Credit card A offers an introductory APR of 3.4% for the first 3 months and a standard APR of 15.7% thereafter, while credit card B offers an introductory APR of 4.2% for the first 3 months and a standard APR of 15.5% thereafter. All else being equal, which of these statements is correct? (Assume all interest is compounded monthly.)

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13 February, 10:36

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Natalia Newton · Answer 1

Credit card a is the better deal over the course of the first 3 months and over the course of the first year.