{"id":72178,"date":"2024-01-30T15:00:06","date_gmt":"2024-01-30T15:00:06","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/01\/30\/what-is-the-prime-interest-rate-for-credit-cards-the-points-guy\/"},"modified":"2024-01-30T15:00:06","modified_gmt":"2024-01-30T15:00:06","slug":"what-is-the-prime-interest-rate-for-credit-cards-the-points-guy","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/01\/30\/what-is-the-prime-interest-rate-for-credit-cards-the-points-guy\/","title":{"rendered":"What is the prime interest rate for credit cards? – The Points Guy"},"content":{"rendered":"


\n<\/p>\n

\n

When you apply for a credit card<\/a>, you’ll be presented with several disclosures covering everything from card benefits and fees to the card’s annual percentage rate<\/a>.<\/p>\n

Many people don’t realize that the APR \u2014 which reflects the total yearly cost of borrowing money \u2014 is pinned to the Federal prime rate and, therefore, the credit card holder’s interest rate.<\/p>\n

We will take an in-depth look at the prime rate for credit cards, how it is set, its effect on your card’s interest rate and how to protect yourself from changes to the prime rate.<\/p>\n

<\/p>\n

What is the prime rate for credit cards?<\/h2>\n

The prime rate is one of the factors banks and other lenders use to establish APRs on credit cards and most types of loans. The prime rate affects what your interest rate will be and, therefore, how much you will have to pay if you’re subject to interest charges.<\/p>\n

\n