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The APR is a measure of the cost of credit, expressed as a yearly rate. It also needs to be disclosed before becoming obligated on the account and on account statements. The card issuer also must disclose the "periodic rate" the rate applied to your outstanding balance to figure the charge for each billing period. Some cards allow the issuer to change the APR when interest rates or other indicators called indexes change. Business - List of business/finance/loan/mortgage resources Computers - List of computer hardware/software/peripheral resources Internet - List of webhosting/webdesign/internet marketing resources Software - List of software resources Web Design - List of web design/development resources Web Hosting - List of web hosting resources Web Promotion - List of search engine optimization/internet marketing resources Web Resources - List of other web resources Recreation - List of travel/hotel/cruise resources Casino - List of online gambling/poker/blackjack/roulette resources Health - List of online pharmacy/hospital/health resources Shopping - List of online shopping/gift resources Miscellaneous - List of all other resources not stated above
Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on the account. If you're considering a variable rate pre-approved card the issuer needs to provide various information that discloses: that the rate may change; and how the rate is determined - which index is used and what additional amount, the "margin," is added to determine the new rate. At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often the rate may change. Free Period. |
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