In the world of finance, there exists a concept known as a free credit period. This period, typically lasting between 20 to 50 days, is a time frame in which the card holder is not charged any interest by the issuing bank. However, once this period ends, the card holder is required to make payment for any purchases made using the credit card. Failure to make full payment results in the loss of this privilege, starting from the date of the missed payment. This is just one of the many important terms to understand when it comes to navigating the world of credit.
