I got a credit card offer and i need to know what APR is?

Question

I got a credit card offer. It's with 9.9% APR and I have no idea what that means. I am very responsible, but have never had a credit card. I wouldn't go crazy or anything, I just wanna know what the heck APR means.

Answer 1

Interest rate, and a pretty good one.

Answer 2

APR stands for Annual Percentage Rate.  You got a good deal; it means that you will be billed a finance charge of $0.099/12 each month for each dollar of outstanding balance not paid off in the previous month.  But the proper use of a credit card is to always pay the full balance each month -- so the finance charges will be zero.

Answer 3

Its the interest rate they charge you if you do not make your payments on time.  You should definitley get a card though it will help you to establish credit which is what you will need to buy a car, home, or get a loan.  I used a site applyfastbankcards.com to get my card.  They PAY YOU to use their site to apply.  Chances are this same offer you got in the mail is on their site plus many more, I reccommend you use it.  I got paid $55 for the Discover More card.  Good luck:)

Answer 4

APR stands for annual percentage rate.  That is how much interest they will charge if you have a remaining balance every month.  9.9% isn't too bad but if it is just an introductory offer be careful.  They may be tempting you with the 9.9% APR but read the small print as they  may raise the APR after a certain amount of months, etc.  Whatever you do and however responsible you are, be careful with credit cards, they can get ya!

Answer 5

it is the rate of interest they will charge if you do not pay the balance in full when due -- that is a very low rate!!!!