Whats the difference between interest free credit. and buy now pay later with no interest?

Question

for credit cards

Answer 1

Interest free is usually for 12 months. Pay later is 90 days same as cash.

Answer 2

The only difference is that it will show on your credit statement later.  In other words, the amount you are required to pay back to your credit card company will be lower for a while.  So the latter is slightly better.

Answer 3

I don't know of any 'interest free credit' - does it really exist? if someone is going to offer to lend you money, they sure as **** are going to get paid for it

'buy now...' lets say you walk into a store and leave with $1000 merchandise, no interest, no payments for 12 months.

1-you pay about $100/month and pay it off in under 12 months, you have paid $1000 for your purchase

2-you don't make a payment until you have to (12 months later) you will suddenly owe more than you purchased it for. During those 12 months it is still accruing interest then in that 12th month it is all tacked on in one lump sum. Then while you are paying it down, it is still accruing interest. You will end up paying about twice as much as the purchase price or more when all is said an done.

Answer 4

Is it  that one you pay in  so many instalments  ,  say 12  with no interest  and the other  you can  defer payment  for say  6 or 12 months  without interest  but pay it in one lump sum...