As we head into the holidays, Americans will be inundated with ads proclaiming “no interest for 90 days!” or “no payments until 2018.” Maybe those dates stretch out further, and maybe you’ll even see ads claiming no interest/no payments at all.
The array of marketing offers during the holidays seems endless. At the end of the day, “cheap,” “low” or “no” interest offers aren’t going to save the average person a single penny. And of course, the stores, banks and marketing companies know this.
Introductory rates expire, and offers promising no payments for a given amount of time usually tack on high interest rates quietly. They’re counting on you to buy more than you can afford.
“Never buy anything on credit that you can’t afford to pay cash for.” We’ve all heard it. But there are smart ways to use credit cards.