No. of Recommendations: 1
Today I decided to actually look at the bottom of my Citi card statement, the part that lists the interest rates for standard purchases vs. cash advances, etc.

And I nearly fell over when I saw this listed for standard purchases:

Nominal APR: 15.990% <------what does "nominal" mean?
Annual APR: 36.000%

The interest rate for cash advances is 19.90% (which I've never used, but would expect to be a higher rate than for standard purchases.)

So... my question is about the Annual APR of 36%. A rate that high would indicate a customer with a lousy payment history and/or a very low FICO score.

Yet I have a spotless record since 1983 with this particular card, and never carry a balance on it (or any other CC), paying them all in full each month well before their due dates. And my FICO score is in the mid-800's.

So what gives? Obviously I'm going to have to call them to ask, but am curious what you Fools think is going on here.


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