What statement is correct about grace periods? A shory credit card has a grace period. A grace period is better for the borrower. begins charging you interest. You are charged interest during the grace period.

To determine which statement about grace periods is correct, let's analyze each option: 1. **A short credit card has a grace period.** - This statement is somewhat misleading. Not all credit cards have a grace period, and the term "short credit card" is unclear. Typically, grace periods apply to credit cards that allow a period during which you can pay off your balance without incurring interest. 2. **A grace period is better for the borrower.** - This statement can be considered correct. A grace period allows borrowers to pay off their balance without incurring interest, which can be beneficial for managing debt. 3. **Begins charging you interest.** - This statement is incorrect. A grace period is specifically the time frame during which interest is not charged on the outstanding balance. 4. **You are charged interest during the grace period.** - This statement is also incorrect. The purpose of a grace period is to avoid interest charges if the balance is paid in full by the due date. Based on this analysis, the most accurate statement is: **A grace period is better for the borrower.**