- The rate you are charged each billing period. For many credit card plans, the periodic rate is a monthly rate, calculated by dividing the APR by twelve. For example, a credit card with a 24 percent APR has a monthly periodic rate of 2 percent.
- Browse Related Terms: "Go-to" rate, Average daily balance method with compounding, Average daily balance method without compounding, balance, Daily balance method with compounding, Daily balance method without compounding, Daily periodic rate (DPR), Default APR, Interest-free period, Introductory APR, Penalty APR, Periodic rate, Purchase APR
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