The interest rate factor used to calculate interest charges on a daily basis. The factor is computed by dividing the yearly rate by 365 days. Used by the Discover card, but few other cards, this method of computing interest can result in an effective annual percentage rate which is approximately 2% greater than the yearly stated rate of interest.

The interest rate used to determine daily interest fees. This rate is based on the yearly rate, divided by the number of days in the year.

The Daily Periodic Rate is calculated by dividing the Annual Percentage Rate by 365 and rounding the figure to the fifth decimal place.

A credit card's annual percentage rate divided by 365 days.

A customer's credit card's APR divided by 365 days in the year.

The interest rate factor used to calculate the interest charges on a daily basis. The factor is computed by dividing the yearly rate by 365 days. (Some creditors may use 360 days.)

The daily periodic rate is your annual interest rate expressed on a daily basis. It equals 1/365th of your annual percentage rate (APR).