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Lenders use these three-digit FICO Scores to determine their risk in taking you on as a borrower, with higher credit scores attracting the best rates and terms: Poor — 300 to 579 Fair — 580 to 669
The Annual Percentage Rate (APR) ... If you carry a balance and have a top-notch credit score, the best APR deal is generally a no-frills card that has an APR below 10%, but offers no rewards. ...
And unless you have a 0% intro APR or other special-rate card, ... Credit Scores and Interest Rates. Credit Score. Approximate Average Interest Rate. Superprime (720 and higher) 17%.
So, if you owe $1,000 on your credit card, and your interest rate is 24.00% APR, you’ll be billed $20 for interest, or 1/12 th of the annual interest of $240. Now your balance is $1,020, and ...
Daily rate. Find this rate by dividing your credit card’s purchase APR by 365 — the number of days in a year. Average daily balance. Add up your balances at the end of each day in the billing ...
Balance transfer APR: Some cards offer a reduced rate — as low as 0% for up to 12 to 18 months — if you transfer a balance from one credit card to another. You might pay a transfer fee, which ...
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