What is a grace period for credit card payments?

A grace period for credit card payments in Delaware is an amount of time after a credit card bill is due in which the cardholder can still make the payment without incurring a late fee. This period usually lasts between 21 and 25 days, depending on the specific credit card issuer. During this time, cardholders are not charged any late fees or other penalty fees if their payment is made on time. However, if the cardholder does not make the payment within this grace period, they will be subject to the late fees and other penalties stated in the cardholder agreement. It is important to note that although a grace period is offered, interest charges will still accrue on the outstanding balance from the day the credit card bill was due. It is also important to remember that while a grace period may be offered, it varies from credit card issuer to issuer. Thus, cardholders should check their cardholder agreement prior to making a payment on their credit card in order to make sure that they are aware of the applicable grace period.

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What is a grace period for credit card payments?

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