Most credit cards come with what is called a penalty APR. This is a higher-than-average interest rate that credit card issuers may impose if you show certain irresponsible behavior, like making late or returned payments, or going over your credit limit. You do have some options if you’re stuck with a penalty APR, like requesting a lower rate or using a balance transfer. Learn all about penalty APR’s in our video with credit expert John Ulzheimer.
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