October 23, 2012 When comparing credit cards it is important to
know a few basic things. None of these require that you be a
financial expert or math wizard, but are instead simple things
that will help you make the smartest choice when making a
decision as to what credit card to apply for. There are two
essential things you need to know so you can make a smart
decision when choosing a credit card. First, what APR actual is
and second how to calculate the actual interest fee you will be
paying. First APR, or annual percentage rate, is the interest
rate spread across the year as opposed to something like a
monthly interest rate. You should be aware there are two types
of APR. Nominal APR is what credit card companies are required
to reveal and often advertise. It represents the simple interest
rate. The effective APR, a rate often not advertised, takes into
consideration the compound interest rate. It is a more accurate
representation of what you will be paying on your credit card as
it takes into consideratio