What does Variable APR mean?
Schumer Box Review

Flashcard
•
Social Studies
•
12th Grade
•
Hard
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25 questions
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1.
FLASHCARD QUESTION
Front
Back
Variable APR means an interest rate that can fluctuate based on national standards.
2.
FLASHCARD QUESTION
Front
Which APR is applied when you try to withdraw cash from a bank or ATM using your credit card?
Back
APR for Cash advance
3.
FLASHCARD QUESTION
Front
What specific APR should Trevor be paying most attention to when transferring credit card debt?
Back
APR for Transfers
4.
FLASHCARD QUESTION
Front
Which type of APR is applied to the balance you don't pay off each month on what you've bought during that billing cycle?
Back
APR for Purchases
5.
FLASHCARD QUESTION
Front
Which type of APR is applied when you make a late payment?
Back
Penalty APR
6.
FLASHCARD QUESTION
Front
After withdrawing money with your credit card from an ATM or Bank, how soon is the Cash Advance APR applied?
Back
Immediately after the cash withdrawal.
7.
FLASHCARD QUESTION
Front
Lizzie believes that you only need to know about the different APR's for a card in case you make any mistakes because that's all they'll charge you. Is she right?
Back
No. Credit Card companies also charge fees (one-time or multiple) along with the APR they'll apply each month.
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