Definitions for "Tiered interest rate"
A pre-set scale of interest which is based on the premise that higher sums of money earn higher rates of interest.
A method of computing interest in which the rate is based upon 1) the amount of the outstanding balance, 2) the amount of cumulative charges made, or 3) the cardholder's credit and risk rating.
A rate that has two or more interest rate possibilities based on variable dollar amounts saved or borrowed.