According to a recent Card Hub study, more than 60 percent of the major retailers that offer financing use deferred interest plans. These provide an initial interest-free period yet retroactively assess finance charges on the original purchase amount if you don’t pay the full balance during the introductory term. It’s best to steer clear of financing offered by the likes of Amazon, Apple, Best Buy, Walmart, and Macy’s this year.
Richard Drew/AP/File
Shoppers at Apple's flagship store in New York, look at iPads and iPad Minis, on Black Friday last month. The merchandise may be cool, but the deferred interest plans offered by Apple and other retailers can trip up shoppers if they don't read the fine print.