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LIBOR stands for London Interbank Offered Rate which is a financial index based on the that banks borrow from unsecured funds from the banks in the London wholesale market.  LIBOR is much like the Prime Rate used in the United states.  Credit card companies may use LIBOR to calculate variable rate annual percentage rates (APRs).

Previous Credit Card Term: Liability on an Account

Next Credit Card Term: Magnetic Stripe

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