A temporary 0% APR is a good way to attract new credit card customers. This type of APR is known as 0% promotional APR .
A 0% APR means that you pay no interest on certain transactions during a certain period of time. When it comes to credit cards, 0% APR is often associated with the introductory rate you may get when you open a new account. A 0% promotional APR may apply to a card's purchase APR or balance transfer APR or both.
A temporary 0% APR is a good way to attract new credit card customers as the average credit card interest rate is currently hovering over 17 percent, so a 0% APR period can help customer save a considerable amount of money on interest. When customer consolidate debt with a balance transfer credit card, paying down the balance is so much simpler because every penny customer pay goes directly toward the principal balance.
If customer know he has a large expense coming up, a 0% APR can make it all the more possible because customer can take his time paying it off.
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Answer: Introductory Rate
Explanation: Knowledge Matters ;0
