Discover it

The Difference Between Waived and Deferred Interest

This post is inspired by a friends’ recent request for advice.  A lot of the time, people see great offers for 0% APR.  We think,

Wowee, that’s great!  Now I can buy my [insert wonky overpriced consumer item here]!  It’ll be so cheap, since there’s no interest on the first year!

But wait, there’s more!

More interest, that is.  See, most of these offers are deferred interest, not waived interest.

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Discover it Credit Line Increase

I’ve had a Discover it card since August 2013.  It was my second card, after a $500 limit credit card from my local bank, but that was a long time ago, in a galaxy far, far away from my travel hacking life.

Anyway, when I first opened my it card, I was approved for a credit line of $2850.  I thought “Great!  Now I can put all my spending on here, and earn cash back for it!”  Well, this is exactly what happened, and my master plan worked great for a while.

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