Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
What is APR? It stands for Annual Percentage Rate. It's the interest rate it costs to carry a balance for one year. The confusing part is that the actual APR you will pay to do that will be a fraction higher, because the interest will be compounded on a daily schedule when a balance is carried.
If you pay off your charges in full each month there is no interest charged. If you don't then there will be interest charged going back to the date of purchases on the next month's bill.
Does that make sense?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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