The APR is a measure of the cost of credit, expressed as a yearly interest rate. This is the time between the date of a purchase and the date interest starts being charged on that purchase. If your card has a standard grace period you have an opportunity to avoid finance charges by paying your current balance in full. Some credit cards issuers allow a grace period for new purchases even if you do not pay your balance in full every month. If there is no grace period, the credit cards issuer imposes a finance charge from the date you use your card or from the date each transaction is posted to your credit cards account.
Some issuers charge no annual fee.
Transaction fees and other charges. Some credit cards issuers charge a fee if you use the card to get a cash advance, if you fail to make a payment on time, or if you exceed your credit limit. Some may charge a flat fee every month whether you use the card or not. Kinds of Credit Cards Accounts Credit grantors generally issue three types of credit cards accounts. A consumer pays in full each month or chooses to make a partial payment based on the outstanding balance.