{"id":86588,"date":"2024-05-01T13:05:52","date_gmt":"2024-05-01T17:05:52","guid":{"rendered":""},"modified":"2024-06-13T13:14:39","modified_gmt":"2024-06-13T17:14:39","slug":"what-is-a-credit-card-purchase-rate-and-how-does-it-work","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/what-is-a-credit-card-purchase-rate-and-how-does-it-work\/","title":{"rendered":"What is a credit card purchase rate, and how does it work?"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">What is a credit card purchase rate, and how does it work?<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Royal Bank of Canada<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Suggestion is to show a young person using a credit card to make a purchase at a store\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg 8192w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?resize=1536,1025 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/shutterstock_2421595651.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=What is a credit card purchase rate, and how does it work? &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/what-is-a-credit-card-purchase-rate-and-how-does-it-work\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/what-is-a-credit-card-purchase-rate-and-how-does-it-work\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published May 1, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading\">What is a credit card purchase rate, and how does it work?<\/h2>\n\n\n\n<p>To understand the ins and outs of a credit card\u2019s purchase rate, it\u2019s important to first know a few basics about interest. Interest, in short, is the fee you\u2019re charged for borrowing money. When you use a credit card, that\u2019s essentially what you\u2019re doing.<\/p>\n\n\n\n<p>Following a purchase on your credit card, you are entitled to an interest-free grace period. This is the number of days between the date your monthly statement is issued and the date your payment is due. With an RBC credit card, you have a minimum 21-day interest-free grace period for new purchases. You can avoid interest on those new purchases by paying your balance \u2013 i.e., the amount you \u201cborrowed\u201d \u2013 in full on or before the payment due date, which you can find on your credit card statement, in Online Banking or the \u201cDetails\u201d tab within the RBC Mobile app.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is a purchase rate?<\/h2>\n\n\n\n<p>The purchase rate is the rate of interest charged on purchases you make with your card if you don\u2019t pay off the full amount of those purchases by the due date.&nbsp;<\/p>\n\n\n\n<p>For example, let\u2019s say you spend $2,000 on groceries, gas, clothing, and food delivery in a given month. If you only make a payment of $200 by your payment date, you will have an outstanding balance of $1,800. You will be charged interest on this $1,800 until you pay it off in full.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How monthly interest is calculated based on your purchase rate<\/h2>\n\n\n\n<p>While purchase rates will vary depending on the credit card you hold, a standard purchase rate is anywhere from 19.99% &#8211; 21.99%&#8211; for the sake of simplicity, a rate of 20.99% will be used below in the example.<\/p>\n\n\n\n<p>Interest is calculated daily; however, it is only added to your account on a monthly basis when your statement is generated.<\/p>\n\n\n\n<p>Here\u2019s how to get an estimate of your monthly interest charges. Please note that this is a guide only and real examples may vary based on the dates of your purchases:&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group pad-b is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Because interest is calculated daily, the first step is to find the <strong>daily interest rate<\/strong>. This is calculated by taking the 20.99% purchase rate and dividing it by the number of days in the year.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Example: Divide your 20.99% purchase rate by 365 for an average daily interest rate of 0.057%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Then, the daily interest charge is calculated. This is done by multiplying your average daily balance ($1,800) by the daily interest rate.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Your <strong>daily interest charge <\/strong>is $1,800 x 0.055% = $1.04&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The average daily interest is multiplied by the number of days in the statement period to determine the monthly interest.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Example: Your daily interest of $1.04 is multiplied by 30 days for a <strong>total monthly interest charge of $31.20.<\/strong><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-rbc-bright-blue-tint-4-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading has-text-align-center\">Looking for a credit card?<\/h2>\n\n\n\n<p class=\"has-text-align-center\">Use our Credit Card Selector Tool to find the best credit card for you.<\/p>\n\n\n\n<div class=\"wp-block-buttons mar-b-hlf is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button is-style-primary primary btn before\"><a class=\"wp-block-button__link has-text-align-center wp-element-button\" href=\"https:\/\/www.rbcroyalbank.com\/credit-cards\/tools\/choose-a-credit-card.html\" data-dig-id=\"LP-86588-91845cfc\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Help Me Choose-https:\/\/www.rbcroyalbank.com\/credit-cards\/tools\/choose-a-credit-card.html \">Help Me Choose<\/a><\/div>\n<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.rbcroyalbank.com\/credit-cards\/tools\/compare-credit-cards.html\" data-dig-id=\"LP-86588-edc4fa85\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Compare Credit Cards\" class=\"rbc-link-format goto-link\" data-icon-class=\"goto-link\">Compare Credit Cards<\/a><\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Where is the purchase rate on the credit card statement?<\/h2>\n\n\n\n<p>Your purchase rate is easy to find. Most credit card statements have a Payments &amp; Interest Rates section along the top or side of the statement. There, you\u2019ll see details such as your minimum payment, payment due date, credit limit, and available credit, along with your annual interest rates. Your purchase rate, cash advance rate, and any other special or introductory rates on your account will be listed there.<\/p>\n\n\n\n<div class=\"wp-block-group mar-b-hlf has-light-grey-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\">What\u2019s a minimum payment?<\/h2>\n\n\n\n<p>The minimum payment is the minimum amount you must pay each month on your credit card balance. Your minimum payment will be either a flat dollar amount, usually $10, plus any interest and fees, or the higher of this dollar amount or a percentage of your outstanding balance. Your credit card agreement will tell you which method your credit card issuer uses to calculate your minimum payment. &nbsp;<\/p>\n\n\n\n<p>It is important to make at least your minimum payment every month to avoid paying extra fees, negatively affecting your credit score and\/or losing any promotional interest rates you may have received.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Special circumstances, exceptions and other points to consider<\/h2>\n\n\n\n<p>Your credit card\u2019s purchase rate is fairly straightforward, but there are a few extra things worth understanding:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Grace period:<\/strong> Your purchase rate doesn\u2019t kick in the moment you make a purchase. Most credit cards must offer an interest-free grace period of at least 21 days. This is the window of time during which you won\u2019t be charged interest on your credit card balance. This can be extended to 25 days following a missed payment.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Trailing interest (Final interest).<\/strong> If you carry a credit card balance from one month to the next, that interest will also carry across billing cycles. If you pay your balance off in full after carrying a balance, be sure to check your next statement, as you may have a trailing interest charge to cover for the period where a portion of your balance from last month remained unpaid.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Balance transfers<\/strong>: A balance transfer moves a balance from one credit card to another, typically with a lower promotional rate. These promotional rates last for a set period of time (often 6 \u2013 18 months), after which a regular purchase rate takes effect.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Quebec<\/strong>: The province of Quebec has recently introduced new minimum payment rules to help consumers pay down their credit cards faster. Since August 1, 2023, the minimum credit card payment for Quebec residents is 4%. The rate will increase by 0.5% until it reaches 5% in 2025.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Business credit cards<\/strong>: If you own a business and are considering a business credit card, keep in mind that the purchase rate may be calculated differently. It\u2019s best to speak with a business banking advisor for advice.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Tips to reduce the amount of interest you pay<\/h2>\n\n\n\n<p>The simplest way to avoid paying high interest on your credit card is to pay off the balance in full before the due date each month. But this isn&#8217;t always possible. If you can\u2019t pay off your balance in full, these tips can help you reduce the amount of interest you pay:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Make smaller payments as soon as possible rather than waiting until the end of the month. Remember, interest is calculated daily, and a lower daily balance will minimize the amount of interest charged overall.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>If you have multiple credit cards, pay them off according to their interest rates, starting with the highest-interest-rate card.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>If you consistently carry a balance, consider applying for a lower-interest-rate card.&nbsp;<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>While you don\u2019t need to pull out your calculator every month to determine your credit card\u2019s purchase rate (your credit card issuer will do that for you), it\u2019s worth understanding how it works so you can use your credit card effectively. Knowing the basics can help you reduce the amount of interest you pay and use your card as the convenient and flexible payment tool it\u2019s meant to be.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-78ff475d-3a42-481e-ae20-c9bd793a46c9\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=What is a credit card purchase rate, and how does it work? &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/what-is-a-credit-card-purchase-rate-and-how-does-it-work\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/what-is-a-credit-card-purchase-rate-and-how-does-it-work\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-f4cefb70-af28-4266-b228-bcdff6ce5077\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Banking\/ Digital banking<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Credit and Debt<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/managing-money\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Managing Money<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/11\/iStock-1057767656.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" 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enjoying a coffee at a coffee shop while paying using her credit card\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg 7008w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_2515434207_Adv-of-having-a-credit-card.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/\">\n\t\t\t\t\t\tUnderstanding Credit Cards\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-cards\/the-advantages-of-having-a-credit-card\/\" class=\"card-title h4 mar-t-0\">The Advantages of Having a Credit Card\u00a0<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-78ff475d-3a42-481e-ae20-c9bd793a46c9 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-78ff475d-3a42-481e-ae20-c9bd793a46c9 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-f4cefb70-af28-4266-b228-bcdff6ce5077 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-f4cefb70-af28-4266-b228-bcdff6ce5077 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>The purchase rate is the rate of interest charged on purchases you make with your card if you don\u2019t pay off the full amount of those purchases by the due date. Learn how it works and how to reduce the amount of interest you pay. <\/p>\n","protected":false},"author":80,"featured_media":86600,"parent":85747,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[62,510,520],"rbc_content_type":[31],"rbc_audience":[59,39,49],"rbc_lob_group":[508],"rbc_difficulty_level":[33],"rbc_mmm_category":[319,304,569],"class_list":["post-86588","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-banking-digital-banking","tag-credit-and-debt","tag-managing-money","rbc_content_type-article","rbc_audience-newcomer","rbc_audience-parents","rbc_audience-students","rbc_lob_group-credit-card","rbc_difficulty_level-beginner","rbc_mmm_category-credit-and-borrowing","rbc_mmm_category-money-academy","rbc_mmm_category-understanding-credit-cards"],"acf":{"contently_publication_id":"","custom_author":"Royal Bank of 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