 TITLE: What Are Introductory Credit Card Rates? CONTENT: How Your Monthly Statement Cycle Works\n--------------------------------------\nAn introductory rate will lower (or bring down to zero) your interest charges, but it doesn't change how your monthly statement cycle works. You'll still need to make at least the minimum payment each month, or else face consequences.\nAn important thing to consider with any card that has a promotional rate is how and when interest accrues. Your new credit card may, for instance, have a promotional 0% purchase APR that applies when you buy things, but no such relief for interest charges on balances you transfer to the card. In this example, you won't be charged interest on your purchases until the end of the introductory rate, but any balance amount you transfer will immediately still start to accrue interest.\nThe opposite can happen if you open a balance transfer card that offers a promotional 0% APR on balance transfers but not on purchases. Unless you pay off the entire balance (from both the purchases and transfers) in full, you may lose the grace period on your account. As a result, your purchases can start to accrue interest daily.\nWhen you make a payment, the credit card company may apply the minimum payment amount to the balance with the lowest APR, which could still leave you with the interest-accruing purchase balance. If you pay more than the minimum, the amount above the minimum gets applied to the higher-rate balance.\nSome cards offer promotional 0% APRs on both purchases and balance transfers, which can help you avoid these situations. END