APR is the total cost of borrowing money, expressed as a percentage of the ... Lowering your APR means your monthly payments and total costs will be lower.
Is 25% a good APR?
This is one example of bad APR, as carrying a balance at a 25% APR can easily create a cycle of consumer debt if things go wrong and leave the cardholder worse off than when they started.
What is an APR of 25%?
Nominal APR (or simply APR)\n\n Supposing your credit card has a 25% APR and you carry a $100 balance for a year, you would owe $125 by year's end.
What is 24% APR on a credit card?
A 24% APR on a credit card is another way of saying that the interest you're charged over 12 months is equal to roughly 24% of your balance. For example, if the APR is 24% and you carry a $1,000 balance for a year, you would owe around $236.71 in interest by the end of that year.
Is an APR of 24.99 good?
Is 24.99% APR good? A 24.99% APR is not particularly good for those with good or excellent credit. If you have average or below-average credit, however, it is a reasonable rate for credit cards. Still, you should aim for a lower rate if possible.