 TITLE: How to Compare Credit Card Interest Rates CONTENT: ### Purchase Annual Percentage Rate\nAt the top of this table will be the interest rate for purchases, often referred to as the Purchase Annual Percentage Rate (APR). This is the interest rate that applies to all the purchases that you make with your card. With many credit cards, the first number you see will be a promotional rate, which is only available for a limited amount of time. For example, a credit card may offer \"0% intro APR for the first 15 billing cycles that your account is open.\" Below that introductory rate, it will show the standard interest rate for purchases, which only applies to your existing balance after the introductory rate expires.\n### Balance Transfer Annual Percentage Rate\nBeneath the purchase rate you see will see the rate for balance transfers, also called the Balance Transfer APR. This is the rate that will apply to any balance that you transfer from another credit card. Here as well, you could have a 0% introductory rate, followed by a standard rate.\n### Cash Advance Annual Percentage Rate\nNext will be the Cash Advance APR, which is the standard interest rate that applies to any cash you access through an ATM or bank, and some other cash-like transactions.\n### Penalty Annual Percentage Rate\nA penalty APR is a much higher interest rate that only applies when you make a late payment. A card's terms might list a Penalty APR, and explain when it would apply. Rather than trying to compare penalty interest rates between cards, it's best to try to avoid ever being charged a penalty interest rate to begin with. But if you feel that you may still incur the penalty interest rate, then you can look for one of a growing number of cards that no longer have penalty interest rates at all.\n### Specific Interest Rates Versus Ranges of Rates\nWhen it comes to a card's standard interest rate, or APR, some credit cards simply offer a single number that makes it very easy to compare. When a single rate is listed, all account holders will receive that rate once their application is approved.\nBut increasingly, many credit card issuers are listing a range of rates, along with the explanation that the rate you receive will be based on your creditworthiness when you open your account. For example, a card may offer a standard interest rate for purchases of 13.99% to 23.99%. This means that if you have an excellent credit history, then you might qualify for a rate as low as 13.99%, while those with fair or average credit may receive a rate as high as 23.99%.\nYou might also see a range of rates, rather than a single APR, for balance transfers and cash advances too. Finally, there are some cards that might offer three or four possible rates, with the one you receive being dependent on your creditworthiness when you applied. END