Finance
APR Calculator: True Borrowing Cost
Learn what APR means and why it is best for comparing loans.
APR = true annual cost including interest and fees.
APR vs Rate
Interest = borrowing cost. APR includes fees and closing costs.
Types
- Purchase: Regular rate
- Cash Advance: Higher, no grace
- Penalty: Up to 29.99%
- Introductory: 0% promo
Why It Matters
Same rate, different APRs = different fees. Lower APR = truly cheaper.
Frequently Asked Questions
Good APR?
Cards: <15% good, <10% excellent. >20% expensive.
APR > rate?
APR includes fees beyond interest.
Can APR change?
Yes, for variable-rate. Fixed stays same.