During the days when the federal bank rates of interest were at their lowest, in 2002 and 2003 to be specific, countless charge card providers offered % APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their limits without incurring monthly interest charges. The question that many people were asking when these cards were at their height of popularity was this: how do credit card providers earn money from this type of program? Well, great question! Let’s examine % APR charge cards and exactly how they function. You simply may be surprised in the answers!
