The New York Times: It’s Not Too Late to Rein In Holiday Spending

Retailers selling electronics, jewelry and home improvement materials often promote “deferred payment” credit cards, which let you purchase an item without paying interest for a year or longer. But steer clear of such offers unless you are sure you can pay off the balance by the end of the promotional period, said Chi Chi Wu, a senior attorney at the National Consumer Law Center. Otherwise, you’ll be charged interest — typically in the double digits — from the date of purchase, which can add hundreds of dollars to the cost of the item.

Most online retailers offer “buy now, pay later” plans, which typically let you choose to pay for purchases in four installments that are automatically deducted from your bank account. Ms. Wu advised caution in using them for multiple purchases at the same time. You could end up with several different payment dates. If you lose track and an automatic withdrawal overdraws your account, you could be charged an overdraft fee by your bank.

Chi Chi Wu, senior attorney at the National Consumer Law Center.