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4.2. Purchase rate offers

Some credit cards offer an introductory purchase rate that is lower than the standard purchase rate. Like balance transfer offer rates, this promotional interest rate only applies during the introductory period.

Purchase rate offers are ideal for people who want to save money on credit card transactions for a short period of time, but it’s important to also pay off the balance during the introductory period. Otherwise the interest rate will revert to the higher standard purchase rate or the cash advance rate.

TIP: Always check when the introductory period starts and ends for a new credit card.