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| Credit Card Terms Glossary |
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Glossary Of Credit Card Terms
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Our Glossary features an extensive collection of credit card related terms with their complete definitions. If you cannot find a term you're looking for, please contact us. We will respond to you with full explanation of the term. Upon further review, we'll consider adding it to our website. |
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Introductory APR |
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Short-term low interest rate (expressed as a yearly rate) offered by banks that serves as an incentive to their credit card offers. The interest rate will usually go up after a certain amount of time. Introductory APR can last anywhere from 3 months and up to 15 months from the time when a credit card was issued. It can be applied to purchases, balance transfers or both. Typically, Introductory APR is not offered for cash advances. In some cases, a low Introductory APR can be in effect for balance transfers and last until the whole balance is paid off. Introductory APR can be as low as 0% and as high as 9.99%.
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