WHAT’S THAT 0 PERCENT RATE REALLY GOING TO COST YOU IN THE LONG RUN?

Papadimitriou, of CardHub.com, said consumers want to make sure that they understand how the rate could climb after the introductory offer and know exactly when those higher rates will hit a credit card balance.

Many times, some 0 percent promotions are viewed as a deferred payment, and double-digit rates might be charged back to the purchase date if you don’t pay the bill in full before the promotion ends, he said.

Consumers need to ask: Is that interest going to accrue on the purchase?

Deferred-interest products can be risky because good intentions don’t pay bills in full. In some cases, you’d owe interest going back to when you first made the purchase. So you risk not being able to get 0 percent in November and December.

Some of the promotions for these offers aren’t always specific, so it pays to call your card issuer and ask for detailed rules.

What happens if you’re late with a minimum payment?

If you’re late, many times the 0 percent introductory rate or limited 0 percent rate could end immediately, said Bill Hardekopf, of LowCards.com.

The Consumer Financial Protection Bureau in 2013 criticized deferred-interest rate programs and noted that 43 percent of borrowers with not-so-great credit did not pay off their balance before interest kicked in when they participated in a deferred-interest program.

The deal can work for people who carefully watch due dates, regularly pay bills on time and could have paid cash on the spot anyway.