The APR on a credit card stands for Annual Percentage Rate, which is the yearly interest rate you'll pay if you carry a balance on your credit card
. It represents the cost of borrowing on a credit card and often varies from card to card
. Credit card companies take your credit score into account when setting your APR, with a higher credit score generally translating to a lower interest rate
. Credit cards often have a variable APR, meaning your rate can go up or down over time
. It's important to note that credit cards often have different APRs for purchases, balance transfers, and cash advances
. Additionally, many credit card issuers offer introductory or promotional rates when you open a new credit card account, and once the introductory period ends, the regular APR would apply to any outstanding balance on the card
