Grace Period


A period when cutting-off the credit card (bill)

‘Grace period’ is a period when cutting-off the credit card (bill), which is also a period when the cardholder must pay for the cash that the financial institution have already paid first in place of the cardholder. The term of a ‘grace period’ depends on what financial institution determines. If paying for the payment balance after the grace period, the financial institution will charge an interest depending on the amount spent.