No. of Recommendations: 2
someone explain what a "Composite Annual Percentage Rate" is? I'm also curious why my "Total Periodic Finance Charges" and "Cash Advance Transaction Finance Charges" equal more than my minimum payment.
This is why I'm so confused. My "Corresponding APR" for purchases is 19.80% and for Cash Advances is 21.80%. Somehow my composite APR is 60.93%. I guess passing College Algebra didn't mean much for me...?

Ah! Did you pay cash-advance fees during this billing period? If so, it sounds as if they might've considered the transaction fee to be a "finance charge", and factored that into your composite rate. If you only have a couple hundred dollars left on the card, $3 of cash-advance fees would annualize to $36, which would add another 18% to this period's composite rate on a $200 balance.

Just an idea...whether it has anything to do w/ reality, I don't know.

-Joel I
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