A low introductory APR is a low interest rate, usually 0%, that runs for a certain amount of time, usually six to 15 months. A low introductory APR can be used to consolidate credit card debt by transferring balances from high-interest cards or can be a way to make eligible purchases without paying interest on them. The key is to pay off the balance before the introductory period ends. If you don’t, you’ll pay interest at the regular APR. That counteracts any savings from the interest-free period. Being charged 0% interest doesn’t mean no payments are required during the intro period. You’ll still have to make the minimum payment on time or risk having the 0% APR canceled. A penalty APR may be charged if you don’t pay at least the minimum payment due. Banks set interest rates based on the risk you pose. A higher credit score gives the lender confidence that you’ll make payments on time, and thus pose less risk for them. They’ll generally give you a lower interest rate than someone with a low or middling credit score. Credit card issuers provide a range of potential interest rates with their offers, but they don’t say which score leads to a specific interest rate.