Question

what is the purpose of a credit card grace period? to allow the cardholder to skip a payment without penalty to allow the cardholder to make purchases without any limit to allow the cardholder to avoid interest charges by paying off their balance in full to allow the cardholder to exceed their credit limit without penalty

Explanation:

The grace - period on a credit card is a time frame (usually 21 - 25 days) after the end of a billing cycle. If the cardholder pays the full balance within this period, no interest is charged on new purchases made during the billing cycle. It's not for skipping payments, removing purchase limits, or exceeding credit limits without penalty.

Answer:

To allow the cardholder to avoid interest charges by paying off their balance in full