Grace Period

Business / Taxes / Grace Period: A grace period is the number of days between the date a credit card issuer calculates your new balance and the date your payment is due. In most cases, if you have paid the previous balance in full and on time, and you haven’t taken any cash withdrawals, no finance charges are added to the amount of your purchases. If you generally pay the entire balance due on time, you may want to choose a card with a longer rather than a shorter grace period, assuming the other terms are comparable. That gives you more time to be sure your payments arrive on time. However, a minority of credit arrangements include a minimum finance charge, even if you do pay on time. Other lenders go back two billing cycles and will add finance charges if you have not paid the full amount due each time. The grace period on a student loan allows you to defer repayment so that the first installment isn't due until six or nine months after you graduate or are no longer enrolled at least half time. The timing depends on the type of loan. You also have a grace period in which to pay the premium on an insurance policy before the policy is cancelled. It's usually one month after the due date.

Other Words for Grace

Grace Verb Synonyms: elegance, gracefulness, suppleness, finesse, refinement, ease, polish, poise
Grace Noun Synonyms: tastefulness, (good) taste, cultivation, suavity or suaveness, culture, savoir faire, discernment, discrimination, (good) manners, politeness, breeding, consideration, decency, etiquette, tact, propriety, decorum, mannerliness
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Other Words for Period

Period Noun Synonyms: interval, time, term, span, duration, spell, space, stretch, while, patch
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Periodontal

Health / Dentistry / Periodontal: Relating to the tissue and bone that supports the tooth (from peri, meaning 'around,' and odont, 'tooth'). MORE

Periodization

Health / Fitness / Periodization: A method of organizing a strength training workout program into several periods, each lasting about four weeks. Each phase has a different emphasis. MORE

Periodicity

Business / Finance / Periodicity: The level of detail in terms of time at which data is forecast or reported, specified as months, quarters, or years. MORE

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