interest rate banks charge their best customers
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One can find out what the prime rate is on any given day by going to the Fed Prime Rate website. The website has up to date information on what the prime rate is.
It is normally higher than the US prime interest rate.
apex. prime rate + credit history
The Federal Funds Rate, which is the interest rate banks charge each other, is determined eight times a year by the Federal Open Market Committee (FOMC). The prime interest rate usually runs about 3% above the Federal Funds Rate.
APR stands for Annual Percentage Rate or percentage of interest a company charges you on a 12 month basis for a balance on their card.