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Deferred Interest Loans

Americans’ understanding of Deferred interest loans

It is common among deferred-interest loans that if there is an outstanding balance at the end of the 0% introductory period, retroactive interest based on the original loan amount is applied.
  • 57% surveyed were unaware of this
  • 16% thought the interest would only apply to the unpaid balance

Source: https://loans.usnews.com/articles/us-news-survey-about-55-percent-dont-know-that-a-missed-payment-hurts-your-credit

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