Introductory Period
What is an introductory APR?
An introductory Annual Percentage Rate (APR) is the low rate charged by a credit card company for a beginning period of time to attract new card owners. It is also called a teaser rate.
After the introductory period of time is over, the APR goes up to its usual rate. When you apply for a credit card, make sure you understand what the APR will really be once the introductory period is over. A card with a 0 APR or low interest rate in the beginning may not be the best credit card in the long run if the APR after the introductory period is over is too high.
See also:
What is an APR?
What is an introductory period?
What is the difference between a variable APR and a regular APR?
What is a default APR?
What are low APR credit cards / 0% APR credit cards?
Last update: 2006-09-25 17:21
Author: BKO
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