How Can Charge Card Interest Work?
Perhaps Not sure how to start with all the calculator above? Let’s take a good look at four terms you are going to discover in the small print of the bank card declaration and cardholder’s contract:
- Apr (APR) вЂ“ The interest rate a card is charged if it has a stability for year. A charge card often has various APRs for various bank card uses, including buy APR, Balance Transfer APR and money Advance APR. The main one cardholders are many familiar with is Purchase APR, which can be the attention they pay regarding the acquisitions they charge into the card.
- Day-to-day Periodic Rate (DPR) вЂ“ The interest rate a card is charged every day. Continue reading