Common use of Variable Rates Clause in Contracts

Variable Rates. Your APRs are subject to change each Billing Cycle and are determined each Billing Cycle by adding the Margins listed in the Interest Rate and Fee Schedule to the Index. The Index is the Prime Rate (U.S.) published in the Money Rates section of The Wall Street Journal. Your APRs may increase if the Index increases. If any APR increases, the amount of interest charged and your minimum payment may increase. Any change in the APRs will take effect on the first day of the Billing Cycle in which a change to the Index occurs. When a range of rates has been published on the day we calculate the APR, the highest of the rates will be used. If this Index is no longer available we will select a new one.

Variable Rates. Your APRs are subject to change each Billing Cycle and are determined each Billing Cycle by adding the Margins listed in the Interest Rate and Fee Schedule to the Index. The Index is the Prime Rate (U.S.) published in the Money Rates section of The Wall Street Journal. Your APRs may increase if the Index increases. If any APR increases, the amount of interest charged and your minimum payment may increase. Any change in the APRs will take effect on the first day of the Billing Cycle in which a change to the Index occurs. When a range of rates has been published on the day we calculate the APR, the highest of the rates will be used. If this Index is no longer available we will select a new one. The maximum rate for any variable APR is the applicable Margin plus the Index.