Your interest rate is printed on your statement and in your online account
The interest rate on your credit card — called the Annual Percentage Rate or APR — appears in three places you can reach right now. Your most recent paper statement lists it near the top or bottom, usually under a section called "Interest Rates and Fees" or "APR." Your online account shows it on the main dashboard or under a tab labeled "Account Details" or "Card Information." Your card issuer also mailed you a document called the Schumer Box when you opened the account; if you still have it, the APR is printed there in a box format.
If you cannot find your statement or do not have online access yet, call the customer service number on the back of your card. A representative can tell you your APR in under a minute. Have your card number ready when you call.
Key Takeaways
- Your APR appears on every monthly statement, in your online account dashboard, and in the Schumer Box document you received when you opened the card.
- Most credit cards have more than one APR — one for purchases, one for balance transfers, and one for cash advances — and they may differ.
- A variable APR changes when the prime rate changes, while a fixed APR stays the same unless your issuer notifies you of a change.
- Calling the customer service number on your card is the fastest way to confirm your current APR if you cannot locate your statement.
Understanding multiple APRs on one card
Your card likely has three different interest rates, not one. The purchase APR applies to everyday charges like groceries or gas. The balance transfer APR applies if you move debt from another card to this one. The cash advance APR applies if you withdraw cash from an ATM using your card. All three rates are listed on your statement and in your online account, and they are often different from each other.
Cash advance APR is almost always the highest of the three. Balance transfer APR is often lower than purchase APR, especially if you are moving debt during a promotional period. Check your statement to see which rate applies to the transaction you are asking about.
The difference between fixed and variable rates
A fixed APR stays the same month to month unless your card issuer sends you a written notice that it is changing. A variable APR moves up or down based on changes to the prime rate, which is set by the Federal Reserve. Most credit cards use variable rates, which means your APR can increase or decrease without advance notice, though issuers must tell you when it changes.
Your statement tells you which type you have. If it says "variable," your rate will shift when the prime rate shifts. If it says "fixed," you are protected from increases unless the issuer formally notifies you — though they can still raise your rate if you miss a payment or violate your card agreement.
Introductory rates and promotional periods
If you recently opened your card or did a balance transfer, you may have a temporary APR that is lower than your regular rate. This is called a promotional or introductory rate, and it lasts for a set number of months — commonly 6, 12, or 18 months. Your statement clearly labels when this period ends and what your APR will be after it expires.
Write down the expiration date. When the promotional period ends, your interest rate jumps to the standard rate unless you transfer the balance elsewhere. If you still carry a balance when the promotion ends, you will start paying the higher rate on any remaining debt.
Why your APR might be different from what you expected
Credit card companies offer a range of APRs to different customers based on creditworthiness. If you were told "APR from 18% to 29%" when you applied, you received one rate within that range. Your actual rate depends on your credit score, income, and payment history at the time you applied.
Your rate can also change if you miss a payment or violate your card agreement. Most issuers have a penalty APR that kicks in after a late payment, and it is usually higher than your regular rate. This penalty rate may explore to new purchases as well as your existing balance. Your statement explains when a penalty rate applies and how long it lasts.
How to compare your APR to other cards
Once you know your current APR, you can compare it to rates offered by other issuers. Most card offers show the APR range upfront — for example, "18% to 25% APR." You will not know your exact rate until you explore, but you can use the range to see whether another card might cost you less.
If you carry a balance, a card with a lower APR saves you money each month. If you pay your full balance every month, the APR does not matter because you pay no interest. In that case, focus on rewards, annual fees, and other features instead.
Frequently Asked Questions
Can my credit card company change my APR without telling me?
A variable APR can change without advance notice because it is tied to the prime rate. However, your issuer must notify you when the rate changes. A fixed APR cannot increase unless your issuer sends you written notice, though they can raise it if you miss a payment or break your card agreement.
Why is my cash advance APR so much higher than my purchase APR?
Cash advances are treated as higher risk by card issuers because they are unsecured loans with no grace period. Interest starts accruing when ready, and the APR is typically 3 to 5 percentage points higher than your purchase rate. Avoid cash advances unless you have no other option.
What does it mean if my APR says "variable"?
A variable APR is linked to the prime rate set by the Federal Reserve. When the prime rate goes up or down, your APR moves with it. This means your rate can increase or decrease several times a year, though your issuer must notify you of each change.
If I have a 0% introductory APR, do I pay any interest during that period?
No. During a 0% promotional period, you pay no interest on the balance covered by the promotion. Once the period ends, any remaining balance is charged interest at your regular APR. Pay attention to the expiration date so you are not surprised by interest charges.
How do I know if a penalty APR has been applied to my account?
Your statement lists any penalty APR and explains what triggered it. Most commonly, a penalty rate applies after you miss a payment by 60 days or more. The statement shows when the penalty rate ends — usually after six months of on-time payments.