Credit Cards » “Rate” Defined in Regards to Credit Cards

“Rate” Defined in Regards to Credit Cards

The rate on a credit card is the amount of interest you will be charged on your unpaid balance during a set period of time. The credit card rate is a set percentage of your balance, and varies widely from one credit card issuer to another. It will also vary depending on your credit-worthiness: the less of a risk you appear to be, the lower the rate of interest the credit card company will charge you for the loan.

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Posted 3rd March 2009 at 2:12 pm

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