teaser rate

Definition

A very low but very temporary introductory rate on an adjustable rate mortgage or credit card.

Use teaser rate in a sentence

You may want to make sure that what you are agreeing to is not only the teaser rate if it sounds to good.

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The credit card offer from Big Billz Co. offered a ridiculously low 1% teaser rate, but the fine print detailed that unsuspecting customers would be signing on for a hike to 35% after the first six months.

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Yesterday, I went to the bank and saw the incredibly low interest rates on their cash back credit cards; I later found out it was just a teaser rate and my interest rates were going to go up.

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