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• 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.
  Board of Governors of the Federal Reserve System - Cite This Source - This Definition
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  Cite Definition for Periodic rate

  American Psychological Association (APA)

  Periodic rate. (n.d.). Credit Card Consumer's Guide. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/periodic-rate.

  Chicago Manual of Style (CMS)

  Periodic rate. www.federalreserve.gov. Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. http://www.expertglossary.com/definition/periodic-rate (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Periodic rate." Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. 1 April. 2023 http://www.expertglossary.com/definition/periodic-rate.

• 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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