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General

Introductory APR

Financial term in the General category

Definition

A promotional interest rate offered to new cardholders, often 0% for 12-21 months on purchases or balance transfers. Reverts to standard APR after the intro period ends.

Related Terms

Balance Transfer

Moving debt from one credit card to another, typically to take advantage of a lower interest rate. Often includes a balance transfer fee of 3-5% of the transferred amount.

Frequently Asked Questions

What is Introductory APR?

A promotional interest rate offered to new cardholders, often 0% for 12-21 months on purchases or balance transfers. Reverts to standard APR after the intro period ends.

Why is Introductory APR important in personal finance?

Introductory APR is an important general concept that helps individuals make better financial decisions. Understanding Introductory APR can improve your financial planning and help you achieve your money goals.

How does Introductory APR relate to Balance Transfer?

Introductory APR and Balance Transfer are related financial concepts. Moving debt from one credit card to another, typically to take advantage of a lower interest rate. Often includes a balance transfer fee of 3-5% of the transferred amount.

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