What is APR?

Question

Do I have to pay the percentage fee of APR for a credit card annually if and only if I pass the credit line limit? late payments? and some other mistakes I make?

OR

Do I have to pay the APR annually no matter if I pay my credit card usage on time and do everything properly and on time?

Answer 1

If you don't pay your payment in full, you will pay that percentage rate!

Answer 2

Yes and APR is annual percentage rate

Answer 3

APR (annual percentage rate). You used their money so it's reasonable that they charge you for that even if you pay it back on time. They charge you this fee as long as you haven't given their money back fully so the longer it takes you to pay your debt, the more APR they get from you.

Answer 4

Yes you pay it every month.  UNLESS you have a 0% APR for a trial period or something.

Answer 5

Annual percentage rate (APR) is an expression of the effective interest rate the borrower will pay on a loan, taking into account one-time fees and standardizing the way the rate is expressed.

You pay the APR monthly based on the amount withstanding usually a calculated by a daily rate. Over the limit, Late Payments are fees, and legally not considered interest, but you will be charged interest on the fees.

You will not be charged interest if you pay off your ENTIRE balance monthly - ON TIME.

Answer 6

If you pay your credit card bill at the end of every month or billing period, you will be maintaining a net 0 balance. Since any percentage of 0 will always be 0, there will be no APR or Annual Percentage Rate.

Answer 7

actually you need to find out what your "grace period" is

a grace period is the amount of time you have to pay your credit card before the interest charges are applied... they are usually between 17 - 25 days...for most credit cards...some good ones, I've heard, will give you till your due date... but most will not...

SSK.

Answer 8

Whatever your credit card agreement stated.  You need to check your credit card statement.

Answer 9

APR stands for annual percentage rate annual means yearly and yes you pay this as long as you have a balance on the card.

Answer 10

annually percentage rate

Answer 11

APR= annual percentage rate.

This is the rate issued to you by the credit card company based upon their analysis of your credit worthiness.

If you pay your balances in full and on time then no you do not attract interest. Interest is accrued on any outstanding balances. If you go over your limit (bad bad thing) then you will accrue daily interest until it is paid. Ditto for late payments and 'other mistakes'.

The only thing worse that late fees and penalties is a bad credit score. Keep your payments current and on time.

Answer 12

you as always pay the apr on the balance you owe----zero balance=zero apr

Answer 13

ARP is annual percentage rate and most cards have them. If you charge something to your card and pay the entire amount off right away, you probably won't have to pay more than the principal.