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Of course it isn't used that way for credit card purchases. The credit card company divides the APR by 365 to create a daily interest rate. Then they multiply this daily rate times the number of days in the billing period and then by the amount you owe at the end of the period before interest is added and add this to the amount you owe.
If you mean what is the APR on your credit card, this varies by the card you hold and is often used to decide which card to get, because the lower the APR the less interest you will have to pay.
What else can I help you with?
What credit card has the highest annual percentage rate?
visa
What is the annual percentage rate for a Discover credit card?
3.92%
What does APR mean on a credit card?
APR stands for Annual Percentage Rate on a credit card. It is the interest rate charged on any outstanding balance on the card, expressed as a yearly percentage.
What is the interest rate for Lowes credit card?
The annual percentage rate for a Lowes credit card is 21.99 percent. The APR for a Lowes Project card is 7.99-17.99 percent. The percentage variable is based off credit qualifications.
Can you explain what the term "credit card APR" means?
The term "credit card APR" stands for Annual Percentage Rate, which is the interest rate charged on any outstanding balance on a credit card. It represents the cost of borrowing money through the credit card and is expressed as a yearly percentage.
What is the effective annual rate for a credit card with a 9.9 percent annual percentage rate that is compounded daily?
The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.
What does APR stand for in reference to a credit card?
APR stands for annual percentage rate in reference to a credit card. An annual percentage rate is the rate companies or banks charge when one uses a credit card.
What credit card has the highest annual percentage rate?
visa
What is the annual percentage rate for a Discover credit card?
3.92%
Which credit card company offers the lowest apr?
The annual percentage rate on credit cards can be researched online. Many credit card companies offer a zero annual percentage rate on balance transfers.
What does APR mean on a credit card?
APR stands for Annual Percentage Rate on a credit card. It is the interest rate charged on any outstanding balance on the card, expressed as a yearly percentage.
What is the interest rate for Lowes credit card?
The annual percentage rate for a Lowes credit card is 21.99 percent. The APR for a Lowes Project card is 7.99-17.99 percent. The percentage variable is based off credit qualifications.
What is charge on credit card per day?
1/365 of the Annual Percentage Rate
Can you explain what the term "credit card APR" means?
The term "credit card APR" stands for Annual Percentage Rate, which is the interest rate charged on any outstanding balance on a credit card. It represents the cost of borrowing money through the credit card and is expressed as a yearly percentage.
What does APR mean when it comes to credit cards?
APR stands for Annual Percentage Rate, which is the annual interest rate charged by credit card companies on outstanding balances. It represents the cost of borrowing money on the card.
What does the term "credit card APR" mean?
The term "credit card APR" stands for Annual Percentage Rate, which is the interest rate charged on any outstanding balance on a credit card over the course of a year.
What is the APR on a goldfish credit card?
The annual percentage rate or APR on a goldfish credit card can be as low as 16.9% if you apply for the platinum membership. The APR on a standard credit card is 19.9%.
