What is a deferred-interest promotional offer on a credit card, and what happens if you don't pay off the balance before the promo period ends?

• A. You pay no interest if paid in full during promo; if not, interest accrues retroactively on the entire purchase from the purchase date.
• B. Interest is waived for the first year only.
• C. Interest accrues at a higher rate during promo.
• D. Promo applies only to balance transfers.

Answer: (A)