 TITLE: What Is a Penalty APR? CONTENT: Should Finding a Card Without a Penalty APR Be a Priority?\n----------------------------------------------------------\nWhile there are credit cards with and without penalty APRs, you should generally focus on other features, fees and benefits when trying to pick a new card. A penalty APR can lead to more interest expenses, but only if you don't make a minimum payment.\nA penalty APR should also be a low concern relative to the other consequences of missing a credit card payment. Credit card late fees, for example, can cost $20 to $40 and likely outweigh your additional interest charges due to a penalty APR. And if you're worried about being consistently late on your payments, keep in mind that being over 30 days late could result in the card issuer reporting a late payment to the credit bureaus, which will hurt your credit.\nA card that doesn't have an annual fee or has a low standard APR might save you money, making it easier to afford your payments. Even if a card does charge a penalty APR, making all your payments on time will prevent it from affecting you. If you want to compare cards' terms quickly and get matched with cards, you can use Experian CreditMatchTM to review the current offers. END