• The annual interest rate on a credit card is the annual interest rate that is applied monthly, i.e. the monthly amount charged on the account is one twelfth of the annual annual interest rate.

  • Buying APR is a monthly interest rate when you carry a credit card balance.
  • Most credit cards come with multiple APRs. There are different rates for cash withdrawals and purchases.
  • The credit card APR is subject to change by the credit card company with 45 days’ notice.