Grace Period

Explanation: The number of days from the billing date of your last bill to the due date of your current bill when you can pay your balance in full without accruing finance charges. This period is generally from 20-30 days.

Grace period applies only to purchases.
Cash Advances and Balance Transfers do not have a grace period and therefore finance charges get assessed on the cash and balance transfer balances immediately.

Our Thoughts: -- If you do not plan to pay your credit card balance in full every month then: You should not care about the grace period since you will get assessed finance charges based on your daily balance, regardless of what the grace period is. -- If you do plan to pay your credit card balance in full every month then: You should care about the grace period since it is the number of days you will have to pay your bill in full without triggering a finance charge.