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Rate floor

The rate floor is the lowest possible interest rate that is associated with a variable interest rate loan.  The interest rate will never drop lower than the specified rate floor, no matter how low the Prime Interest Rate, LIBOR, or other specified interest rate index drops.   Banks and credit card companies use rate floors to protect their margins when interest rates drop below historical averages. 

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* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.