The interest rate you are charged each billing period. For most credit cards, the periodic rate is a monthly rate. You can calculate your card's periodic rate by dividing the APR by 12. A credit card with an 18% APR has a monthly periodic rate of 1.5%. Click here to compare credit card rates online.
The Annual Percentage Rate (APR) expressed as a rate for a certain period of time. For example, monthly periodic rate is 1% for a 12% APR.
Finance charge on consumer credit loan balances, expressed as a percentage.
The monthly rate at which a borrower is charged interest for borrowing money.
The interest rate of a specified period of time, usually referred to as a monthly periodic rate or daily periodic rate.
The periodic rate is an interest rate applied to your balance to calculate the finance charge. For example, the monthly periodic rate for a card with an 18% APR is 1.5% (18% divided by 12 months). If your monthly balance were $1,000, you would multiply it by 1.5% to get your monthly finance charge of $15 ($1,000 x 1.5%=$15). The daily periodic rate for the same 18% APR is 0.04932% (18% divided by 365 days).
The rate you are charged each billing period. For most credit card plans, the periodic rate is a monthly rate, calculated by dividing the APR by 12. For example, a credit card with an 18% APR has a monthly periodic rate of 1.5%.
The interest rate for a specified period of time.
Is the interest rate the customer needs to pay for each billing period. Generally, the periodic rate for credit cards is monthly interest rate that can be obtained by dividing the APR by 12. E.g. the monthly periodic rate for a credit card with 18% APR would be 1.5%.
The rate applied to your outstanding balance to figure the finance charge for each billing period.
The periodic rate is determined by dividing the APR by a unit of time (e.g. monthly periodic rate or daily periodic rate).
The interest rate described in relation to a specific amount of time. The monthly periodic rate, or cost of credit per month, can be calculated by dividing the annual percentage rate(APR) by 12. The daily periodic rate, or cost of credit per day, can be calculated by dividing the APR by 365.
An interest rate expressed in daily or monthly terms, calculated by dividing the annual percentage rate by 365 or by 12.
The interest rate described in relation to a specific amount of time. For example, the monthly periodic rate is the cost of credit per month; the daily periodic rate is the cost of credit per day.
The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate 1.5% per month.
Annual Percentage Rate (APR) divided by the days, weeks or months in a year.
The term of the finance charge as a percentage to be applied to a cardholder balance for a specified period, usually issuer.
a rate of finance charge imposed for a given amount of time
The periodic rate is the rate you are charged each billing period. Usually the periodic rate is the monthly interest rate, calculated by dividing the card's APR (see APR) by 12. If your card has different rates for different types of transactions, then different periodic rates will apply to those balances.
The interest rate for a set period of time. In other words, the daily periodic rate is the cost of credit per day.
