credit cards

What is a punitive rate?

 

What is a punitive rate?

The Bankrate.com financial term of the day is: "punitive rate."

Credit cards have rules, and when you break them, you pay more. Cards slap you with a punitive rate -- a punishingly high interest rate -- if you violate your card agreement by being late with your payment or making purchases beyond your credit limit.

Run afoul with your credit card and you'll regret it. You'll be socked with a higher punitive rate.

To shop for the perfect credit card, visit the credit cards section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 16.24% --0.00 16.24%
Cash Back Cards 16.48% --0.00 16.48%
Low Interest Cards 11.27% --0.00 11.27%
 
Search
advertisement
CREDIT CARDS WEEKLY NEWSLETTER
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

advertisement

Credit Card Blog

Jeanine Skowronski

Coming soon: Mall rewards

Would you like to earn rewards for shopping at any store in your local mall? In some places, you can.  ... Read more

Partner Center
advertisement

Connect with us