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A cash rebate, also known as "cash back," is a way that credit card companies... ...more
The annual percentage rate is the rate of interest that the credit company will charge you on your unpaid balance per year. Though the APR is stated as an annual fee, it is charged to you each month that you have an unpaid balance on your credit card.
The annual percentage rate also comes into effect when you get a cash advance or transfer a balance from another credit card. But the rates charged on each of these transactions may vary even on a single credit card. For instance, the credit card may have one APR for cash advances, another for balance transfers, and yet another for unpaid balances. Often, the highest APR on a credit card is the one that applies to cash advances.
Here is an example of how the APR works: if your credit card offers an APR of 15% on cash advances, you can expect to be charged the daily equivalent of $.15 per year on every dollar you withdraw each day that you don't pay it back.