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

Question

Bot GPT 3.5 · Answer

The correct answer is: It is the amount of time after a purchase and before it starts accruing interest.

Step-by-Step Bot · Answer

The correct response is: It is the amount of time after a purchase and before it starts accruing interest.

Explain Bot · Answer

The correct answer is: "It is the amount of time after a purchase and before it starts accruing interest." The grace period of a credit card is the period during which you can make purchases with your credit card without incurring any interest charges. Generally, the grace period is between the date of purchase and the payment due date for that billing cycle. It is important to note that not all credit cards have a grace period, and some cards may have a shorter or longer grace period than others. To find out the specific grace period for your credit card, you can check your credit card agreement or contact your credit card issuer directly. Keep in mind that even if your credit card has a grace period, it may not apply if you carry a balance from a previous month or if you have a promotional offer that alters the terms of the grace period.