Common use of Variable Rates Clause in Contracts

Variable Rates. If you have an APR that varies with changes to the Prime Rate, we calculate the APR by adding a margin to the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal. A "business day" is any day that is not a weekend or federal holiday. The APR will change if the Prime Rate changes. If the APR increases, you will pay a higher interest charge and may pay a higher Minimum Payment. The Prime Rate is simply a pricing index and is not the lowest interest rate available. If The Wall Street Journal stops publishing the Prime Rate, we will select a similar reference rate at our discretion.

Variable Rates. If you have an APR that varies with changes to the Prime Rate, we calculate the APR by adding a margin to the highest U.S. Prime Rate published in the "“Money Rates" ” section of The Wall Street Journal. A "“business day" ” is any day that is not a weekend or federal holiday. The APR will change if the Prime Rate changes. If the APR increases, you will pay a higher interest charge and may pay a higher Minimum Payment. The Prime Rate is simply a pricing index and is not the lowest interest rate available. If The Wall Street Journal stops publishing the Prime Rate, we will select a similar reference rate at our discretion.