Questions tagged [apr]
Annual Percentage Rate
76
questions
3
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4
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705
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Can you switch credit cards annually to avoid interest if you have no outstanding balance?
I am aware of how balance transfers work, and that there are various things to consider with that.
However, I generally treat my credit card as a debit card, paying it off fully at the end of each ...
- 2,585
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2
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390
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0% APR first 12 months on new credit card. Can I exceed that 30% rule of thumb and not hurt my credit score?
I opened a credit card account about two months ago, hoping to start building credit. Fortunately, I was approved for a regular credit card, not a secured one. I was informed by the person at the bank ...
- 149
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2
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Calculate APR from balloon loan
I need formula to calculate nominal APR from balloon loan with contract fee. The initial data and payment schedule is:
Loan sum: 10 000€
Interest rate per year: 15%
Loan period: 2 years
Payments ...
- 11
0
votes
1
answer
275
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Holding Multiple Credit Cards. Does the credit limits add up and work together? [duplicate]
So lets say I have the following credit cards with the following limits:
$1,500
$8,500
$9,000
If they all sat at 0 usage, and I was to charge one of them at say $3000 and let that sit on 0% APR for ...
- 1,199
0
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2
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415
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Interest charges on balance transfer when purchases are involved
I just finished reading a great explanation on how interest is determined and how to avoid. It was stated the way to avoid interest is to pay off your full statement balance each month.
Example:
- ...
- 103
4
votes
2
answers
363
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Signing up for a credit card to pay tax debt - pitfalls of 0% APR for the first year?
I have a tax debt of ~$3000 and am trying to find the best method of paying it. I applied for a credit card that offers 0% APR for the first 12 months. As far as I can tell, this is a much better ...
- 191
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341
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Do no-balance-transfer-fee credit cards make exceptions in their special offers?
I have a wide array of credit cards that I use to maximize rewards. Every now and then I get an offer in the mail from one of the cards I haven't used in a while, offering 0% APR on balance transfers ...
user19035
2
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3
answers
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What does APR mean I'm paying?
I've read every article and post on the internet and I'm still confused.
I'm getting a credit card with a 19.9% APR with no annual or monthly fees.
I read that APR is the annual rate for borrowing. ...
- 21
2
votes
5
answers
391
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Consolidate my debt? Higher APR, but what does that actually mean?
If I have a monthly payment of $804.54 and an APR of 29.8%, does that mean that, each month, 29.8% of my $804.54 goes to paying the creditor?
My situation...
I have 3 credit cards and am thinking ...
- 21
0
votes
1
answer
108
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Lowest Interest Options for Short-Term Loan
I am looking for a short-term loan in the amount of $15k to buy some household items.
I will be able to return the money in full by 3 months
I have a credit score of 760+.
Currently, I am seeing ...
3
votes
1
answer
186
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Effective Interest Rate from bifurcated interest rate
Here goes, this is the scope of my question: Say I want to take out a credit card, that has 0% interest for 12 months, when at the 13th month, whatever debt is taken out on the card will be subjected ...
- 31
5
votes
2
answers
2k
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Calculating pay off for credit card with multiple APRs
I have a credit card that is charging me two different APRs, one for cash withdrawal and one for purchases. I am trying to determine how much I need to pay monthly to zero the balance, but most online ...
- 630
0
votes
3
answers
405
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Soft Loan using a 0% APR credit Card
I am getting a new Student Credit Card . It has as 0% Intro APR for 18 months. The credit card company is ready to loan me money, which I can repay in 18 months at 0% APR. With this loan money I ...
- 103
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4
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6k
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How to calculate Annual Percentage Rate of a loan with unequal periodic payments?
Let's say we borrow a loan of $1000. We pay back to bank $100 per month but for some stupid reason the last payment is smaller and equals $50. This is a common case in my country. How then the APR ...
- 163
3
votes
1
answer
223
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Formal Definition of APR
I have seen several conflicting sources on the internet about APR. Some say the effective rate is (1+APR/n)^n -1 while others say this formula is the APR since APR represents the rate over all ...
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