libor rate

[whdibeytomas]

my credit card is going to use the libor rate and i am wondering is this better than the apr and daily periodic rate they use now to calculate my payment

[Hammer]

LIBOR is a standard interest rate used in financial institutions.

It stands for London Inter-Bank Offered Rate and is the rate that banks can borrow from other banks.

It is currently around 3.8% so compare that with your current rate to see if it's a good deal.