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Credit Card Applications » Questions » User Questions » Other » What is the deal with the variable APR? My credit score is 820 so do I get the lowest interest rate?

What is the deal with the variable APR? My credit score is 820 so do I get the lowest interest rate?

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Leo Zhu

The variable APR is the interest rate that will vary with the market based on the Prime Rate. The issuers usually add 10% to 20% to the Prime Rate to determine the purchase and balance transfer APR. However, as a rule variable APRs do not exceed 30%. With this high credit score you may qualify for a credit card with low interest rate. We cannot tell you how low your interest rate will be because each card has its terms and some cards come with a range of APRs. And your interest rate will be determined by the issuer based on your creditworthiness.

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