How does the prime rate affect your interest rate? Most credit cards offer a variable interest rate (often called a “variable ...

Typically, however, credit cardholders' interest rates are above the prime rate ... just make your unpaid balance balloon even more over time and make it more difficult to pay off.

Your credit card APR can go up if the prime ... rate — or APR. This is one of the terms most likely to change for your credit card — and it can affect your account big time when it does.

And how does the prime interest rate affect you? Most credit cards offer what is called a variable APR — that is, an annual rate of interest that varies over time as the prime rate changes.