What is a deferred interest promotion?

There are numerous types of credit promotions that may apply to specific transactions. Merchants who accept the card determine which offers are available for purchases made at their location. Please refer to the advertising or offer disclosures provided to you at the point of sale for information about promotional financing offer(s) that may be available for a particular purchase.

No, Deferred Interest promotions accrue interest from the purchase date which will be billed to your account if the promotional balance is not paid in full within the promotional period.

No, Deferred Interest promotions are not the same as No Interest promotions. For Deferred Interest promotions, interest will accrue from the purchase date and will be charged to your account if the entire promotional balance is not paid in full within the promotional period. No Interest promotions do not accrue interest during the promotional period and may or may not charge interest going forward after the promotional period ends.

Yes, Deferred Interest promotions require a minimum monthly payment; however, these minimum payments are NOT guaranteed to pay the promotional balance within the promotional period. You may have to pay more than the minimum monthly payment to avoid accrued interest charges. This is important to do since if you don’t pay off the promotional balance within the promotional period, interest will be charged to your account from the purchase date.

Minimum monthly payments, based on a percentage of your account balance or a minimum amount, are required in accordance with the standard account terms. It is very important to note that the required minimum monthly payments may or may not pay off your purchase by the end of the promotional period. If you want to ensure that your purchase is paid before the end of the promotional period (to avoid interest), you should schedule additional or larger payments accordingly. See the Promotional Financing Examples section for payoff examples.

Pay your promotional balance in full before the end of the promotional period to avoid interest.

Interest will be charged to your account from the purchase date if the promotional purchase balance is not paid in full within the promotional period. Although interest will accrue at the standard purchase rate applicable to your account, it will only be assessed and added to your account as a lump sum at the end of the promotional period if the promotional purchase balance is not paid in full by the expiration date shown on your statement. To avoid paying interest, be sure to pay your promotional purchase balance by the expiration date.

There will be information on your billing statement about how long it will take to pay off your account if you only make minimum monthly payments.

One type of Revolving Credit is a credit card with a designated credit limit that can be used over and over to make purchases at any location where the card is accepted.