APR, or Annual Percentage Rate, represents the yearly cost of borrowing money on a credit card, including interest. It is applied when you carry a balance from month to month. If you pay your full statement balance by the due date every month, you can avoid paying interest entirely. APR is usually variable, meaning it can change based on the prime rate and your creditworthiness.
APR (Annual Percentage Rate) is the yearly interest charged on your credit card balance. If you don’t pay the full balance each month, the APR determines how much interest is added to what you owe.
APR (Annual Percentage Rate) on a credit card is the yearly interest rate charged on any unpaid balance. It determines how much extra you pay if you carry a balance. Paying your full statement each month avoids APR charges, while carrying debt accrues interest based on this rate.
