refers to the amount of interest you’ll pay on something you bought with your credit card if you carry a balance from month to month. Your card’s APR should be clearly spelled out when you’re approved for your card and also can be found on your monthly statement in the section showing how your interest for that billing cycle was calculated., which means your interest is compounded and accumulates every day, based on your daily rate of interest.
That said, current cardholders are sometimes targeted for 0% APR offers either by postal mail or via their online accounts. If you are not targeted for an offer and are looking for a 0% APR on purchases or balance transfers, you will most likely need to open a new credit card to take advantage of one of these offers.Each card sets their own APR, or annual percentage rate.
Since this method is compounding your interest charges, you’ll end up paying more than $200 in additional interest over the course of a year if you made zero payments towards that principal amount of your purchase.currently offers one of the longest 0% introductory APRs on the market with its 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers.
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