3 ms·

> "18.0% Annual Percentage Rate (Variable)" Is this normal? It seems like a LOT to me

cowsandmilk 10y ago
for credit cards? well within normal, although most cards have more than one APR. For instance, AmEx Blue Cash Everyday currently says 13.24% to 23.24%, depending on your creditworthiness when you apply.
danesparza 10y ago
Bravo for paying attention. :-) Normal for credit cards. Not normal for plebs like me.
speps 10y ago
Usually you don't any interests if you repay the amount in time.
chris_7 10y ago
Why does this matter? If it does, you're doing it incredibly wrong. The annual fee and pathetic rewards percentage are much more odious.
- franciscop 10y ago
  I am Spanish and I got lost in translation, from the rest of the comments and a quick search this is when borrowing money; I thought it was a different kind of fee (: Edit: I misunderstood it since "Annual Percentage Rate" seems like just a group of English words together when it actually has a special meaning in economy
  - chris_7 10y ago
    It's the interest rate you pay if you do not pay off your credit card in full every month, but you should always pay off your credit card in full every month, so it doesn't actually matter.
- bogomipz 10y ago
  It matters b/c if some unseen event(they do happen) or emergecy happens and you can't make the payment, you are paying almost 20 cents on the dollar in interest. So yes if you use credit for convenience and pay your balance in full every month it doesn't matter much but like I mentioned if you have some serious event that happens which results in your not being able to pay, yo you would be better off with a card at 12% APR. "Doing it wrong" does't really account for unseen or unplanned events in ones life.
bogomipz 10y ago
18% usary is somewhat normal'ish in the US. It is a lot sure compares to not paying any at all. But there are also plenty of cards that are 24% or 30%. Often times the APR starts with a "teaser" rate of 12% and then it resets to a higher rate triggered by a late payment or sometimes just that the teaser rate expires after year.

for credit cards? well within normal, although most cards have more than one APR. For instance, AmEx Blue Cash Everyday currently says 13.24% to 23.24%, depending on your creditworthiness when you apply.

danesparza 10y ago

Bravo for paying attention. :-) Normal for credit cards. Not normal for plebs like me.

speps 10y ago

Usually you don't any interests if you repay the amount in time.

chris_7 10y ago

Why does this matter? If it does, you're doing it incredibly wrong. The annual fee and pathetic rewards percentage are much more odious.

franciscop 10y ago
I am Spanish and I got lost in translation, from the rest of the comments and a quick search this is when borrowing money; I thought it was a different kind of fee (: Edit: I misunderstood it since "Annual Percentage Rate" seems like just a group of English words together when it actually has a special meaning in economy
- chris_7 10y ago
  It's the interest rate you pay if you do not pay off your credit card in full every month, but you should always pay off your credit card in full every month, so it doesn't actually matter.
bogomipz 10y ago
It matters b/c if some unseen event(they do happen) or emergecy happens and you can't make the payment, you are paying almost 20 cents on the dollar in interest. So yes if you use credit for convenience and pay your balance in full every month it doesn't matter much but like I mentioned if you have some serious event that happens which results in your not being able to pay, yo you would be better off with a card at 12% APR. "Doing it wrong" does't really account for unseen or unplanned events in ones life.

bogomipz 10y ago

18% usary is somewhat normal'ish in the US. It is a lot sure compares to not paying any at all. But there are also plenty of cards that are 24% or 30%. Often times the APR starts with a "teaser" rate of 12% and then it resets to a higher rate triggered by a late payment or sometimes just that the teaser rate expires after year.