annual percentage rate

But if you pay your bill in full each month, the card’s annual percentage rate doesn’t matter since you’ll never be charged interest.

These plans range from months to years and charge an annual percentage rate of up to 36%, depending on the provider.

This is known as an APR or Annual Percentage Rate.

He recommends borrowers be “leery” of working with any small-business lender that won’t provide an annual percentage rate, as predatory lenders often try to hide the true cost of borrowing behind something like a factor rate.

A credit card with an introductory 0% annual percentage rate may be an especially good option, says Bertman.