Credit Cards

When you decide you want to apply for a credit card you will need to know your credit card rate, which is also called the APR. If you are going to get a credit card it is important to know what it is so that you can compare credit card rates before you apply.

The APR or credit card rate is the interest rate that the credit card company will charge you when you owe them money if you do not pay the entire amount on time. When you do get your bill, it will tell you how much the full bill is and what date you need to pay it by in order to avoid being charged the credit card rate (interest rate). The APR is the annual percentage rate, is the rate you will be charged yearly, however it is broken into how much you will pay over the year. Again to avoid this you will need to pay the amount in full, if you pay a partial payment you will be charged a interest rate.

Be sure to find a card with a low credit card rate to ensure that you dont rack up a lot of fees in addition to your monthly payments.