Definition
APR (Annual Percentage Rate)
The yearly cost of borrowing money, including interest and most fees.
APR expresses what a loan or credit card actually costs you per year, rolling the interest rate together with certain fees into one percentage. A lower APR means cheaper borrowing.
For credit cards, the APR is charged on any balance you carry past the due date. Paying the statement in full each month means you generally pay no interest at all, regardless of the APR.