APR vs Flat Rate Calculations

MarkyMarkD

I don't understand you, that's for sure.

APR is legally required to be stated at least as prominently as any other rate. I don't understand why you think banks are not doing this.

Robert_Sterling_3

MarkyMarkD wrote:

And I ignore the distinction between AER and APR - to anyone but a pedant, the difference doesn't matter.

For "pedant" substitute "person who really understands what APRs are all about and exactly why the law insists that they be displayed at least as prominently as any other rate"

MarkyMarkD

I shan't substitute that - I know exactly how, and why, APRs have to be displayed prominently - but that has nothing to do with caring whether an AER is different to an APR - which fundamentally it isn't.