GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
In a recentYouTube video, he explained why these deals are tricky andwhat you should watch out for.
Stores use these deals to get you to make big purchases without thinking it through.
If you cant pay for something in cash right now, Kamel thinks you probably shouldnt buy it.
This means you might end up paying more for the item than you would if you just paid cash.
They make these sound cheap by spreading the cost over your monthly payments.
But Kamel warned that this can add up to a lot of money over time.
This means youll end up paying interest even if you make all your payments on time.
You might lose your promotional rate, face late fees and even have to deal with debt collectors.
This way, youre not playing the lenders game and risking extra costs.
Kamel believes that zero-interest deals are designed to benefit the lenders, not the customers.
He wants people to be careful and think twice before signing up for these seemingly good deals.
Remember, if it sounds too good to be true, it probably is!
More From GOBankingRates
Share This Article:
