What do I need to know about annual percentage rates for credit cards?

When it comes to annual percentage rates (APR) for credit cards in North Carolina, there are a few important things to know. First, the creditors and credit card issuers in North Carolina must disclose the applicable APR when you open a new account or when it is adjusted. Additionally, creditors are required to provide a written notice at least 45 days prior to adjusting the APR. Second, it’s important to understand how the APR can affect you as a consumer. The APR will determine the amount of interest you must pay each month on the debt you owe. Generally, the higher the APR, the more interest you will pay. So it’s important to do your research and compare different providers to find the best possible rate. Third, North Carolina credit card dispute resolution law protects consumers who feel like their APR is too high or was adjusted without their knowledge. If you think there was an error in your APR, you can dispute the charge with your credit card issuer. The issuer must respond to the dispute within 45 days, and if they cannot resolve it, you may have the right to file a lawsuit. Overall, understanding what you need to know about APRs in North Carolina can save you money and protect your rights. Make sure to do your research before applying for a credit card and know your legal rights should you have any issues with your provider.

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What do I need to know about annual percentage rates for credit cards?

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