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How APR Rate Credit Cards Can Be Managed

Rapid Use Of Credit Cards

Hardly will we be able to find an individual who may not have any knowledge about credit cards. Everyone, now days, is familiar with the financial instrument the credit cards. Almost in all developing countries and developed countries, credit cards are being widely used by people. They replace the need of carrying the cash and are one of the sources of protection that can be used to protect cash.

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How To Select For A Best Apr Rate Credit Card

But which APR rate credit card is best? Which APR rate credit card costs least? These are some of the questions that need sheer attentions of people in order to take a better financial decision.  Before going into its explanation, one needs to be fully aware of APR. APR is short form of Annual Percentage Rate that is applied to the balances of payments that are still due and are needed to be paid to the lender. For a borrower low APR rate credit cards are suitable as they cost less for the same purpose that is to get a loan.

Hot Credit Card Offers
Hot Credit Card Offers
Type Brand Annual Fee APR Cashback Bonus Details/Apply
The First Progress Platinum Elite MasterCard(R) Secured Credit Card
$29 19.99% N/A


* This online application is subject to the terms and conditions as described in the Important Information Section of the application.

How Apr Is Calculated?

Normally APR is calculated by multiplying monthly or quarterly interest rates by the total number of payments that are to be made in a year. It is also very essential for the borrowers to get APR rate credit card from that company or bank that clearly defines all costs that are related to credit card including the consulting fee, processing fee and other annual charges for services. Through this a borrower is in a better position to determine the exact cost that is going to be incurred to him.

Role Of Credit History In Determining Apr

On the other hand a bank or any other credit union offers APR rate credit cards after carefully determining the credit history of their customers. They gather all the data from social security and other institutions that can provide the credit history and loan making of that customer. By doing this they can assess the credibility of a particular person or organization. This makes credit issuers that are banks and credit union for most of the times to protect themselves from default risks. With this process, a credit union or a bank determines a rate for s specific person or organization and they are informed with this rate before signing any contract.

Unethical Practices Of Issuers

Credit issuers regularly update the borrowers with their borrowings and provide them with a reasonable time to repay the loan. If customer pays the full payment within the specified time then he or she does not have to pay any interest. But that statement contains a message conveying that you can pay a partial payment that is less than the original payment. Is a customer pay a partial payment then some interest amount is charge to that c customer on remaining balance that has to be paid in next month’s payment with the same option of partial payment. This practice is a kind of deception with the borrowers that do not have full knowledge of APR rate credit card payments.

At, you can apply for your credit card online and receive an instant approval, where possible. That’s about as easy as it gets.

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