APR stands for Annual Percentage Rate, which is the yearly interest rate youll pay if you carry a balance on your credit card. It includes the interest rate that applies to your account plus other fees related to that account. Credit card companies take your credit score into account when setting your APR, with a higher credit score generally translating to a lower interest rate. Credit card users should be aware that credit cards often have a number of APRs, such as one for purchases, another for balance transfers, and another for cash advances. As a general rule, credit card companies tend to charge a higher APR for cash advances because theres no grace period, meaning the interest begins accruing as soon as you withdraw the money. Its important to familiarize yourself with your credit cards terms and conditions, including its APRs, to avoid paying any interest charges if you pay off the balance of your card before the statement.