The ongoing APR you receive may be higher or your introductory period may be shorter.
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After the introductory period, purchases and transfers are subject to a variable APR currently between 12.99% and 22.99%.
So when that free or introductory period is up, this can be a very expensive option for financing your business.
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In this case, a low APR for the long-term could be more important than the length of the introductory period.
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The card also offers a 0% APR for an introductory period of 15 months on both balance transfers and purchases.
With the former, a borrower only pays the interest on the loan not the principal balance during the introductory period.
If you have a late payment, your introductory period will likely end and you will be assessed the ongoing APR on the transferred balance.
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In addition, that attractively low APR a credit card promises when you sign up will probably at least double after the introductory period is over.
In fact, I strongly believe any nascent technology that cannot exist without subsidies beyond an introductory period will not gain market penetration, and is not worth supporting.
It involves a tax break for widows and widowers that was made permanent by the American Taxpayer Relief Tax Act of 2012 after a two-year introductory period.
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Others have found that the introductory period is too short for them to pay the debt in full, so they end up paying an even higher interest rate after the intro rate ends.
Very often, balances on these introductory offers not only begin accruing interest after the grace period expires, they also charge back interest on the balance at the regular rate for all the no-interest months.
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Business Platinum Card, meanwhile, can see their low introductory interest rates spike if they are just three days late with payment twice in a 12-month period, far less than the 60-day notice period required under the Card Act.
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