Holiday Shopping? Watch Out for This Costly Credit Card Trap | The Simple Dollar


As the holiday season gets into full swing, so too do the credit card promotions from retail stores far and wide.

This is prime season for enticing shoppers to sign onto the dotted line for cards that offer a discount on your first purchase or a special 0% introductory APR — which to many cash-strapped consumers can sound like an ideal way to finance a holiday extravaganza.

The reality of these deferred-interest retail credit cards however, is that they may not be as helpful as they sound at first blush. In fact, in many cases, signing on for one can cost far more than expected if you’re not clear on how the deferred interest proposition works.

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