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CC monthly interest rate to APR?
St0lli
Posts: 594 Forumite
in Credit cards
Hi, I tried posting my question on DFW forum but got no replies... probably because this is the more appropriate forum! :j
I'm trying to sort out my credit card payments but I've noticed that on some off them (ie MBNA) only the monthly interest rate is quoted and not the APR. Is it just a matter of multiplying the monthly interest rate by 12 or is it a more complex calculation?
I really haven't got the energy this evening to go through all the press this number etc to get through to a call centre who just read from a script so would prefer to try and work it out myself.... with help from someone from here of course! lol
Many thanks for reading and Happy New Year! :beer:
I'm trying to sort out my credit card payments but I've noticed that on some off them (ie MBNA) only the monthly interest rate is quoted and not the APR. Is it just a matter of multiplying the monthly interest rate by 12 or is it a more complex calculation?
I really haven't got the energy this evening to go through all the press this number etc to get through to a call centre who just read from a script so would prefer to try and work it out myself.... with help from someone from here of course! lol
Many thanks for reading and Happy New Year! :beer:
Light Bulb Moment 4th January 2009 :eek:
Started DMP 1st April 2009 :A
DMP mutual support thread member: 267 :j
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Thanks Yorkshireboy, thats brilliant!Light Bulb Moment 4th January 2009 :eek:Started DMP 1st April 2009 :ADMP mutual support thread member: 267 :j0
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