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Credit Card Glossary - G

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Gold Card
Offers a larger line of credit that a standard card. Credit line is usually between $2,000-$5,000. Income requirements are higher, typically $35,000 at minimum. Gold card users receive extra perks and incentives such as travel service, rental card insurance and insurance for purchases.
Grace Period
Also called "free period." The interest-free period of time a lender gives between the transaction date and billing date, if there is no balance carried over from the previous billing cycle. Generally, the grace period is between 20-30 days. If your card includes a grace period, the issuer must mail your bill at least 14 days before the due date so you have enough time to pay. People who carry a balance on their cards do not receive a grace period and finance charges begin the date a purchase is made with a credit card.