Credit card APR
Credit card APR FAQ
Q: How does APR and interest rate related to each other?
A: APR is the Annual Percentage Rate. It depends upon the rate of interest on the amount lend by you. APR is the interst rate plus costs expressed as a percentage annually. You can get Lower APR if you have lower costs and lower amount of loan and vice versa.
Q: What can I do to close my credit card with highest APR?
A: If you close your credit card with high APR then it will ruin your credit history. Better will be stop using the credit card with high APR instead of closing it. Then wait till the expiration period of the credit card. then the credit card company will ask you to renew the credit card, then you ask for the one with lower APR. If the company refuses to do so then apply for the another one with low APR
Q: How does APR and interest rate related to each other?
A: APR is the Annual Percentage Rate. It depends upon the rate of interest on the amount lend by you. APR is the interst rate plus costs expressed as a percentage annually. You can get Lower APR if you have lower costs and lower amount of loan and vice versa.
Q: What can I do to close my credit card with highest APR?
A: If you close your credit card with high APR then it will ruin your credit history. Better will be stop using the credit card with high APR instead of closing it. Then wait till the expiration period of the credit card. then the credit card company will ask you to renew the credit card, then you ask for the one with lower APR. If the company refuses to do so then apply for the another one with low APR
Labels: Credit card APR
posted by Diana @ 7:00 AM
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