What does Standard APR mean?
When you are making an application for a credit card, you may notice that the offer comes with an advantage of a low annual percentage rate (6% for the first year for example), or even with a 0% introductory annual percentage rate (this means that for six months you will not be paying interest). But the standard APR is actually the interest percentage you will have to pay for after the introductory period is over, and with a secured credit card option you may even pay 20% APR.
Of course it differs from one issuer to the other how they calculate the APR; but bear in mind that for cash advances, withdrawals, and purchases there will be set different values as for the interest you will be charged. Balance transfers and late payments are the two most important things you have to watch out when you use a credit card, as the interest charged for these ‘practices’ is overwhelmingly high.