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What does "APR" stand for in the context of credit cards?
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Annual Percentage Rate
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Average Payment Requirement
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Available Credit Period
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Account Performance Rating
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Annual Percentage Rate (APR) is the annualized interest rate charged for borrowing on a credit card. It represents the cost of borrowing, including interest and fees, expressed as a percentage. Understanding APR is crucial for evaluating the overall cost of credit and making informed financial decisions.
