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What is APR?

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I see the word "APR" all around. What really is this?
asked 7 years ago in Money by anonymous

1 Answer

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APR is the Annual Percentage Rate.
 
It is certainly crucial for you to recognize when applying for a Credit Card.
 
As it is the annual percentage rate on a credit card which you are required to pay as interest in yearly basis if you fall short to pay your bill balance in full each month.
 
It also depends on many factors such as if you have a good credit score, you will possibly get a credit card with low APR but your credit score is bad or if you are applying credit card for very first time, they may issue you one with higher APR.
answered 6 years ago by Info (640 points)

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