Regular APR vs. Introductory APR
Tuesday, June 17th, 2008
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How do introductory APRs differ from regular, or ongoing, APRs?
When comparing different credit card offers, it is important to be aware of some of the common terminology that is used on credit card applications and in the terms and conditions of each credit card offer. Two terms that show up often are “introductory APR” and “regular APR,” which is also sometimes referred to as “ongoing APR.”
An introductory annual percentage rate (APR) is a temporary, low APR that lasts for a specified amount of time and is attached to a specified type of transaction. For example, a credit card may offer a 0% introductory APR on balance transfers for the first 6 months.
A regular, or ongoing, APR is a non-introductory interest rate that is applied to balances on a credit card. All balances attached to an introductory APR eventually become subject to the regular APR of the card once the intro period expires. Regular APRs are usually listed as either fixed or variable.
More information: What is the difference between an Introductory APR and a Regular APR?
Still have unanswered questions? Visit our credit card tips and advice center for detailed information about dozens of topics related to applying for and using credit cards. Make your next credit card decision a knowledgeable one.
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