What is credit card introductory APR?

The introductory annual percentage rate (APR) is the rate offered to new cardholders for a specified period of time, such as 3 or 6 months. Often the introductory APR is much lower than the ongoing APR, but not necessarily. Details vary from one credit card to another.

The introductory APR can apply to new purchases made with the card or for balance transfers from another account, or even both. Users should research several credit card offers to see which one best fits their needs.