Read the links below about various alternative ways to pay for items in the iTunes and App Stores.
- Create and add money to an iTunes Pass - "At Apple Stores and select retailers, you can add store credit directly to the Apple ID that you use for App Store, iTunes Store, and iBooks Store purchases." - https://support.apple.com/HT203021
- Redeem your App Store & iTunes Gift Card --> https://support.apple.com/HT201209
This is a user based forum, not official Apple Support. I have never heard of Apple offering a grace period but if you wish you can contact them and ask.
Click here --> https://support.apple.com/choose-country-region Select your country, then a product. If you don't see one that handles your issue then keep experimenting with selections until you reach one that gets you a chat session or a telephone call and get the representative to redirect you.
or:
Contact Apple for support and service --> "See a list of Apple phone numbers around the world."
Click here --> https://support.apple.com/HT201232