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Glossary
The following terms, organised alphabetically, are used within the cards industry. Here you will find simple explanations to help you navigate the jargon and specialist terminology.
| Grace Period |
The period of time during which interest will not be charged on any purchases made. In the UK this is usually between 40 and 59 days. If the credit card account balance is settled in full for the total outstanding amount inside of this period no interest will be charged (see also Interest Free Period). |
| Gratuity |
A customer may wish to leave a tip that is in addition to the bill for the service, e.g. when eating at a restaurant. |
