Beware this new type of credit card offer!

Can you spell "No Grace Period"? Pay the card in full on time, still get charged interest! What's that about?

There's a new type of credit card offer going around, and it's for a credit card with no grace period before they start charging interest. Which means that even if you pay your account in full before the due date, you'll still be charged interest.

Most credit cards allow you 21 or so days to pay after a purchase before you get charged interest. Not with these cards. The offer I'm looking at right now is from CreditOne, and the back side of the offer page says "We will begin charging interest on purchases or cash advances on the posting date".

There's a corner of your wastebasket reserved for these offers. Use it.

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