Check your credit card statement first

Your Annual Percentage Rate (APR) appears on your monthly statement, usually on the first or second page. Look for a section labeled "Interest Rates and Fees," "APR," or "Rate Information." The statement will show your current APR and may list different rates for purchases, balance transfers, and cash advances — each can be different.

If you have not received a recent statement, log into your credit card account online or through the card issuer's mobile app. The APR is displayed in the account overview or under a "rates and fees" or "account details" tab. This is the fastest way to find the number you are currently being charged.

Key Takeaways

  • Your APR is printed on your monthly statement under "Interest Rates and Fees" or a similar heading, and also appears in your online account.
  • Different APRs apply to purchases, balance transfers, and cash advances on the same card, so check which rate applies to your balance.
  • The Schumer Box — a required table on your card's terms document — shows all APRs and when they change, and is available from your issuer or the card's website.
  • If you have not received a statement yet, contact your card issuer's customer service by phone or through the app to ask for your current APR.
  • A promotional or introductory APR expires on a specific date; your statement will show when the regular APR takes effect.

Look at the Schumer Box for all rates and terms

The Schumer Box is a standardized table that credit card issuers are required to provide. It lists every APR your card carries, when each rate applies, and the date any promotional rate expires. You can find it in the card's terms and conditions document, which is usually available on the issuer's website under "disclosures," "terms," or "legal documents."

The Schumer Box also shows your grace period (the number of days you have to pay before interest accrues on new purchases) and any annual fee. If you have the physical card materials from when you opened the account, the Schumer Box is printed on one of those pages. This document is your reference for understanding exactly what you will be charged and when.

Contact your card issuer if you cannot find it

Call the customer service number on the back of your card or log into your online account and use the chat or message feature. Have your account number ready. Tell the representative you want to know your current APR for purchases, and ask whether you have any promotional rates that are about to expire.

The issuer can also tell you whether your APR has changed recently and why. If you have been a customer for a while, your rate may have been adjusted based on your credit score or payment history. Getting this information directly from the issuer takes a few minutes and removes any doubt about which number applies to your account.

Understand what your APR means for your balance

Your APR is the yearly interest rate charged on your balance. If you carry a balance month to month without paying it off, the issuer divides your APR by 365 to get a daily rate, then multiplies it by your average daily balance to calculate the interest you owe that month. A higher APR means more interest paid over time.

If you pay your full statement balance by the due date each month, you pay no interest regardless of your APR — the grace period protects you. Interest only accrues when you carry a balance past the due date. This is why your APR matters most if you regularly carry a balance or plan to transfer a balance from another card.

Know the difference between promotional and regular APR

Many cards offer a promotional APR — a lower rate for a set period, often 0% for 6 to 21 months on purchases or balance transfers. Your statement and online account will show both the promotional rate and the regular APR that takes effect when the promotion ends. Mark the expiration date on your calendar.

When the promotional period ends, your APR jumps to the regular rate unless you have paid off the balance. If you are transferring a balance to take advantage of a 0% offer, calculate whether you can pay it off before the promotion expires. If not, the interest that kicks in afterward may outweigh the savings from the promotional period.

Compare your APR to other cards if yours seems high

Credit card APRs vary widely based on your credit score, the card's category (rewards, travel, basic), and current market rates. A card issuer sets your individual APR within a range disclosed in the Schumer Box. If your APR is at the high end of that range, it reflects your credit profile at the time you opened the account.

If your credit score has improved since you opened the card, you can contact the issuer and ask for a rate reduction. Some issuers will lower your APR if you have a good payment history. You can also shop for a new card with a lower APR and transfer your balance, though balance transfer fees (usually 3% to 5% of the amount transferred) eat into the savings.

Frequently Asked Questions

Can my APR change after I open the account?

Yes. Your issuer can raise your APR if you miss a payment or if a promotional rate expires. They must give you 45 days' notice before increasing your rate on an existing balance. Your APR can also change if the prime rate (set by the Federal Reserve) changes and your card has a variable APR tied to it.

Why do I have multiple APRs on one card?

Different types of transactions carry different rates. A purchase APR applies to regular spending, a balance transfer APR applies to balances moved from another card, and a cash advance APR applies to withdrawals from an ATM. Cash advance APR is almost always the highest. Check your statement to see which rate applies to your current balance.

What does variable APR mean?

A variable APR changes when the prime rate changes. Your rate is set as the prime rate plus a fixed margin (for example, prime plus 15%). When the Federal Reserve raises or lowers the prime rate, your APR moves with it. Fixed APR does not change unless your issuer raises it due to missed payments or a promotional period ending.

Is there a way to lower my APR?

You can call your issuer and ask for a reduction, especially if you have made on-time payments and your credit score has improved. Some issuers will negotiate. You can also transfer your balance to a card with a lower APR or a promotional 0% offer, though you will pay a balance transfer fee of 3% to 5%.

What if my statement does not show an APR?

This usually means you have not carried a balance or incurred interest charges yet. The APR still applies — it just has not been used. Check your online account or the Schumer Box to find your rate. If you cannot locate it anywhere, contact customer service and ask them to provide your APR in writing.