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  • 01-04-2020
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How does the prime rate affect an APR

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DoYou DoYou
  • 01-04-2020

Answer:

The Federal Reserve increases the federal funds rate, which causes the prime rate to increase, which means your credit card APR increases. As the prime rate rises, it becomes even more important to look for a low APR credit card, such as Barclaycard Ring.

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