Calculating APR for Credit Cards.
Divide your finance charges by the total balance, then multiply by 1200 to get your APR.
APR, or annual percentage rate, is the amount of money your bank charges you when it lends you money.
What’s my APR on my credit card?
The APR on your credit card is the annual rate at which your card issuer will charge you interest whenever you carry a balance. The higher a credit card’s APR, the more interest you’ll pay. When the U.S. prime rate changes, the interest rate on those credit cards will change as well.
What is a good APR rate?
An annual percentage rate (APR) on a credit card is the annualized version of its interest rate. The average variable credit card APR is 16.81% as of April 5, 2018, which means that a good APR credit card should have a rate at least below that.
How APR is calculated UK?
The APR is calculated by taking the total interest cost over the 25-year term of the mortgage, plus fees.
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