: Interest often compounds daily, meaning you pay interest on both your original balance and the interest that has already accumulated.

: A low or 0% rate offered to new customers for a limited time (e.g., 12–21 months).

: A much higher rate triggered if you miss payments or violate terms. What Determines Your Rate?

You can find your card's specific rates in the Schumer Box on your monthly statement or original agreement.

: Most credit card APRs are variable , meaning they fluctuate based on the Prime Rate , which is influenced by the Federal Reserve.