Common use of Variable Rate Information Clause in Contracts

Variable Rate Information. The APR is a variable rate based on the U.S. Prime Rate plus the applicable Margin. The Prime Rate is the highest rate published in the Wall Street Journal as of the first day of the calendar months of March, June, September and December and becomes effective on the first day of your billing cycle that begins in the same month in which the index was published. If the U.S. Prime Rate increases, your rate will increase. If the U.S. Prime Rate is not published or becomes unavailable, we may substitute a rate that we believe, in our sole discretion, to be similar to the U.S. Prime Rate. The Margin is a specific number of percentage points which is added to the U.S. Prime Rate to calculate the Annual Percentage Rate. Your Margin will be determined by our review of your credit report. The Margin is the same for purchases, cash advances, and balance transfers unless any promotional offer states otherwise. The current Margin ranges: Essential Mastercard® Margin Range: 5.74% to 16.74% Cash Rewards Mastercard® Margin Range: 7.74% to 18.74% Flex Rewards World Mastercard® Margin Range: 9.74% to 20.74%