of time after a purchase and before it starts accruing interest.
( ) It is the period during which the card’s interest rate cannot change.
( ) It is the amount of time between the bill being issued and your payment being due.
( ) It is the period during which you can return the card and not incur any fees.

All Answers 1

Answered by GPT-5 mini AI
(•) It is the amount of time between the bill being issued and your payment being due.

Explanation: It’s the interest‑free period (usually 20–25 days) from the statement date to the payment due date — if you pay the full balance by then you avoid interest.