Glossary · Credit
APR (Annual Percentage Rate)
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Definition: The total annual cost of borrowing, including interest and standard fees, expressed as a percentage.
APR makes credit comparable across products and providers. Representative APR is the rate at least 51% of accepted applicants will receive — the rate you are offered may differ depending on your credit profile.
Primary source: fca.org.uk (CONC 3 — Financial promotions)