The grace period is a period of time before the credit card company starts charging interest. true false

The statement is true. The grace period is a period of time before the credit card company starts charging interest.

Explanation:

The grace period is a period that begins immediately after the deadline for fulfilling an obligation, during which no late fee is charged and no other sanctions are taken that would otherwise have been taken or charged for breach of the deadline. It is therefore a standstill period between the payment of the loan and the maturity of the first installment, during which neither interest nor principal are paid.

As a rule, banks offer credit cards with a grace period at “zero” percent for a short period, supposedly on favorable terms for customers, for example, those who open a deposit with a significant minimum amount. Additionally, banks include clauses on obligatory payments in the loan agreement, which make up a certain percentage of the loan taken, and also charge a percentage for cashing out funds on a credit card. As a rule, the amount of these percentages is more than the interest on the deposit, in order to exclude the placement of the bank’s funds on the client’s deposit.

the answer to fill in the blank in this question would be the word resource, it is defined as the money, material or people (since human resource is a very valuable good) that a company or a person has at disposition (meaning they can use the resource as they see fit), to be able to complete a task or achieve a goal.  

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