Silly question

Onwardsandupwards · 24 April 2014 at 4:59PM

This is probably a really silly question but could someone tell me how I find out the Apr on a credit card as I am looking at the statements but can't really find it as I don't know what I'm looking for?
Thanks

CLAPTON · 24 April 2014 at 5:08PM

Onwardsandupwards wrote: »

This is probably a really silly question but could someone tell me how I find out the Apr on a credit card as I am looking at the statements but can't really find it as I don't know what I'm looking for?
Thanks

depends upon which card it is as the various banks have different statement layouts

MallyGirl · 24 April 2014 at 5:24PM

it is usually in a box on the back - APR for purchases, APR for cash advances, any promotional rates

Onwardsandupwards · 24 April 2014 at 5:27PM

Hi, thanks for the reply it's a loylds tsb one

Mr_Goodkat · 24 April 2014 at 6:45PM

Should be on there somewhere, maybe the back.

May be shown as a monthly interest rate rather than APR, if so just times the relevant figure eg purchases by 12

CKhalvashi · 24 April 2014 at 7:13PM

Onwardsandupwards wrote: »

Hi, thanks for the reply it's a loylds tsb one

It will be on there somewhere.

I've just checked an application I made last year, and it had 3 different rates (one promotional), but wherever it is, it's a legal reqirement that this is spelt out before you're allowed to spend on the card.

CK

YorkshireBoy · 24 April 2014 at 7:25PM

Mr_Goodkat wrote: »

May be shown as a monthly interest rate rather than APR, if so just times the relevant figure eg purchases by 12

That won't give you an accurate answer though. Multiplying by 13 will probably get you closer, but again not accurate.

Whilst we wait for the mathematicians to come along, here's a calculator that will do it for you...

http://www.stoozing.com/calculator/apr-rate-converter.php

Onwardsandupwards · 25 April 2014 at 5:48AM

Hi all,
I have found abit that says 25.44% pay is this what I should be looking for. I have been looking for the actual words apr feel silly if that is what it is.

PeacefulWaters · 25 April 2014 at 6:16AM

There will be a monthly rate quoted to two or three decimal places on your most recent statement.

What is it?

Onwardsandupwards · 25 April 2014 at 7:44AM

The only percentage figure I can find is one that says 25.44% pa (variable) if it helps we owe £3500 on it it and currently get charged £60 interest. I really appreciate everyone's help and sorry if this is obvious stuff I just can't seem to make sense of it.

[Deleted User] · 25 April 2014 at 8:15AM

Your APR is 25.4% in that case. Does it say that it is for purchases, or cash, or both?

Silly question

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