When you are looking for the best APR credit card for you, you ought to first understand how credit card APR works. Before discussing the best APR credit card we need to determine what APR is.

APR is is an acronym meaning Annual Percentage Rate. In a more simple way, APR is the amount of interest as a percentage that you pay in a year. You can calculate your daily interest payment by simply getting your APR figure then dividing it by the total number of days in the year. Interest on credit cards is compounded so charges accumulate, especially when you are not paying your monthly payment on a regular basis. Consequently compound interest will be charged on top of different charges for irregular payment. To summarize, interest rates, penalties and fees make up your total APR.

Finding The Best APR Credit Card

Finding the best APR credit card for you can be challenging since APR rates may vary depending on several circumstances. If you are someone with a good credit history, you will most likely be able to find a low annual percentage rate. But if you are applying for your very first card or have a very poor credit score, you will likely only be able to get credit cards with higher APRs. The best APR credit card rates often vary from as low as 3%. Higher rates might be up to 30%.

One credit card will have a different APR to another. When considering the best APR credit card it is essential that you read the terms and conditions regarding the particular card before applying for it. Some credit card providers give a fixed rate for credit cards. This means that your APR can change but only within a specified notice period.

If you are not going to pay for your monthly payment in full every month, the APR may greatly affect the amount of money that you need to pay the credit card provider for the credit the provider extends.

Researching The Best APR Credit Card

Basing on the Federal Reserve Rate, credit card providers frequently change their APRs. So if you are really looking for the best APR credit card, you should make a thorough research of the card and what it means for you. You may also check the present rate at the credit card provider’s official website. You might also use an online comparer to give you fast access to what it believes is the best APR credit card.