 TITLE: What Is Deferred Interest? CONTENT: Things to Consider With Deferred Interest Promotions\n----------------------------------------------------\nBefore you take out a deferred interest loan or credit card, here are a few things to keep in mind:\n*   Find out what the monthly payment will need to be to pay off the loan in full, before any deferred interest payments kick in. Double-check that the minimum payments will be enough to pay off the entire balance; if not, you'll need to pay more than that each month. Make sure this monthly payment will fit into your budget before you accept the offer. To be on the safe side, you may plan to pay off your debt a few months early.\n*   On the same note, ensure you're clear on the length of the promotional period and what the interest rate will be once it ends—that way if you're unable to pay off the balance before then, you'll know what interest rate to expect.\n*   Remember that even though you may not owe interest, you are still borrowing money that needs to be repaid. Phrases like \"no interest\" can make it feel like free money, but it's not; it's just paid back later.\n*   As you pay off deferred interest, check back in on your balance once you get a few months from the end of the term. If you worry your math was off and you're not sure you'll be able to pay off the rest of it before interest kicks in, you can always adjust your payments. END