Glossary
Intro APR
An intro APR is a low or 0% interest rate a credit card charges for a set time after you open it, on purchases, balance transfers or both, before the regular APR applies.
Under the CARD Act an introductory rate must last at least six months (12 CFR 1026.55). Common 0% periods run 12 to 21 months. When it ends, any balance left is charged the regular APR from then on, not retroactively.
That differs from deferred interest, used by some store cards, where unpaid balances are charged interest back to the purchase date.
Work it out
Where you’ll see it on RateHerald
- 0% intro APR credit cards179cardsLongest 0% period first, then the lowest balance transfer fee. First today: U.S. Bank Shield® Visa® Credit Card, 0% for 21 months, 5% transfer fee.
- Variable card APRs today19.74–28.74%The prime rate plus a margin of 12.74 to 21.74 points, on the 11 cards whose terms state their margin over prime.
Related terms
- Balance transferA balance transfer moves debt from one credit card to another, usually to a card with a 0% or low intro APR, in exchange for a transfer fee of typically 3% to 5% of the amount moved.
- Deferred interestA promotion, common on store cards, where interest builds up quietly and is charged back to the purchase date if the balance isn't paid in full by the end of the promotion.
- APR (annual percentage rate)The yearly cost of borrowing as a percentage: on a credit card, the interest rate on balances you carry; on a loan, the interest rate plus certain fees.
Sources: CFPB: Regulation Z, 12 CFR 1026.55