New Member
Posts: 2
Registered: ‎03-14-2007

APR vs. Effective APR

Hi everyone..... Apologies in advance if this is a recurring topic; I couldn't find it anywhere. I have been keeping a log of my CC payments, balances, etc for over a year. I was updating info on my spreadsheet and noticed that now I see the following on many of my statements: Annuals Percentage Rate: 22.55% Effective Annual Percentage Rate: 36.79% Now mind you this one I used as an example is zero'ed out, so I don't carry a balance and have no annual fee (dept store card) but am curious what is the difference? And which am I actually being charged on any purchases. Thanks!!!! Terri

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+