I am considering purchasing some patio furniture from Kmart.com because they are having a sale. I was thinking of applying for their credit card and using the no interest option. Is there anything I should know before I apply or is there a better option?
Answered on Sunday, June 12th, 2016 by
Amy Miller

I would use caution whenever you see a no-interest option on a credit card. This is very different from a 0% APR promotional period on a traditional credit card. When the promotional period ends on a traditional credit card you will begin being charged interest on whatever your balance is at that time. When a no-interest period ends on a store card you will usually be charged interest on the entire purchase amount all the way back to when you originally purchased the item. You will also be charged interest on the entire original purchase price as well. This is usually a significant amount. It would be best if you used a traditional credit card with a 0% APR or another card with a lower ongoing interest rate. You could still buy the furniture there and get the sale price, I just wouldn’t advise using their card or any “no interest” financing option.

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