Search by Keyword
Regular Rate
Explanation:
The interest rate that will be charged on your balances after the Introductory Period is over (if applicable), assuming that you have not gone into default.
If you see "(V)" next to a card's interest rate, it means the rate is variable. A variable interest rate on a credit card is an interest rate that goes up and down with the Prime Rate. The Prime Rate is the interest rate banks give to the most creditworthy borrowers.
The terms Regular Rate and Regular APR are used interchangeably.
If the 'Regular Rate / APR' is a Range (e.g. 10% - 15%), that's because the final rate will be determined after you submit your application, based on your creditworthiness.
Our Thoughts:
Make sure that you do not miss a payment or go over your credit limit since this might cause the Regular Rate to be replaced by the Default APR, which is usually very high.