What is an introductory (or intro) APR?

An introductory annual percentage rate (APR) is a temporary APR that typically changes to a higher rate after the intro period (typically 3-12 months). Many people make use of these promotions to make a large purchase (or purchases), which they can then pay off in a series of months.

Some credit cards have an intro APR attached to only purchases, some have an intro APR attached to only balance transfers and some have an intro APR attached to both balance transfers and purchases.

Every credit card is a bit different and promotional offers often change, so be sure to thoroughly look over the terms and conditions for each specific card before applying.

What is a fixed APR credit card?

Fixed APR credit cards carry a fixed (stable) interest rate that typically lasts for as long as you use the card. For example, if you transfer a balance to a credit card with a fixed APR of 9.9%, the APR for this balance will typically stay at this 9.9% level until the balance is paid in full.

Some credit cards offer a fixed APR on only purchases, some offer a fixed APR on only balance transfers and some offer a fixed APR on both purchases and balance transfers. Many people choose a fixed APR card to ease the burden of constantly switching balances from one card to another once low intro APRs disappear and higher APRs take over.

Every credit card is a bit different and promotional offers often change, so be sure to thoroughly look over the terms and conditions for each specific card before applying.