How Does Credit Card APR Work?



Welcome to my MissBeHelpful channel!

Lots of you have been asking me to talk more about APR, or annual percentage rate. This is a term used in reference to everything from mortgages and car loans to credit cards, so it’s really important that you take a few minutes to understand how it works!

In this video, I look at credit card APR – which we all have listed on our monthly statement. Here I jump into what APR is, how it’s calculated and how to think about APR when applying for new cards.

To get more awesome resources about APR, check out the “Better Money Habits” partnership between Bank of America and Khan Academy: https://bettermoneyhabits.bankofamerica.com/en/credit/what-is-apr

More from MissBeHelpful:
My VERY FIRST video (AWWW): https://www.youtube.com/watch?v=SO-xx4acDEM&t=206s
How to Improve Your Credit Score FAST: https://www.youtube.com/watch?v=QX3JZeEVgBM
Common Credit Card Myths: https://www.youtube.com/watch?v=RFPeyxmMbo4&t=4s
Budgeting Basics: https://www.youtube.com/watch?v=_au8Vm66xTs&t=9s
How I Save Half of My Income: https://www.youtube.com/watch?v=swaKg2PmSJI&t=1s
Why You Need to Start Retirement Saving in Your 20’s: https://www.youtube.com/watch?v=T9P2Fp-hb3I&t=13s
5 Things to Consider When Applying for New Credit Cards: https://www.youtube.com/watch?v=iXowOnl0Wrc&t=86s
How I Use the Grace Period to Avoid Paying Interest: https://www.youtube.com/watch?v=crUU0teDcH0&t=32s
How To Earn Rewards Without Hurting Your Credit Score:

Why I Don’t Care About A Perfect Credit Score & You Shouldn’t Either: https://www.youtube.com/watch?v=gwj2ywlmf0Q
Should I Invest or Pay Off Student Debt?: https://www.youtube.com/watch?v=MO8DPXZps80

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’Til next time… PEACE!

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