nolesrule;519706 Wrote: 
> Deferred interest plans were not prohibited. But they can be risky if
> you don't know what you're doing and don't pay the balance off by the
> deadline..

Thanks for the info. 

Apparently some news reports, including the one I saw, were erroneous.
However, there have been some changes by the Fed on how they can be
advertised. The rules are much stricter now. 

See
http://ecreditdaily.com/2010/02/credit-card-laws-clarify-interest-ads-bans-0-term/


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