Jessica always thought the grace$-$period feature of her credit card was a wonderful idea because her charges were interest$-$free during the grace period. After

taking Dr$.$ Art Keown's personal finance course, she learned this startling truth about grace periods.

There are higher fees associated with grace periods.

Grace periods are actually beneficial to the credit card company.

Most banks eliminate their grace period on new purchases if you don't pay your balance in full.

All credit cards carry a grace period.