Question by liljerzgurl128: What is a excellent apr for someone whos by no means had a credit score card?
Ive by no means had a creditcard and im making an attempt to apply for 1 but I don’t know what a great apr is. I am searching at one now that has a 22.9 apr price. IS this very good? is it as well large? I know nothing at all about these things so whatever info you could give me in the easiest terms would be tremendously appreciated.
Response by Hey HEY HeY
APR is an annual Percentage Price, that is the price of interest the credit card firm will charge you over the complete yr if your do not make a complete payment on your bill. Credit score Card firms can promote interest costs on a month-to-month basis(e.g 2% per month), but they also have to mention the APR to buyers before any sort of agreement is signed. For e.g, a credit score card company might charge one% a month, but the APR is one% x twelve months= twelve%. Hope that helps you!
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Originally posted 2012-12-23 13:05:02. Republished by Old Post Promoter