APR on credit cards stands for Annual Percentage Rate. It represents the yearly cost of borrowing money on the card, expressed as a percentage of the amount borrowed. This rate includes the interest charged and any standard fees like annual fees, but it does not include extra charges such as late payment fees or cash withdrawal fees

. Key points about credit card APR:

• APR gives you an estimate of how much borrowing on a credit card will cost over one year.
• A higher APR means borrowing is more expensive; a lower APR means it is cheaper.
• The APR you are offered depends on your credit score and financial history; the advertised "representative APR" is the rate offered to at least 51% of applicants

• Credit cards may have different APRs for purchases, balance transfers, cash advances, and penalty APRs that apply if you miss payments or break terms

• If you pay your full balance every month, you generally do not pay interest, so APR becomes less relevant

In summary, APR is a useful measure to understand the cost of carrying a balance on a credit card and to compare credit card offers, but it does not include all possible fees and charges