What is 24.99% APR on a credit card

A 24.99% APR means that if a cardholder carried a $100 balance for a year, they would accrue almost $25 in interest to pay on that $100. Of course, no one carries the same balance for a year, but this demonstrates how costly a high-APR card can get if not paid in full each month.

Is 22% APR high for a credit card

Some credit cards have an APR as low as 12.24% for those with the best credit scores. So 22% is a high APR for someone with excellent credit. It is not high for someone with fair to poor credit.

Is 24.99% APR good for a credit card

A 24.99% APR is high for someone with good to excellent credit, but it is in line with an APR for fair to poor credit. It isn't the worst APR there is, but it will get expensive if the cardholder carries a balance.

Do I pay APR if I pay on time

If you pay off your full credit card balance on time each billing cycle, you will not pay APR. Typically, APR is only accrued on outstanding balances. If you do not pay off the full balance and instead carry a balance from month to month, you will pay APR on the remaining amount.