What Is the Difference Between Interest Rate and Apr?
When it comes to credit cards, there is no difference between the interest rate and the APR, which stands for Annual Percentage Rate.
Lenders have to show an APR which represents the total annual cost of a loan. With mortgages, for instance, the APR can include the interest rate, points and other fees. However, with credit cards, the APR only includes the interest rate. Items such as annual fees and balance transfer fees don't have to be included in the APR because not all cardholders may pay those costs each year.