What Is a Credit Card Grace Period?


Quick Answer

A grace period is a period of time after a person makes credit card purchases and before the card issuer charges interest on the amount due. Not all credit card providers offer a grace period, but the typical grace period is 25 days, according to Fox Business.

Continue Reading
Related Videos

Full Answer

The card issuer must provide information about the grace period and related policies in the credit card contract or disclosures, according to legal website Nolo. Per the Credit Card Act of 2009, card issuers must mail statements to customers at least 21 days before the due date, thus allowing time for payments during the grace period.

Learn more about Credit & Lending

Related Questions