Question 1

What's a deferred interest credit card?

Accepted Answer

A deferred interest credit card is a credit card that delays interest charges until the end of the deferred interest period. As with other deferred interest financing options, you may owe retroactive interest charges if you don't pay off your balance in full by the end of the promotional period. Retailers like furniture stores may offer a deferred interest store credit card. Hospitals, dentists, and veterinarians may also offer deferred interest health care credit cards for big expenses.

Question 2

How to avoid credit card interest charges

Accepted Answer

The simplest way to avoid interest charges on your credit card is by paying your statement balance in full every month instead of just the minimum payment due. That way, you won't owe interest charges unless you carry a balance into the next billing cycle. If you have a low introductory APR credit card, be sure to keep track of the introductory period and your remaining balance. It generally takes more than the minimum monthly payment to pay off your balance before the standard interest rate kicks in.

Question 3

Does Discover® offer credit cards with deferred interest?

Accepted Answer

No, Discover doesn't offer credit cards with deferred interest, though some applicants may qualify for a low introductory APR.

What Does Deferred Interest Mean?

Key Takeaways

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