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Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

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Sidenote: I worked with a guy who had no debt. 22k in the bank, but no debt. He was having trouble getting a secured loan because no credit. The bankers have many ways to screw you when you go outside their parameters.

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I got a credit card about 1-2 years ago solely for the purpose of building credit. Only 4 points from 750 now

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Crazy how that works when priorities are in order.