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what is an Introductory APR Rate?

April 26, 2017Apr rate

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what is an Introductory APR Rate?

1 Answer

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10 Posted

APR stands for annual percentage rate- the interest rate the customer pays on the balance they carry. An introductory APR rate is a rate offered by credit card companies to new customers for a specified period. This rate is low or often 0% and it is applied to any type of balance transfers, purchasing and cash advances as detailed by the credit card companies.