October 3, 2024
The Hidden Trap of Store Credit Cards: Deferred Interest Explained
Store credit cards offering “deferred interest” can be deceptively risky. While appearing to provide interest-free payment plans, failing to make minimum payments or fully pay off the balance by the promotional period’s end triggers high interest charges (potentially up to 27% APR) on the entire purchase. Millions of financially struggling Americans are particularly vulnerable to this trap. If already burdened by deferred interest charges, consolidating debt with a low-interest personal loan, potentially through a service like AmOne, can
