When it comes to mortgages and credit cards, as long as you pay by the end of the grace period, you aren't charged late fees, and your interest rate isn't adversely affected, though you are often considered a "slow pay" customer. When it comes to insurance, however, there is no grace period, and paying your premium even one day late can cause your policy to be canceled, and reinstatement may not be automatic. In addition, if you have to start a new policy, yo...
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