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Variable Rates Your APR rate varies based on large financial indexes such the prime rate, the one-, three- or six-month Treasury bill rate, or the federal funds or Federal Reserve discount rate. This means that your rate can travel up or down each month, depending on what is happening to be influencing the domestic or even the world economy. Once the interest rate corresponding to the index has been identified, the credit-card issuer then adds a number of percentage points -- called the margin -- to this index rate to come up with the rate the consumer will be charged. In some cases, the issuer might choose to use another formula to determine the rate to be charged. These issuers multiply the index or index plus the margin by another number, the "multiple," to calculate the rate. |