What is a credit card APR?

APR (Annual Percentage Rate) is the yearly interest rate charged on your outstanding credit card balance, plus any associated fees, if you don't pay in full.

How can I avoid paying interest on my credit card?

To avoid interest charges, always pay your credit card statement balance in full by the due date each month.

What factors influence my credit card interest rate?

Key factors include your credit score, the prime rate, the card issuer's risk assessment, and the specific card's terms and conditions.

Can my credit card interest rate change?

Yes, most credit card interest rates are variable and can change based on the prime rate. Introductory or promotional rates also expire after a set period.

Is there a 'good' credit card interest rate?

A 'good' rate is generally lower than the national average, especially for those with excellent credit. The best rate is effectively 0% if you pay your balance in full every month.