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What exactly is an APR, or annual percentage rate? A credit card’s APR dictates how much interest you pay on charges that aren’t paid in full when your statement is due, also known as revolving balances. Low APRs are better for your wallet and easier to obtain if you have good credit. High APRs cause cardholders to fall into credit card debt, costing them thousands of dollars each year.
It’s especially hard to have bad credit and be…
