It depends. If it's a promotional offer, you won't pay interest if it's 100% paid off within the promotional period. Interest builds up in the background (typically called deferred interest). If you owe 1-cent on the promotional balance after the deadline then you'll pay all that deferred interest.
Personally, I don't do promotional interest unless I'm sure that I can pay the balance off within the period. It sucks getting hit with a huge interest charge for deferred interest because you couldn't get the entire balance paid off in time. It's can easily be $100's if the promo balance was large enough
Most Helpful Opinions
No interest for 2 years is no interest for 2 years… you pay your monthly amounts without being charged interest. If you pay them off no interest if you don’t they tack on interest.
No interest for 2 years.
No interest for 2yrs. doesn’t mean max it out…lol
The aim is a good credit score so (use it once a month and pay off the balance in full every month that you use it) in about 1/2 a year your credit score will increase.
- s
Still required to make minimum payments, you just don't get charged interest on the balance until after 24 months.
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