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Default Interest Rate
Explanation:
The penalty interest rate assessed on a credit card, which is in default. Default APRs are usually above 20 percent.
The definition of whether you are in default or not varies between credit card companies. For some credit card companies, having missed a payment and/or having gone over limit can be considered as being in default.
Some cards have a 'Default APR' and a 'Max Default APR' for seriously defaulted accounts.