This Secret Will Help You Not To Get Tricked By Deferred Credit Cards

Since the holidays are fast approaching, a lot of people are now getting best deals in online stores. Unluckily, this is also the season where some people may take advantage of others and one of the most typical ways to do it is through trapping credit cards. It is also worth mentioning that there are millions of people living in the United States who has at least one or two credit cards but not everyone is aware of the deferred interest cards.


© The Grindstone

Most often, people think that credit card fraud is just the only way they could be victimized. They don’t realize that they could also get trapped into something that is even more intricate.

Deferred Interest Cards


©zinu credit repair

According to the research which was conducted by the WalletHub, about 82% of people who owns a credit card are not aware what deferred interest is or in case they do, they don’t actually understand it. On the other hand, those who know about it believe that it is illegal and those who commit this act must be put behind bars.

Just to clarify, deferred interest is usually offered when there is an immensely reduced rate and you won’t have to pay for the interest. This seems to be very appealing but it will surely bite you back since it may be added to the whole purchase amount and will be compounded for several months. The moment this happens, it ill appears as if there is no interest or awfully low interest never existed.

Customer with credit card paying worker digital tablet

© Discover

Nevertheless, this doesn’t really occur as you pay using your credit card because it typically comes and surprises you the moment your bill arrives. This typically transpires when you pay your bill later after the promo period is finished or you owe at least one dollar. It will then generate the deferred interest that can mysteriously turn into high-interest fees that you’re not aware of.

How To Use Deferred Credit Card Cleverly?


© Nerd Wallet

Many believed that some of the leading and well-known companies like Target, Costco, and others don’t offer deferred interest at all. Nevertheless, there are some other firms that may not offer it but are tempting their patrons to avail it or use one. But despite this, some experts have confidence that you can always outwit them by being attentive, watchful, and wise all the time.


©Video Blocks

Based on some financial experts who came from WalletHub, you have to ensure that the deferred interest credit cards will constantly work on your favor. The best possible method to do it is basically by putting it on your notices or alerts on your smartphone. You must set it at least the day before or during the exact day that the initial offer will expire and ensure to pay for it immediately.

In case you choose not to pay for it, then it will be on the other side’s favor. With that being said, you will wind up paying so much because of the high interest, which could be double or even triple than what you initially planned to pay.


You must always bear in mind that there are still other techniques to pay for your purchases and there is no need for you to use deferred credit cards. In case you own regular credit card then, it is advised that you use them instead, Aside from that, you may also opt to pay using cash since it can also be convenient for you as you don’t have to pay any interest in the least.


Lastly, if you don’t have enough money to buy certain gifts, then it is better for you to think of other inexpensive options instead. Remember the saying: It is the thought that counts. Also, the spirit of the holidays is not about how expensive your gift is, it is about spending your time with your loved ones, family, and friends.

Cover Photo Credits: