How Do You Determine The Annual Percentage Rate (APR)?
Variable APRs are determined by adding the number of percentage points that we specify in the Pricing Schedule to the Prime Rate. Variable APRs will increase or decrease when the Prime Rate changes. An APR change will take effect on the first day of the billing period that begins during the same calendar month that the Prime Rate changes. An increase in the APR will increase your interest charges and may increase your Minimum Payment Due. See a longer article about APRs.