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Penalty APR

A penalty APR, or often called a Default APR, may be enstated when cardholders default on some term of their credit agreement, such as missing payments or exceeding credit limits. Penalty APRs are continually on the rise, currently soaring as high as prime +25.99%. Some credit cards claiming a "universal default" may even charge higher interest rates when you default with another creditor.

Previous Credit Card Term: Overdraft protection

Next Credit Card Term: Penalty Fees

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.