What does it mean when a credit card company offers an introductory APR rate?

I wish I could find a deal like that! Having said that, I would be asking some very succinct questions before going ahead. There's usually no such thing as a free lunch!

If they are offering a zero or very low rate for some months it wouldn't be so great if they then turned into loan sharks later on, by charging a higher than average interest rate. She needs to find out how long the introductory period lasts and what interest rate they will be applying after that time. If it sounds ok, or even if it doesn't, assuming she already has a credit card, it might be worth contacting the existing company and telling them that she is going to swap unless they would like to match the deal.

A special introductory rate is an rate that will expire after a period of time. For example, if your friend receive a letter stating that the introductory rate offer was 2.99, the account holder would only be charged that percent on purchases until the period in question has expired. After the introductory rate has expired, the usual percentage rate will kick in and the account holder will then have to pay that rate for purchases going forward.

I can’t say whether or not I would advise her to pursue a credit card based on an introductory rate alone. I would advise her to investigate the normal APR on the card along with the available credit limit, the rate of balance transfer in case she needs to transfer balances from higher rate interest cards. I would also advise her to inquire if the card charges an annual fee just for carrying the card.

If you pay off your credit cards every month then they're all good deals. Introductory rate means she will pay no interest for a certain period of time. This gives her the time to run up the card and then after usually 6-12 months the interest rate kicks in.

You need to check what their rate is after the introductory period runs out compared to other cards. It would also matter how she pays the card. If she pays every month in full then the best cards are the cards that give points for gifts, but these also carry the highest rate.

If you want nothing from the card then go for the one with the low rate especially if you carry a balance. If she doesn't understand the letter maybe she shouldn't get a card she will get into trouble with. Good luck!

A special introductory rate is an rate that will expire after a period of time. For example, if your friend receive a letter stating that the introductory rate offer was 2.99, the account holder would only be charged that percent on purchases until the period in question has expired. After the introductory rate has expired, the usual percentage rate will kick in and the account holder will then have to pay that rate for purchases going forward.

I can’t say whether or not I would advise her to pursue a credit card based on an introductory rate alone. I would advise her to investigate the normal APR on the card along with the available credit limit, the rate of balance transfer in case she needs to transfer balances from higher rate interest cards. I would also advise her to inquire if the card charges an annual fee just for carrying the card.

The introductory APR of 0% is great. It means there will be no interest for a specified period of time. The credit card company offers this to try and draw people to getting their card.

After a certain time, the rate will go up to their normal rate. I would check to see if that rate is similar or lower than the rates are for other cards. If so, then I would get the card.

If their rate after the introductory period is higher, I would be careful and make sure if the card is used during the introductory period, that it's paid off before paying finance charges. In any event, I would try to pay as much of the balance, if not all each month if possible. I would always take a card with a 0% introductory APR.

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