When you apply for a credit card, you’ll be offered an APR (Annual Percentage Rate). This is basically how much your credit card will cost you to use over the course of a year.
Most credit cards are advertised with a ‘representative’ APR – the best rate providers must offer to 51% of their customers; typically those with the highest credit ratings.
If a credit card is advertised with a ‘guaranteed’ APR, that will be the actual interest rate you’ll be charged if your application is accepted.