How does credit card APR affect you even if you pay off your balance in time?

I've been thinking as long as you pay off your credit card balance in time before their due date, you only pay for what you swipe. I thought APR kicks in ONLY if you don't pay in time.

Am I wrong or right? Please explain. Thank.

You are right. As long as you pay the balance every month you will not be charged any interest. Unless you do cash advances and those you are charged interest right away.

What credit card APR should be expected with a credit score of 692?

Chase refuses to lower my husband's credit card APR below 29.99%, even with a credit score of 692. He's never been late on a payment. We're hesitant to just transfer to a new card, since his score will take a hit for it. Does anyone know why Chase would be so difficult or have suggestions on how we should approach this? Thanks!

Don't worry about the hit! You should NEVER EVER, EVER have to pay an APR of 29.99% with that kind of credit.

692 is respectable, and they are giving you a totally disrespectable rate.

The hit will only be a few points (unless you've had tons of inquiries in the past 90 days or so.)

Get a better card. Try a credit union. That is robbery and it makes me sick to hear that they are doing that to you. Call and cancel, cut it up and never do business with them again.

What is meant by prime when referring to your credit card APR?

I am looking for a card with a fixed low interest rate but some say that the APR depends on your prime (balance?) Does this mean that the balance will make the APR fluctuate?

"Prime" refers to the lowest interest rate at which banks will lend money to their best corporate customers with the best credit rating. Typically, floating interest rates on lower rated customers will be set at "Prime" plus a margin of extra interest points...IE: "Prime + 3" means that if Prime rate is 7 percent, then Prime plus 3 would be 10 percent (7+3)

My APR on two of my cards is higher than 20%. I called the company and they will only lower each one by 1%. I checked my credit report and it's excellent.

Get new cards with lower rates.

Important: Never cancel those cards w/ high APR. Leave them open. Having a long history with a credit card is good for your credit score.

What would be a good credit card apr for me?

My credit score is a 705 if I remember correctly.

Wow.. nice score.. anything withing 7 to-12max!!! many apr's also vary with the bank.. you can usually get promotions.. if they offer any like 0% intro for 6months to 1 year.. but just check it out... its good to have credit just carefulll how you use it