APR stands for Annual Percentage Rate. It is one of the most important numbers that you will find on a credit card application or statement. The reason it is important is because this number determines how much interest you will have to pay on any charges that you carry over on your credit card. It is also important for consumers to understand that even a single card can have more than one APR associated with it.
Here are some examples of how you might find various rates with the same card (or with multiple cards):
You will certainly find an APR for purchases. This is the standard rate that you will pay when you make ordinary purchases with the card and do not pay off the balance within the grace period that the company allows.
You will often find that there is a different APR for cash advances. In most cases, the charge for taking cash is higher than the charge for purchases. In some cases, the cash advance charge can be significantly higher and consumers should always check for this rate before they take cash.
Consumers should also realize that many credit card companies do not allow for a grace period with cash advances or balance transfers. This means that the APR for the cash advance will begin as soon as you take the money and you will have to pay this charge regardless of how quickly you pay back the cash amount taken out.
There can also be other types of APR's associated with your account. For example, there may be a penalty APR. A penalty APR can happen if you are late in your payments. Your credit card company will state the conditions that must be present in order for them to charge this higher rate. Be very careful about this because penalty rates can be very high at times.
You may also find that your credit card company uses what are known as tiered APR's. This is a system in which different rates are applied to different levels of outstanding balances. For example, a company may state that it charges 14% on balances between $1 up to $1000, and that it charges 15% on balances on balances above $1000. As you can see, under this method the more you charge on your card, the higher the percentage rate will be and the higher your monthly bill be as well.
There are also many companies that offer introductory APR deals. These are usually lower rates for new customers but they are temporary. Once the stated period of the introductory rate is over a higher rate usually takes effect. While introductory rates can be tempting, always check for the "regular" rate as well.
Consumers should understand that if a balance is carried over from one month to the next and so forth, even small differences in the APR can add up over the course of a year. Remember that APR stands for Annual Percentage Rate, the rate that will apply on a yearly basis. Use the lower rate cards and you will save money each month.
Having kids means having to make a lot of purchases. Whether you're talking about the extensive list of things you'll need for your new arrival or just the holiday and birthday shopping you have to do for your five year old, you can expect your kids to take a chunk out of your paychecks on a regular basis. The Toys "R" Us and Babies "R" Us MasterCard can help make that chunk just a little bit smaller.
Not only does this card help you earn four points for every dollar you spend in a Toys "R" Us or Babies "R" Us store, it also helps you to earn a point for every single dollar you spend on the card period. That means that whether you're buying groceries or filling up the car to take the kids to a museum, you're earning the rewards you need to keep your kids rolling in the things they love. Just one thousand points means savings certificates to either store, and you can earn up to two savings certificates per month. Those kinds of discounts can add up in a hurry, and they're certain to help you make all of those necessary purchases for your baby or your older child.
This card is great for the rewards alone, but the terms of the card are also very attractive. There's no annual fee, and you'll enjoy a 0% APR on your purchases for the first six months that you own the card. You'll also have a 0% APR on all balance transfers during the first six months. After the six month introductory period, your APR will move to just 15.24%, better than most other cards on the market today. That low rate applies to your balance transfers as well. Should you ever need to use the card for cash, you don't have to worry about exorbitant fees or rates there either. You'll enjoy just a 24.24% APR on cash advances. If your little one needs to visit the ER in the middle of the night, don't hesitate to get cash at an ATM to cover the bills.
There's a twenty day grace period for repayment of all purchases, and the card itself is sponsored by Chase Bank, the leading name in credit cards today. You know you're going to spend money on your kids at Toys "R" Us and Babies "R" Us anyway, let the Toys "R" Us and Babies "R" Us MasterCard help you save money while doing so.
Both Peter Kenny & Mindy Matter are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Peter Kenny has sinced written about articles on various topics from Credit Cards, Finances and Best Money Market. Peter Kenny is a writer for The Thrifty Scot, please visit us at and. Peter Kenny's top article generates over 368000 views. to your Favourites.
Mindy Matter has sinced written about articles on various topics from Credit Cards, Visa Credit Cards and Credit Cards. Apply for the Toys R Us credit card or apply for another . Also save money with a. Mindy Matter's top article generates over 6600 views. to your Favourites.