When it comes to credit card basics, the most critical concept to master is how interest is calculated. Most card issuers calculate interest charges using the "average daily balance," which means your interest is calculated daily. By understanding ho
Know More
The annual percentage rate (APR) of a loan is the interest you pay each year represented as a percentage of the loan balance. For example, if your loan has a 10% APR, you would pay $100 annually for every $1,000 borrowed. All things being equal, th
Know More
When you borrow money, whether it's a credit card or other form of financing, you usually have to pay interest to the lender. In the case of credit cards, the cumulative interest rate you will pay on a given balance for a full calendar year is ca
Know More
Interest rates ( interest rate ) and APR ( annual percentage rate ) are two frequently confused terms that refer to similar concepts but have subtle differences when it comes to calculation. When evaluating the cost of a loan or line of credit, it's
Know More