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  • FIRST POST
    • jimbo26
    • By jimbo26 28th Jun 18, 2:10 PM
    • 639Posts
    • 466Thanks
    jimbo26
    Interest Rates?
    • #1
    • 28th Jun 18, 2:10 PM
    Interest Rates? 28th Jun 18 at 2:10 PM
    I am trying to compare my three credit cards, but all describe the interest rates differently, making it difficult to compare. I get APR on card 2 but have no idea what the others mean and how to convert them to APR. A quick Google hasn't helped either. Any ideas?

    Card 1

    Annual Simple Interest Rate
    Annual Compound Interest Rate

    Card 2

    Annual Percentage Rate (APR)


    Card 3

    Purchase Interest Rate (this is not APR too low a figure 1.75%
Page 1
    • YorkshireBoy
    • By YorkshireBoy 28th Jun 18, 2:26 PM
    • 30,531 Posts
    • 18,478 Thanks
    YorkshireBoy
    • #2
    • 28th Jun 18, 2:26 PM
    • #2
    • 28th Jun 18, 2:26 PM
    Annual compound rate is the same as APR.

    Annual simple rate (sometimes termed annual non compounded rate) is 12 x monthly rate.

    Google 'APR converter'.

    Card 3 quotes a monthly rate.
    • jimbo26
    • By jimbo26 28th Jun 18, 2:37 PM
    • 639 Posts
    • 466 Thanks
    jimbo26
    • #3
    • 28th Jun 18, 2:37 PM
    • #3
    • 28th Jun 18, 2:37 PM
    Many thanks YorkshireBoy
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