81artmonk
12-14-2007, 07:58 PM
I have a question regarding grace periods.
Most if not all lenders when they say your due date for payment is the 2nd of every month, provide a 15 day grace period in order to pay your bill without being late or incurring late fees
Is this a law or is it just lenders descretion. basically I have a dental credit card issued by GE money and they have no grace period which I just found out about becuase my payment was 1 day late past the due date and they acessed me a $30 late fee. They don't offer a grace period.
So I was wondering if this is a federal law or again just at the lenders descretion??
Most if not all lenders when they say your due date for payment is the 2nd of every month, provide a 15 day grace period in order to pay your bill without being late or incurring late fees
Is this a law or is it just lenders descretion. basically I have a dental credit card issued by GE money and they have no grace period which I just found out about becuase my payment was 1 day late past the due date and they acessed me a $30 late fee. They don't offer a grace period.
So I was wondering if this is a federal law or again just at the lenders descretion??