Crediit cards, apr's and prime rates...help!?

I just applied for a credit card with Citi - approved, this is what my final offer was:

0.00% for 12 months from the account open date. Thereafter, Prime rate + 4.99% , currently 12.49%

So...my question is this: What is going to be my APR after the first year? someone explain to me how this works cause...I don%26#039;t get it. I know you have your prime rate plus the 4.99 - but what is the 12.49? EXPLAIN!!! thanks :D i really appreciate it

Crediit cards, apr%26#039;s and prime rates...help!?loan rates

http://www.bankrate.com/brm/news/DrDon/2...

Crediit cards, apr%26#039;s and prime rates...help!? loan

There is no way to tell you what your APR will be in a year. It will depend on what the prime rate is in a year. Your rate will be whatever the prime rate is at that time plus 4.99%.

For example, right now the prime rate is 7.5% if the prime rate is still 7.5% in a year your APR would be 12.49% (7.5% + 4.99%). If the prime rate was say 8% your APR would be 12.99% (8% + 4.99%).|||lorri sum it up nice and deserves a pat and so i will give her one!!!|||You regularly hear that interest is going up ... interest is going down ... thus we have %26quot;prime rate%26quot;.

To whatever that is add 4.99% and you will have your interest at any given time.

To calculate how much interest your balance creates, use the following formula:

balance

x apr

= x$

divide that by 360 or 365 (either is acceptable by the Federal Reserve Board)

that gives you the daily rate of interest - also known as a per diem

multiply the daily rate of interest by the number of days in your billing cycle - this is how the interest charge for the month is calculated.

hope this helps.