Each month, credit cards require a minimum amount to be paid toward the total debt. Paying off your credit card in full every month is considered good practice and helps you avoid paying interest.
The APR determines how much additional interest is added to your balance to be paid. APR accounts for fees and other costs in addition to the credit product’s interest rate.
How you use your credit cards can have considerable implications for your personal finances now and in the future—for better or worse.