Introductory Rate

What is an introductory rate?

Introductory Rate Definition: An introductory rate is typically a promotion that’s extended to new customers or borrowers for credit card and loan products. It’s an incentive that may include waived fees during the first year or discounts on fees or charges for specific cards.

A temporary annual percentage rate may be reduced, or an incentive to transfer a balance from one credit card to a new account can be offered at no charge. The promotional period for an introductory rate may last for three or six months and include cashback offers, double reward points, and other perks.

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