The terms worth knowing
- APR: the yearly cost of borrowing, including interest and some fees.
- Representative APR: the rate at least 51% of accepted applicants get.
- Minimum payment: the least you must pay each month to stay in good standing.
- Credit limit: the most you can borrow on the card.
- Cash advance: withdrawing cash, usually at a higher rate.
Frequently asked questions
Why is my rate higher than the representative APR?+
Lenders only have to give the representative rate to just over half of accepted applicants; yours depends on your circumstances.