Key takeaways ; A purchase APR is the interest rate your issuer applies to your regular credit card purchases. ; Other APRs — such as an introductory APR or balance transfer APR — may take precedence over your purchase APR for a limited time. ; Knowing the purchase APR of each card you hold can help you make smart financial decisions by understanding the full cost of each transaction.
Learn how a 0 percent APR credit card can help you save money on interest and how to maximize its benefits in this guide.
Your purchase APR (Annual Percentage Rate) is the interest rate you pay for purchases you make with your credit card. ; Purchase APRs are either fixed (won’t change without advance notice) or variable (can fluctuate without notice). ; Having a good credit score can help you qualify for lower available APRs.
Low intro APR credit cards offer a competitive annual percentage rate on credit card purchases or balance transfers during a specified introductory period.
Save interest on big purchases with a 0% intro APR. Get zero interest for up to 15 months or more. Compare 0% intro APR cards of 2024 and apply.
Written by Garrett Yarbrough ; Edited by Courtney Mihocik ; Reviewed by Jason Steele
Table of Contents ; Best 0% introductory APR credit cards ; Pros and cons of introductory 0% APR credit cards ; What experts are saying about 0% APR credit cards
Key term, Definition ; Purchase APR, This is the interest rate applied to general purchases made with your card online, in person or over the phone. ; Introductory APR, This is a promotional interest rate for a limited period of time that is lower than the card’s regular APR, sometimes in the form of a 0 percent intro APR . It can apply to purchases, balance transfers or both, depending on the card’s offer. Once the introductory period expires, the regular APR applies to any balance that remains. ; Cash advance APR, This is the rate for borrowing cash with your credit card . A cash advance APR is typically much higher than your purchase APR. And cash advances don’t come with a grace period, which means it’s applied immediately after your transaction is complete. It’s also often applied to convenience checks.
Looking for the best 0% APR credit cards? Find out which options offer long intro periods, rewards, and perks to help you reach your financial goals.
Select reviews the ins and outs of 0% APR credit cards, when to apply for one and how to use them wisely to avoid interest on new purchases and debt.