I received an offer from my card issuer to transfer balances from another credit card at a low rate. How long does the rate have to stay in effect?
The introductory rate has to stay in effect for at least six months. The card issuer is required to tell you how long you will have the introductory rate and what rate will apply after the introductory period. If the introductory rate is variable, it can change during the first six months if the index upon which it is based (for example, the “prime rate”) changes.
Ask CFPB provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically.
Ask CFPB includes links or references to third-party resources or content. The CFPB does not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.