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On a credit card, for people struggling unable to pay it off in full every month, what's the difference between "annual percentage rate" and "monthly interest rate" for unpaid balance?
Post Reply RetroFed Forum Forum Index » Personal Finance
AuthorMessage
LemmyKnowsBest lemmy.world LemmyKnowsBest@lemmy.world
Joined: 2023-11-11
Quote

For example some credit cards have ridiculous monthly interest like 29.9%

While offering a low 0.9% APR.

Please explain.
2   Original
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