The APR and interest rate on your mortgage aren’t the same. Here’s what to pay attention to when you compare costs.

For example, if you have a credit card balance of $1,000 and your APR is 21%, you'll accrue $210 in interest over a year. Related: What is a good APR for a credit card?

Understand what’s considered high-interest debt, how it impacts your finances and effective debt management strategies to prepare for the future.

In the context of credit cards, the periodic rate times the number of periods in a year. For example, a 1.5% monthly rate has an APR of 18%. In the context of consumer lending, the APR takes into ...

The average daily balance method is a common way that credit card issuers calculate interest charges based on the total amount owed on a card at the end of each day.

Comparing the annual percentage rate (APR) and the interest rate on competing loans helps you understand the true cost of a loan.

Annual percentage rate (APR) In the context of credit cards, the periodic rate times the number of periods in a year. For example, a 1.5% monthly rate has an APR of 18%. In the context of consumer ...