PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE. The Periodic Rate and corresponding Annual Percentage Rate that is used to compute the Finance Charge is variable. The Annual Percentage Rate is based on an index which is the highest Wall Street Prime Rate as of the last day of the month as published in The Wall Street Journal (Western Edition) from time to time. To determine the Annual Percentage Rate, we add a margin to the index. The amount of the margin depends on the type of account, your credit profile, and other factors we deem appropriate. The margin applicable to your account will be provided to you at the time of opening your card. The Annual Percentage Rate is divided by 365 to obtain the Daily Periodic Rate. The rate can change monthly effective the first day of the billing cycle. Any increase or decrease in the Annual Percentage Rate will affect the number of monthly payments you may have to make. The initial periodic rate and Annual Percentage Rate will be provided to you with your Card.
Appears in 5 contracts
Samples: Visa Platinum Credit Card Agreement, Visa Student Silver Credit Card Agreement, Visa Platinum Credit Card Agreement
