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• The reference point used to calculate interest-rate adjustments for adjustable-rate APRs on credit cards. The index rate can increase or decrease at any time. Common indexes include the prime rate and the one-, three- , and six-month Treasury bill rates.
  Board of Governors of the Federal Reserve System - Cite This Source - This Definition
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  Cite Definition for index

  American Psychological Association (APA)

  index. (n.d.). Credit Card Consumer's Guide. Retrieved January 29, 2023, from website: http://www.expertglossary.com/definition/index.

  Chicago Manual of Style (CMS)

  index. www.federalreserve.gov. Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. http://www.expertglossary.com/definition/index (accessed: January 29, 2023).

  Modern Language Association (MLA)

  "index." Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. 29 January. 2023 http://www.expertglossary.com/definition/index.

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All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

• The price paid for borrowing money. For credit cards, the interest rate is usually stated as a yearly percentage rate, called annual percentage rate, or APR.
  Board of Governors of the Federal Reserve System - Cite This Source - This Definition
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  Cite Definition for Interest rate

  American Psychological Association (APA)

  Interest rate. (n.d.). Credit Card Consumer's Guide. Retrieved January 29, 2023, from website: http://www.expertglossary.com/definition/interest-rate.

  Chicago Manual of Style (CMS)

  Interest rate. www.federalreserve.gov. Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. http://www.expertglossary.com/definition/interest-rate (accessed: January 29, 2023).

  Modern Language Association (MLA)

  "Interest rate." Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. 29 January. 2023 http://www.expertglossary.com/definition/interest-rate.

• Browse Related Terms: Annual Percentage Rate (APR), Balance Transfer, Balance-transfer fee, Cash-advance fee, Interest rate, Membership fee, Participation fee

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All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

• The number of days you have to pay your bill in full before an interest charge is assessed on purchases. It is the period of time between the date of a purchase and when the payment is due. This period typically does not apply to cash advances.

  Board of Governors of the Federal Reserve System - Cite This Source - This Definition
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  Cite Definition for Interest-free period

  American Psychological Association (APA)

  Interest-free period. (n.d.). Credit Card Consumer's Guide. Retrieved January 29, 2023, from website: http://www.expertglossary.com/definition/interest-free-period.

  Chicago Manual of Style (CMS)

  Interest-free period. www.federalreserve.gov. Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. http://www.expertglossary.com/definition/interest-free-period (accessed: January 29, 2023).

  Modern Language Association (MLA)

  "Interest-free period." Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. 29 January. 2023 http://www.expertglossary.com/definition/interest-free-period.

• 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

All > Business > Finance > Personal Finance > Consumer Credit > Credit Card

• The APR charged during the credit card's introductory period after a credit card account is opened. The card will have a different APR after the introductory period ends.
  Board of Governors of the Federal Reserve System - Cite This Source - This Definition
  ×

  Cite Definition for Introductory APR

  American Psychological Association (APA)

  Introductory APR. (n.d.). Credit Card Consumer's Guide. Retrieved January 29, 2023, from website: http://www.expertglossary.com/definition/introductory-apr.

  Chicago Manual of Style (CMS)

  Introductory APR. www.federalreserve.gov. Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. http://www.expertglossary.com/definition/introductory-apr (accessed: January 29, 2023).

  Modern Language Association (MLA)

  "Introductory APR." Credit Card Consumer's Guide. Board of Governors of the Federal Reserve System. 29 January. 2023 http://www.expertglossary.com/definition/introductory-apr.

• 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