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general knowledge Online Quiz - 5388
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A credit card with a margin of 3 points has…
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A
An APR of 3 percentage points above a specific interest rate index.
💡 Explanation:
A credit card margin is the spread added to an index rate (like Prime Rate) to determine the APR. A 3-point margin means the APR is 3 percentage points above the reference index rate, not about differences between purchase/cash advance rates or minimum payment percentages.