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Credit Card APR Explained!

Here we will explain how to calculate your monthly credit cards repayments using your credit cards Annual Percentage Rate (APR) Trying to calculate the amount of interest you will pay on your credit card is easy if you know how. Credit card interest is charged on a monthly basis with no fixed repayment amount apart from the minimum stipulated by the terms of the credit card. The APR of a credit card determines what your monthly interest will be on your credit card.

NOTE:- This is a rough guide to credit card APR your credit card APR is affected by many things. If you want to know your credit card APR we suggest you contact your credit card provider.


Many people are stuck with cards charging extraordinary annual percentage rates (APRs). For them, their choice of credit card is simple, apply for a credit card with a lower APR.

If you have a very large monthly debt running on your card, you should be looking to do the following:
  • Apply for a card with 0% interest on balance transfers, usually for period of up to 6 months and switch all your credit card debts to this one. Use that time to reduce your debt as much as you possibly can.
  • At the end of that period, the card will revert to its normal APR. If the rate is relatively cheap (below 13-14 per cent), it makes sense to stick with it. If not, apply for and keep another card handy, one that offers the lowest possible long-term rate.


Don't forget that interest rates can differ for retail purchases, balance transfers and cash withdrawals. Also interest rates for balance transfers can be for a limited period.

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