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Terms that begin with V
  • Variable Rate
  • Void

Variable Rate

A rate of interest that is subject to adjustment based on changes in other interest rates, such as the prime rate or the Treasury Bill rate. The variable rate is usually indicated as the Prime rate plus an added percentage (for example, PR + 3.9). Your annual percentage rate (APR) may also be subject to change based on the timeliness of your payments.

Previous Credit Card Term: User Authentication

Next Credit Card Term: Void

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