What are interest rates on credit cards?

The interest rate is the extra money you pay on your outstanding balance. If you pay off your balance entirely every month, then you will pay no interest. Your card *may* be the type that charges an annual fee. Not all cards do. Read the fine print carefully before you accept any card.

cmi cart or visa ?

APR = average percent rate. It varies, depending on your credit score. When it comes to 1st time in getting a credit card it's normally the " highest" like 25%. BUT once you build up your credit it can go down from 4 to 7%. If you pay your payment in full and on time, you will NOT pay any interest. Just make sure if your paying it w/ a check that you pay it 2 days prior to the due date. Some credit card company's wait til the check has been cashed, before applying it on your account.

You really don't want a credit card, if the issue is needing money for the month but you get paid at the end of the month, just try jumping a month and getting a debit card. Even if you pay in full on time every month credit card companies have ways of charging you interest. Some charge you interest regardless.

If you pay the full balance every month you'll never have to pay interest and worry about the rate. If however you don't pay the full amount, you will be charged interest on whatever the remainder is. The interest rates you see on cards are per year so when you see 24% interest you'll be charged one twelfth of that each month (so 2% in this case). It doesn't sound like much but adds up if you only pay the minimum balance - in some cases you can end up paying over twice the original price of the item by the time you pay it off. The actual interest rate you will be charge varies from card to card and even from account to account. Some high interest cards can get as high as 20-30% or even more.

Just pay your account promptly each money and you will avoid paying interest .