Description

No interest no principal for 6 month?

## Wait, There’s a Minimum Payment on My “No Interest, No Principal” Purchases?! 🤯

So, I recently made two purchases with a tantalizing offer: **0% interest, 0% principal for 6 months.** It sounded amazing – buy now, pay later, essentially interest-free! I was stoked.

Fast forward to today. My new credit card statement arrives, and what do I see staring back at me? A **minimum payment due**. My jaw practically hit the floor. 🤔

**How could a minimum payment be due if I was promised 0% interest and no principal payments for 6 months?!**

Don’t worry, fellow confused consumers, I’m not letting this slide. I dug deep into the fine print (yuck, I know) and found the answer. It turns out that while interest and principal were waived for 6 months, there is **always a minimum payment due each month.** This minimum payment is usually a small percentage of your outstanding balance.

**The catch?** If you don’t pay at least the minimum amount due by the due date, you risk incurring interest charges and damaging your credit score.

**The bottom line?** Always, **ALWAYS** read the fine print before signing up for any promotional offers, no matter how tempting they seem. What seemed like a free ride on the “no interest, no principal” train ended up being a bumpy journey thanks to hidden minimum payment requirements.

**Learned my lesson,** but hopefully, this will help you avoid a similar surprise!

Let me know in the comments if you’ve ever encountered a similar situation.