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credit cards faq/glossary
The most common questions asked about Credits Cards.
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Credit Card Glossary
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P
 
Purchase rate
definition
What does Purchase Rate mean?

The purchase rate is basically that interest rate you will have to pay for when using your credit card in different kind of purchases. You will find it very popular that credit card issuers offer you a period of 6 months or the first year introductory 0% purchase rate (or even unlimited). This simply means, you won’t have to pay any added interest for your purchases made by using the respective credit card, but only in the case you also make those repayments on time.

Bear in mind that this interest free advantage does not apply in the case you will make cash withdrawals with your card from the ATMs for example, because in this case you will be charged that regular fee. A credit card with a 0% purchase rate is indeed a money saver option, if you make use of it correctly and within the terms and conditions stipulated by the issuer.
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