How do I calculate my credit card APR?

Calculating your credit card Annual Percentage Rate (APR) in Indiana is easy. It requires knowing your total amount of debt, your credit card balance, and the interest rate that your credit card issuer charges. To calculate your APR, start by calculating the number of days between your statement close date and the payment due date. Next, divide your credit card balance by the number of days you’ve calculated. This will give you your daily periodic rate. Then, multiply your daily periodic rate by 365 to get your annual percentage rate. Your APR will be the sum of the interest you pay for the year, plus any fees, such as penalties for late payments or transaction fees. So, the higher the APR, the more fees you’ll pay on your credit card. Finally, if you’re trying to compare credit cards, make sure to look at more than just the APR. Different credit cards may have different terms and benefits, so consider those before settling on the card with the highest APR. In Indiana, the credit card laws provide protection to consumers against predatory practices, so be sure to educate yourself on these and the regulations of your credit card issuer. Doing so will help you make the best decisions when managing your credit card debt.

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How do I calculate my credit card APR?

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