Maybe this is an idiot question, but what EXACTLY is APR? I need to know what it is in terms of actualy money that is spent... for example:
Let's say that I buy stuff in May with a credit card, and I don't pay the credit card company until June, is the APR a certain percentage of what I spent in May (in this example at least) that gets added on to what I owe them? Or is APR something I have to pay even if I don't use the card at all?
I need a credit card, and I need it bad. I just want one so I can get a cell phone.
EDIT: Greeneyes already addressed my question through instant messaging. Many thanks to her
I have another question that is probably less foolish...
I can't seem to get a credit card because I don't have enough "established credit"... well no shit. I hate credit card companies already... anyway, I was reading that each application for a credit card appears on my credit report. What bullshit. So now I have like 10 rejected applications, which, as I read, is pretty bad, because it makes me look desperate for credit. Well, fuck 'em. Anyway, I read that it's much easier to get a gasoline card, like with Chevron or something. Okay, that's great, but how much will I have to spend on that card until I have sufficient "established credit"? Or is it based on how long I've had the card? 'cause I really do need a cell phone.