Credit card company charged 6.40 % APR this period, what does that mean?

Question

I have a credit acount with capital one and at the bottom of my statement it says "ANNUAL PERCENTAGE RATE applied this period: 6.40%" Can someone please tell me exactly what that means? Will my APR change all of the time or remain the same?

Answer 1

you didn't pay on time

APR = Annual Percentage Rate

Answer 2

6.4% IS THE ANNUAL PERCENTAGE RATE.  SO IF YOU OWE $100, YOU WILL GET $6.40 IN INTEREST CHARGED TO YOU IF THE BALANCE STAYS AT $100 FOR AN  ENTIRE YEAR.

YOUR APR CAN CHANGE OR STAY THE SAME EACH MONTH. IT DEPENDS ON THE TYPE OF CREDIT CARD YOU HAVE.  IF YOU READ YOUR CREDIT CARD AGREEMENT OR CALL THE CREDIT CARD COMPANY'S 800 CUSTOMER SERVICE NUMBER THEY WILL TELL YOU.  ASK THIS QUESTION:  DO I HAVE A VARIABLE RATE OR A FIXED RATE ON MY CREDIT CARD?