APR Rates
APR is the annual percentage interest rate on a card. Its how much interest charges you will pay every year on your card. If you do not pay in full on your credit card every month your annual percentage interest rate will greatly affect your bill. If you do not pay the full balance every month you will be charged interest on the remaining balance.
Why Is My APR High?
If your APR is high it may be a sign that you have bad credit. You should really try increasing your credit rate by paying bills on time and increasing your credit to debt ration. If you do have good credit perhaps it’s time to go shopping around for a new credit card.
Be sure when shopping around for a new credit card that you watch out for increases in the APR rate over time. Often times the rate they advertise at is just an introductory rate to get you signed onto their card. Also be sure to make the minim payment every month, often times a credit card company will charge a higher APR on months that you do not make your minimum payment.