Are Interest Free Credit Cards Really Free Of Interest? : Every time you go to the mall, you can’t help but notice how many credit card companies try their best to lure clients by offering them the opportunity of having their very own Interest Free Credit Card or a credit card that offers zero interest when you use it.

But is there really such a thing like an Interest Free Credit Card?  Or is it just one of the banks marketing strategy to increase the number of their credit card holders?

Nowadays, department stores and other business establishment have promos that allow customers to purchase items from them through the use of their credit cards with the promise of not having to pay any kind of interest.  Card holders can avail of their different deferred payment schemes where they only need to pay the actual amount of the item they bought at zero interest as long as they pay based on the allowed paying period.

Deferred payment schemes with zero interest rates range from a minimum paying period of three months to twenty four months.  This kind of payment scheme is okay if you are financially-capable of paying on time each month.

So what happens if you don’t pay on time?  Does the offer of interest free still stand?  Unfortunately, the answer is no because once you miss out on even just one payment date interest starts setting in.  And once it starts, it never ends.

This is one major aspect of an Intrest Free Credit Card normally neglect to properly inform a prospective customer.  They keep on focusing on the interest free feature of the credit card and somehow forget to explain the reality that will happen if they fail to pay their dues on time.

So next time someone approaches you and asks if you have a credit card?  Just say yes and walk away.