An introductory rate, or intro APR, is an interest rate that a credit card issuer will use in an attempt to entice a consumer to open a credit card. The introductory rates are always much lower than rates available on the open market and at times will be as low as 0%. The introductory period normally lasts for 6 to 12 months. Once the introductory period is over, the interest rate will revert to an interest rate that could be much higher than standard market interest rates. Depending on the issuer, the introductory rate will be on either new purchases, balance transfers, or both.
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