If the advertised APR on a credit card is 19%, for example, then an interest rate of 1.58% (19% divided by 12 months) ... Late Fee: Definition, How They Work, and How to Avoid Them.

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 ...

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. ... divide the APR of 21% by 12. In this example of a $1,000 balance, ...

For example, if you have a debt with a $10,000 balance and an APR of 10% — you’ll end up paying $1,000 in interest over a one-year period if your balance remains the same.