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Daily rate. Find this rate by dividing your credit card’s purchase APR by 365 — the number of days in a year. Average daily balance. Add up your balances at the end of each day in the billing ...
The term annual percentage rate of charge (APR), [1] [2] corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), [3] is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, [4] etc. It is a finance charge expressed as an annual rate.
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