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:

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