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credit card

Originally posted by: fire400
Originally posted by: spidey07
Originally posted by: ElFenix
LIBOR in many cases
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yep. It's either prime or LIBOR.
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which means?
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LOL, just messin' with you.

It's the rate banks charge their PRIME customers. It fluctuates with the times. You are probably referring to a credit card with a variable rate. That rate is something plus prime, correct?
 
Originally posted by: ElFenix
LIBOR in NO cases
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Fixed

Prime is the rate most US banks charge their largest, most valued commercial accounts, usually on a short term basis.

LIBOR = London Interbank Offered Rate which is a similar concept but used by European banks to borrow US funds.

They are different indexes.
 
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