It's a Trap! Avoid Those Zero Percent Interest Offers When Holiday Shopping

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It's a Trap! Avoid Those Zero Percent Interest Offers When Holiday Shopping

Dec, 17th 2016

Attention holiday shoppers: Zero percent interest often isn't free.

It can be a trap that will cost you dearly. So before being enticed by the zero percent interest you may be offered on a store credit card, notice the tiny print in the agreement and realize that the deal you think you are getting is probably trickier than you think.

"No interest sounds tempting now, but you could end up in the trap of huge interest payments later," said Chi Chi Wu, attorney for the National Consumer Law Center.

The center has been warning shoppers about what's known as "deferred interest," or the misleading promise that you will pay no interest on a store's credit card if you always make payments on time and pay the card off entirely by...

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