Annual Percentage Rate (APR) and Effective APR

[billybobinthehouse12]

This is a great video

And yeah, I don't advise buying goods using credit card unless you can pay it back quickly

Or in some credit card packages you can get free insurance, when you purchase your holiday on credit.

[paulceltics]

good music

[parklinkin52]

It's hard to only blame the banks.. if people are stupid enough to fall for this, they are begging to be taken advantage of...

[smokenfly514]

So the APR is just a way to make money seem cheaper than it actually is haha?

So slick

[doust]

hie, grt vid, u pliz explain how u turn it into a decimal thank u

[glassvision]

Great video, Sal. This explains exactly how credit cards screw up people if they don't pay off balance. Compounding daily! It's funny the sponsor is Visa. LOL.

[Gorchev82]

Is the Stated Annual Rate the same as the Annual Percentage Rate?

[Sensei8686]

@Gorchev82 Yes, they both do not take into consideration the compounding effect of interest, which would be the Effective APR.

[jaakkokuu]

congrats for the sponsor =)

[cdltpx]

Interesting and deceptive on how they use their special math to get a better rate.

[luistr01]

perfect!!!!!!!