A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- APR (Annual Percentage Rate)The yearly cost of borrowing money on a loan or credit card, stated as a percentage that includes interest and certain fees.
- Cash Advance APRThe typically higher interest rate charged when you use a credit card to withdraw cash, often with no grace period.
- Penalty APRA higher interest rate a card issuer may apply after you miss payments, increasing the cost of any balance you carry.
- Credit CardA card that lets you borrow from a lender for purchases up to a limit, requiring repayment and charging interest on unpaid balances.
- Finance ChargeThe total cost of borrowing on an account for a period, including interest and any applicable fees.
- Grace PeriodA short window after a due date during which you can pay without a penalty or, on some cards, avoid interest entirely.
Turn this into a brick
Knowing what Purchase APR means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.