Introductory rate
Credit scores & reportsA temporary lower interest rate offered at the start of a credit product.
Overview
Introductory rates are often used on credit cards and loans to attract new customers.
Once the intro period ends, the standard rate applies.
Why it matters
- It can reduce costs in the short term.
- You need to plan for the rate change.
- Some offers include fees or conditions.
FAQs
How long do introductory rates last?
It depends on the product, but the term is clearly stated in the offer.
Do I lose the rate if I miss a payment?
Some offers can be withdrawn if you miss payments.
Related terms
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