What is the “normal” interest rate on a Direct Federal Visa?
The rate can vary monthly and is based on the Prime rate published in The Wall Street Journal. In some instances, a fixed rate of 18% may be assigned. It is important to note that this rate applies to all transactions—purchases, balance transfers and cash advances. Nearly all other credit cards charge a much higher rate for balance transfers and cash advances than they do for purchases. But with a Direct Federal Visa, you are only charged one low rate, regardless of the type of transaction.
