prime rate

concept
1 mentions 1 recordings first heard Oct 2019 last heard Oct 2019 ±0 this month

Benchmark interest rate that moves with Federal Reserve policy

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AnnaMaria AndriotisWSJ Your Money Briefing · Interest Rates Are Falling. Why Aren't Credit Card Rates? · 3:29 · Oct 2019
…So the credit card APR, or the annual percentage rate that people pay, it is based on the prime rate, which tends to move in tandem with the Fed's rate increases and rate cuts, plus the margin that lenders set.…
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