Ahhhh, you open the mail and see an offer for a new credit card to your favorite store with a “deferred interest” promotion tag and you jump on it. Truly a blessing if you have decent credit and qualify for the perk! Imagine buying that slick pair of Yeezy’s with the iridescent look, and paying no interest for 6 months on the sticker price!
Well as the saying goes, “everything that glitters ain’t Gold.” Deferred interest means that the interest on your purchases is still being calculated in full, just hidden from you. If you don’t pay off the FULL balance in 6 months, the back dated interest in full will be charged to your account. Continue Reading