Lists of alternative financial services: Difference between revisions
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== What is APR, why does it matter? == | == What is APR, why does it matter? == | ||
{{Q|APR stands for the [[w:annual percentage rate|annual percentage rate]].|everyone|annual percentage rate}} | |||
{{Q|In many countries and jurisdictions, lenders (such as banks) are required to disclose the "cost" of borrowing in some standardized way as a form of [[w:consumer protection|consumer protection]]. APR is intended to make it easier to compare lenders and loan options.|Wikipedia|annual percentage rate}} | {{Q|[...] In many countries and jurisdictions, lenders (such as banks) are required to disclose the "cost" of borrowing in some standardized way as a form of [[w:consumer protection|consumer protection]]. APR is intended to make it easier to compare lenders and loan options.|Wikipedia|annual percentage rate}} | ||
{{Q|In [[w:EU|EU]] all loaning operations must show the APR for their example loans that they use to market their services.|[[w:European Parliament|European Parliament]]|law regarding advertisement of loans}} | |||
* APR can range from '''hundreds of percent''' to '''few tens''' of percent. Credit card debt is usually in the 10-15% zone. | * APR can range from '''hundreds of percent''' to '''few tens''' of percent. Credit card debt is usually in the 10-15% zone. | ||