Introductory Rate
If this is your first time taking a financial product from a loan or credit provider, they will be quite likely to offer you an introductory rate. Basically the introductory rate is a sweetener to entice you to jump on board with them. It might give you an interest free period on a credit card, a fixed rate for a certain period on a loan, or an upper APR limit on a tracker mortgage.
Generally speaking, if you are offered an introductory rate on, say, a mortgage or other sizeable loan, you will be given a range of deals to choose from – you will be able to pick out the introductory rate that appeals to you most. If you can get it, just enjoy it, but be careful to read the small print to see what happens to the APR when the introductory rate expires - you may get a shock.
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