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How does the APR of a lower interest rate credit card compare to that of other types of credit cards?

Curious about Lower interest rate credit cards

How does the APR of a lower interest rate credit card compare to that of other types of credit cards?

A lower interest rate credit card typically has a lower APR (Annual Percentage Rate) than other types of credit cards, such as rewards cards or store credit cards. The APR is the interest rate charged on the balance carried over from month to month. The lower the APR, the less interest you will pay on your credit card balance.

While some credit cards may offer a low or 0% introductory APR for a limited time, a lower interest rate credit card typically has a lower ongoing APR that remains in effect beyond the introductory period. However, it's important to note that the APR offered by a credit card issuer can vary based on factors such as the applicant's creditworthiness, credit history, income, and debttoincome ratio.

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