Variable APRs are subject to change at any time and are based on changes in the prime rate.
What causes variable APRs to change? →When you make a late payment, card issuers have the right to penalize you with a penalty annual percentage rate (APR) that is greater than your standard APR.
Start planning to pay off your credit card with our credit card payoff calculator →The best interest rate that lenders charge customers is known as the prime rate, or prime lending rate. It's possible that your credit card's real interest rate is higher than the prime rate. Variable APRs frequently fluctuate in tandem with changes in the prime rate. It follows that your variable APR will probably increase if the prime rate does, and vice versa.
Here’s a breakdown of the most common personal finance terms →The interest rate that applies to cash advances made using a credit card. Often, this is one of the highest annual percentage rates that you may pay. Cash advances have no grace period and start accruing interest right away.
See other key terms to increase your knowledge and guide you to financial wellness →A balance transfer APR (Annual Percentage Rate) is the interest rate you'll pay on balances you transfer balances from one credit card to another. Some credit cards offer a promotional balance transfer APR. You may be eligible to receive one of these promotional offers when you transfer credit card debt to their card from an existing credit card.
Best balance transfer credit cards of April 2024 →APR stands for Annual Percentage Rate. It's the yearly interest rate you pay on a loan or credit card. However, a credit card's advertised APR isn't the true interest rate because it compounds daily.
Learn how to calculate the effective APR to find a credit card's true interest rate →← Curating the web to find the most interesting and helpful information about your money.