What is a credit card interest rate? What does APR mean?
A credit card’s interest rate is the price you pay for borrowing money.
For credit cards, the interest rates are typically stated as a yearly rate. This is called the annual percentage rate (APR). On most cards, you can avoid paying interest on purchases if you pay your balance in full each month by the due date.
Still have questions about credit cards?
Whether you’re shopping for a new card or getting a handle on an existing one, here are the resources you need to manage your credit cards. View our resources.