Annual Percentage Rate (APR) FAQs Where can you find your credit cards Annual Percentage Rate (APR)? Your credit cards APR can usually be found on your monthly statement or in the terms and conditions of your account. How do you calculate Annual Percentage Rate (APR)? To calculate APR, you will need to add together the origination fees and total interest paid, divide this result by the principal loan amount, divide again by the length of your loan, multiply the result by 365, and then multiply by 100. What is the difference between Annual Percentage Rate (APR) and Annual Percentage Yield (APY)? APR takes into account all costs associated with borrowing money, while APY calculates how much interest you will earn if you leave your money invested for a year. What is a good Annual Percentage Rate (APR)? The Fed's current national average APR sits at a competitive 20.40%, which makes it an advantageous rate if your own APR is equal to or below this benchmark. Is Annual Percentage Rate (APR) charged monthly? APR usually refers to the interest charged for a year and is typically not set monthly. However, you may be charged monthly interest if you carry a balance on your credit card. The current APR for your card can be found on your monthly statement or in the terms and conditions of your account. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.