Define: Promotional Rate

How is Promotional Rate defined in a legal contract?

• Promotional Rate means a special interest rate that is offered at the discretion of the offering party for certain transactions. These could include specific purchases, cash advances or balance transfers. This special rate will apply solely to said transactions and for the predetermined timeframe of the offer.
  Seen in 17 SEC filings.
• Promotional Rate means in the context of a variable-rate plan, any annual percentage rate not based on the index and margin that would be used for rate adjustments under the plan. If this rate is less than a reasonably current annual percentage rate that would be applicable under the index and margin used for rate adjustments.
  Seen in 8 SEC filings.
• Promotional Rate means an interest rate lower than the standard interest rate.
  Seen in 6 SEC filings.
• Promotional Rate means any annual percentage rate applicable to balances or transactions on an open-end plan for a certain period of time, that is lower than the annual percentage rate that will be in effect at the end of that period on such balances or transactions.
  Seen in 4 SEC filings.
• Promotional Rate means the percentage set by our bank used in calculating the Fee payable in connection with each submission by a Retailer to the bank of Charge Transaction Data pertaining to a purchase that is subject to an approved credit-based promotion.
  Seen in 2 SEC filings.
• Promotional Rate means the preferential rate that applies to promotional transactions during the promotional period.
  Seen in 2 SEC filings.

Please note, some details were omitted due to non-compliant information according to the guidelines.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of promotional rate’ yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Promotional Rate means a temporary special interest rate for specific transactions, lower than the standard rate.

Relevant Contract Type

• Credit Card Agreement
• Loan Agreement
• Credit Agreement

Relevant Circumstances

• Offering a discounted rate for balance transfers
• Providing a temporary reduction in interest rate for specific purchases
• Applying a promotional interest rate for cash advances

Relevant Sectors

• Financial Services
• Banking
• Retail

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Genie Definition 2

• Promotional Rate means a reduced annual percentage rate for balances in an open-end credit plan for a defined period.

Relevant Contract Type

• Credit Card Agreement
• Open-End Credit Agreement
• Home Equity Line of Credit Agreement

Relevant Circumstances

• Introducing a reduced annual percentage rate for new credit card accounts
• Offering a lower interest rate for a home equity line of credit for a specific period
• Introducing a lower rate for balance transfers during promotional period

Relevant Sectors

• Financial Services
• Banking
• Real Estate

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