The typical credit card rate formula is the Prime Rate plus a profit margin set by the card issuer. On average, this margin often runs between 12 and 13 percent. The Prime Rate is currently 8 percent. It’s typically 3 percentage points higher than the federal funds rate, which is set ...
Great Rate Card 12.50%-22.50% APRVariable Most Rewards 14.00%-24.00% APRVariable *Rate is good for 12 months after first balance transfer occurs. Only balance transfers on Great Rate VISA credit card from within 60 days of card activation are eligible for 1.99% APR with $0 transfer fee. Off...
Don't miss:See a negative balance on your credit card? Here's what you can do about it The balance reported to the credit bureaus appears on yourcredit reportand can affect yourcredit utilization rate, which is the percentage of the total credit you're using. The higher your balance, the...
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How it's used:The prime rate is an important index used by banks to set rates on many consumer loan products, such as credit cards or auto loans. If you see that the prime rate has gone up, your variable credit card rate will soon follow....
Achieva Checking Plus AccountDividend RateAPY .995%1.00% You may earn interest on the Achieva Checking Plus Account when you have 18 posted transactions per checking statement cycle, using your Achieva debit or credit card or a combination of both. The APY shown above for the Achieva Checking ...
Understanding interest rate vs. APRWhile you may have heard interest rate and APR used interchangeably (for example that’s correct when referring to credit card rates) there’s an important difference in the context of mortgages. Your APR will be higher than your interest rate because it ...
Generally though, cash back accounts will pay out very little interest, if any at all, so you should make sure, if you want one, that you’ll be able to advantage fully from any cash back scheme in place more than you would from a simple high interest rate on a more conventional acco...
Checking & debit card account with premium interest rates when qualifications are met. $100 minimum opening deposit ~ interest compounds monthly. Qualifying Balances Annual Percentage Yield $0.01 – $100,0001 2.02% APY2 (Interest Rate: 2.00%) $100,000.01 and greater1 2.02% - 0.89% APY2 (Inte...
Credit Card Money market ProductDividend rateAnnual percentage yieldMinimum balance Money market - under $2,500 0.50% 0.50% APY $0 Money market - $2,500 - $9,999 1.09% 1.10% APY $2,500 Money market - $10,000 - $24,999 1.29% 1.30% APY $10,000 Money market - $25,000 - $49,...