Understanding APR in Credit Card Singapore
There are several things that you need pay attention to when you are getting a credit card in Singapore such as the rate of interest, the annual fee of the card, charges that would decide how expensive or inexpensive our credit card is going to be. But there is one major charge that most of us ignore when studying a credit card and that is APR. APR or Annual Percentage Rate is the rate of interest one has to pay for borrowing on their credit card. Different types of APR There are different types of APR that we don’t know about. Let’s learn more about the different types of APR: Purchase APR: Purchase APR is applicable on all the purchases made on the credit card. This is very different from the rate of interest charged. Balance Transfer APR: Balance Transfer APR is charges applied when one transfers a balance to their new credit card. Cash advance APR: Cash Advance APR is the interest rate charged whenever the cardholder makes a withdrawal with the card. APR grace...