What Is Intro Balance Transfer Apr

An introductory apr is a low promotional interest rate that credit card companies often give new customers for a set number of months after they open an account. The teaser or introductory rate and the permanent rate. For example if your 0 intro apr offer was for balance transfers only then any new purchases on your card may be charged interest unless you pay off your balance in full each month by the due date.

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Not all credit cards come with this feature but those that do can be extremely useful during times of financial crisis.

What is intro balance transfer apr. But in general a balance transfer is the most valuable choice if you need months to pay off high interest debt and have good enough credit to qualify for a card with a 0 introductory apr on. An exceptional balance transfer card will have a longer intro apr and an apr of 0. A balance transfer intro apr is a period of time often between 12 and 21 months where you pay 0 interest on balances you transfer to a credit card. Bank visa platinum card because it has an intro apr of 0 for 20 months on balance transfers and purchases along with a balance transfer fee of 3 min 5 and a 0 annual fee.

Some cards come with an introductory balance transfer apr offer that you get when you transfer credit card debt to their card from an existing credit card. The best balance transfer credit card is the u s. In the case of balance transfers for example many cards will only honor the 0 percent apr for balance transfers made within so many days of opening the account. As a result there are typically two types of balance transfer apr on most credit card accounts.

Some credit card companies offer an introductory apr on balance transfers. Instead of getting a 1 99 intro apr for six months for example you could get a 0 apr for 10 months. A balance transfer apr is the interest rate you ll pay on balances you transfer to a credit card. With some cards if you incur a penalty fee by paying late or going over your credit limit the 0 percent intro apr may not apply to that fee.

A good balance transfer card will offer a low intro apr for a few months on the debt you transfer. Some credit cards offer introductory aprs on purchases balance transfers or both. If you transfer that balance to a credit card that offers a 0 percent introductory apr for 12 months on balance transfers the new card may charge a transfer fee typically around 3 percent of the balance. After the introductory period ends your balance and any new purchases will be subjected to the regular apr the national average as of june 24 2017 is 15 96.

Balance transfers are a common way of getting new customers to move to a specific card.