What is the APR if monthly interest rate is 1.4566%

Spark

I just got 2 letters from Abbey about my Visa and Mastercard credit cards and they change the monthly interest rate to 1.4566%.
Can someone tells me what is the APR now?
One was 9.9% and the other one was 12.9%.

mrmajika

As a general rule, do you not just x 12 ?

If that's the case then you are looking probably about 16.9%

I'm sure someone will clarify.

Spark

I knew once how to make the calculation, but I can't find the website anymore. I wrote it somewhere but cannot find it.Of course:mad:

user1234_2

APR = (1 + i) ^12 Where i = monthly interest rate

So in your case it is (1 + 0.014566) ^ 12 = 18.9% pa

Spark

Well, if it's that high I will stop using those cards.
Their loss, not mine.
Any cards that has a lower APR and uses Equifax for checks?
Experian had my address wrong from the beginning, and they were asking at the time to send them photocopies of driving licence, passport, bank statements, utility bills, all that to a PO Box, so no possibilities to send recorded delivery.
I never done it.
So every time I apply for a card, if they look into my credit rating on experian, I get rejected.
I have an excellent credit rating and report on Equifax though.:D