What is APR?

APR is the annual percentage rate, a single figure that puts the yearly cost of borrowing in one place, including interest and some fees, so card offers can be compared on a like-for-like basis. Debit cards rarely charge interest because you repay in full, so APR mainly matters on credit cards and on cards that allow a balance to be carried. The figures here span a wide band. Access Bank Cards charges an APR of 3.5% and Access Bank Zambia Premium Elite charges 3.5%, while ActivoBank charges 17.9%. Absa charges an APR of 20.25% to 25.75% and AffinityPlus Credit Union charges 14.65% to 18%. Where a range is given, the low end is the best case and the high end the worst, so the upper figure is the safer number to plan around.