Have you ever looked at your credit card and wondered what the interest rates were and what they meant for your card and debt? When you’re signing up for a new credit card, you don’t want to overlook the APR information, especially if you plan to have a balance on your card.

APR stands for annual percentage rate and indicates the interest you’ll pay on any outstanding balance you have on your card. Depending on the card that you have, the interest usually kicks in after a grace period has passed.

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