Introductory Credit Card Rates

Credit Card ManagementIntroductory Credit Card Rates

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As a way of getting your business many card companies will offer introductory rates on purchases or balance transfers or both for a fixed period or a given date, after which time the card interest will revert back to the Standard rate.

Things to look out for include:

  • The introductory expiry date – while this may be obvious you may get a shock when your card statement starts to show interest incurred at the standard rate of interest.
  • How the introductory rate is applied to your balance e.g. some card providers will only apply the introductory rate to transferred balances and not new purchases.
  • If you make a late payment or go over the credit limit is the introductory period forfeited.
  • Many companies will charge a fee for transferring balances e.g. 2% of the balance.

Under the banking code the credit company is required to inform you that an introductory period is about to end 4 to 8 weeks beforehand.

Disclaimer All credit card APRs, features, charges, benefits and other information listed by Fair Investment Company Ltd represent the most recent information available at the time of writing. Every effort is made to keep the site accurate, however we cannot guarantee that a credit card issuer has not increased or decreased one or more of the APRs or fees/charges associated with a particular card or changed its features, obligations or benefits. Please be sure to read the credit card agreement fully and carefully before making any agreement.

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