Credit Card Apr -

: Lenders use your credit score and history to set your rate; higher scores typically qualify for lower APRs.

: Most issuers divide your APR by 365 to determine a Daily Periodic Rate (DPR) . Example : A 20% APR becomes a daily rate ( credit card apr

: A much higher rate triggered if you miss payments or violate terms. What Determines Your Rate? : Lenders use your credit score and history

: If you pay your statement balance in full every month by the due date, most cards do not charge interest on new purchases. Common Types of APR credit card apr

: Rewards cards often carry higher APRs to offset the cost of perks like travel points or cash back. Interest Calculation Example