What is the Difference in the Credit Card Purchase APR and the Cash APR?
Author: mountain
Posted: Wed Jun 28, 2006 8:29 pm
Post subject: Cash APR and Purchase APR?
Hi, could someone explain to me what the above terms mean? I just noticed that both of the rate are >20% in my account. Thanks in advance.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: EasyRhino
Posted: Wed Jun 28, 2006 9:03 pm
Post subject: What is the Difference in the Credit Card Purchase APR and the Cash APR?
Well, the conclusion is either you have a credit card for people with notsogreat credit, or your credit card company hates you (default clause if you have missed payments, etc.).
Anyway.
Cash APR is charged on cash advances (money out of ATM, money from bank, sometimes those checks that they send you). This is usually higher, and there's usually no grace period before it's charged.
Purchase APR is the rate charge on regular stuff. Purchases. There is usually a grace period where if you pay it off with your statement, no finance charges at all.
Author: mountain
Posted: Wed Jun 28, 2006 9:06 pm
Post subject:
This credit is actually my first.
Author: davej
Posted: Thu Jun 29, 2006 2:29 am
Post subject: What is the Difference in the Credit Card Purchase APR and the Cash APR?
Pay your bills in full and on time for six months or so and then call your bank and ask for APR reduction. If you pay in full every month and avoid taking cash advances, you don't have to worry about your APR much until you establish yourself with your CC company enough to ask for a better rate. There's a sticky thread here about that, check it out
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed Jun 28, 2006 8:29 pm
Post subject: Cash APR and Purchase APR?
Hi, could someone explain to me what the above terms mean? I just noticed that both of the rate are >20% in my account. Thanks in advance.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: EasyRhino
Posted: Wed Jun 28, 2006 9:03 pm
Post subject: What is the Difference in the Credit Card Purchase APR and the Cash APR?
Well, the conclusion is either you have a credit card for people with notsogreat credit, or your credit card company hates you (default clause if you have missed payments, etc.).
Anyway.
Cash APR is charged on cash advances (money out of ATM, money from bank, sometimes those checks that they send you). This is usually higher, and there's usually no grace period before it's charged.
Purchase APR is the rate charge on regular stuff. Purchases. There is usually a grace period where if you pay it off with your statement, no finance charges at all.
Author: mountain
Posted: Wed Jun 28, 2006 9:06 pm
Post subject:
This credit is actually my first.
Author: davej
Posted: Thu Jun 29, 2006 2:29 am
Post subject: What is the Difference in the Credit Card Purchase APR and the Cash APR?
Pay your bills in full and on time for six months or so and then call your bank and ask for APR reduction. If you pay in full every month and avoid taking cash advances, you don't have to worry about your APR much until you establish yourself with your CC company enough to ask for a better rate. There's a sticky thread here about that, check it out
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:23 PM
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