Find Variable Interest Rates
Overview
Highnote supports variable interest rates for credit card products. We provide updated prime rates as necessary, and it is your responsibility to reflect accurate interest rates to your account holders.
Highnote calculates APR by using the sum of the prime rate and the margin you provide. The prime rate used when calculating your APR reflects the Wall Street Journal's Prime Rate, published on December 25th, March 25th, June 25th, and September 25th. Updated rates take effect at the beginning of the next billing period: January, April, July, and October, respectively.
Prerequisites
- A Highnote account
- A credit card product with the variable interest feature enabled
- Access to the Highnote API or API Explorer
Prime rate update schedule
Refer to the following table for a breakdown of rate update schedules and effective dates. The example column shows two example statements, using an increase of 8.5% to 9.75%:
| Rate update schedule | Effective date | Example |
|---|---|---|
| December 25th | January 1st | December 20th to January 19th statement: 8.5%, January 20th to February 19th statement: 9.75% |
| March 25th | April 1st | March 20th to April 19th statement: 8.5%, April 20th to May 19th statement: 9.75% |
| June 25th | July 1st | June 20th to July 19th statement: 8.5%, July 20th to August 19th statement: 9.75% |
| September 25th | October 1st | September 20th to October 19th statement: 8.5%, October 20th to November 19th statement: 9.75% |
Find credit plan interest rate
When creating a credit plan in the Live environment, the Highnote team configures your interest rate. Use the following query to find a credit plan's interest rate and policy:
LookupCreditPlanInterestRateIndex
Query
query LookupCreditPlanInterestRateIndex($id: ID!) {
node(id: $id) {
... on CreditPlan {
id
interestPolicy {
rateType
index {
type
value
effectiveDate
}
}
}
}
}
Variables
{
"id": "crppn_1"
}
⚠️ Please login to execute queries. Visit the dashboard to authenticate.
Result
{
"data": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID",
"interestPolicy": {
"rateType": "VARIABLE",
"interestRateIndex": {
"type": "PRIME",
"value": "8.5",
"effectiveDate": "2023-10-01"
}
}
}
}
View interest rate on application
An interest rate is assigned during the account holder card product application process. You can use the following query to view the interest rate and policy to display them to your account holder during the application process:
GetAccountHolderCardProductApplication
Query
query GetAccountHolderCardProductApplication($id: ID!) {
node(id: $id) {
... on AccountHolderCardProductApplication {
id
accountHolderSnapshot {
... on USPersonAccountHolderSnapshot {
currentCreditUnderwritingVerification {
decision {
... on UnderwriterPositiveDecision {
__typename
creditLine {
value
currencyCode
}
creditPlanTerms {
creditPlan {
__typename
id
planType
balanceType
interestPolicy {
rateType
index {
type
value
effectiveDate
}
}
}
interest {
apr
}
}
}
}
}
}
... on USBusinessAccountHolderSnapshot {
businessProfile {
currentCreditUnderwritingVerification {
decision {
... on UnderwriterPositiveDecision {
__typename
creditLine {
value
currencyCode
}
creditPlanTerms {
creditPlan {
__typename
id
planType
balanceType
interestPolicy {
rateType
index {
type
value
effectiveDate
}
}
}
interest {
apr
}
}
}
}
}
}
}
}
}
}
}
Variables
{
"id": "ap_1"
}
⚠️ Please login to execute queries. Visit the dashboard to authenticate.
Result
{
"data": {
"__typename": "AccountHolderCardProductApplication",
"id": "CARD_PRODUCT_APPLICATION_ID",
"accountHolderSnapshot": {
"currentCreditUnderwritingVerification": {
"decision": {
"__typename": "UnderwriterPositiveDecision",
"creditLine": {
"value": "10000",
"currencyCode": "USD"
},
"creditPlanTerms": [
{
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID",
"planType": "STANDARD",
"balanceType": "PURCHASE",
"interestPolicy": {
"rateType": "VARIABLE",
"index": {
"type": "PRIME",
"value": "8.5",
"effectiveDate": "2023-10-01"
}
}
},
"interest": {
"apr": "13.6"
}
},
{
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID",
"planType": "STANDARD",
"balanceType": "CASH_ADVANCE",
"interestPolicy": {
"rateType": "FIXED",
"index": null
}
},
"interest": {
"apr": "22.6"
}
}
]
}
}
}
}
}
View interest on financial account
An account holder's financial account displays their credit plan and interest rate. Use the following query to view the interest rate on a financial account:
LookupFinancialAccountCreditConfiguration
Query
query LookupFinancialAccountCreditConfiguration($id: ID!) {
node(id: $id) {
... on FinancialAccount {
id
creditConfiguration {
interestRates {
__typename
balanceType
interest {
apr
}
creditPlan {
__typename
id
planType
interestPolicy {
rateType
index {
type
value
effectiveDate
}
}
}
}
}
}
}
}
Variables
{
"id": "ac_1"
}
⚠️ Please login to execute queries. Visit the dashboard to authenticate.
Result
{
"data": {
"__typename": "FinancialAccount",
"id": "FINANCIAL_ACCOUNT_ID",
"creditConfiguration": {
"interestRates": [
{
"__typename": "CreditPlanFinancialAccountConfiguration",
"balanceType": "PURCHASE",
"interest": {
"apr": "13.6"
},
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID",
"planType": "STANDARD",
"interestPolicy": {
"rateType": "VARIABLE",
"index": {
"type": "PRIME",
"value": "8.5",
"effectiveDate": "2023-10-01"
}
}
}
},
{
"__typename": "CreditPlanFinancialAccountConfiguration",
"balanceType": "CASH_ADVANCE",
"interest": {
"apr": "10.5"
},
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID",
"planType": "STANDARD",
"interestPolicy": {
"rateType": "FIXED",
"index": null
}
}
}
]
}
}
}
View credit card transfer event
Use the following query to lookup a credit card transfer event and set the input id to the desired cardTransactionEventId value.
getCreditCardTransferEvent
Query
query LookupCreditCardTransferEvent($id: ID!) {
node(id: $id) {
__typename
... on CreditCardTransferEvent {
id
creditCardInterestTransferEvent {
__typename
... on CreditCardInterestReversal {
transferAmount {
value
currencyCode
}
financialAccount {
__typename
id
}
cardProduct {
__typename
id
}
creditPlan {
__typename
id
}
statement {
__typename
id
}
sourceInterestAccrual {
__typename
id
creditCardInterestTransferEvent {
__typename
... on CreditCardInterestAccrual {
transferAmount {
value
currencyCode
}
financialAccount {
__typename
id
}
cardProduct {
__typename
id
}
creditPlan {
__typename
id
}
statement {
__typename
id
}
apr
createdAt
}
}
}
createdAt
}
... on CreditCardInterestAccrual {
transferAmount {
value
currencyCode
}
financialAccount {
__typename
id
}
cardProduct {
__typename
id
}
creditPlan {
__typename
id
}
statement {
__typename
id
}
apr
createdAt
}
}
}
}
}
Variables
{
"id": "sibal_1"
}
⚠️ Please login to execute queries. Visit the dashboard to authenticate.
Result
{
"data": {
"node": {
"__typename": "CreditCardTransferEvent",
"id": "CREDIT_CARD_TRANSFER_REVERSAL_EVENT_ID",
"creditCardInterestTransferEvent": {
"__typename": "CreditCardInterestReversal",
"transferAmount": {
"value": 254,
"currencyCode": "USD"
},
"financialAccount": {
"__typename": "FinancialAccount",
"id": "FINANCIAL_ACCOUNT_ID"
},
"cardProduct": {
"__typename": "CardProduct",
"id": "CARD_PRODUCT_ID"
},
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID"
},
"statement": {
"__typename": "ConsumerRevolvingCardFinancialAccountStatement",
"id": "FINANCIAL_ACCOUNT_STATEMENT_ID"
},
"sourceInterestAccrual": {
"__typename": "CreditCardTransferEvent",
"id": "CREDIT_CARD_TRANSFER_ACCRUAL_EVENT_ID",
"creditCardInterestTransferEvent": {
"__typename": "CreditCardInterestAccrual",
"transferAmount": {
"value": 254,
"currencyCode": "USD"
},
"financialAccount": {
"__typename": "FinancialAccount",
"id": "FINANCIAL_ACCOUNT_ID"
},
"cardProduct": {
"__typename": "CardProduct",
"id": "CARD_PRODUCT_ID"
},
"creditPlan": {
"__typename": "CreditPlan",
"id": "CREDIT_PLAN_ID"
},
"statement": {
"__typename": "ConsumerRevolvingCardFinancialAccountStatement",
"id": "FINANCIAL_ACCOUNT_STATEMENT_ID"
},
"apr": 29.56,
"createdAt": "2025-10-07T16:12:37.115Z"
}
},
"createdAt": "2025-10-07T16:13:22.856Z"
}
}
},
"extensions": {
"requestId": "25b73965-a977-9579-84ce-39f9a6d2ce38",
"rateLimit": {
"cost": 14,
"limit": 2500,
"remaining": 2486,
"asOf": "2025-10-07T16:18:22.233Z",
"complexity": {
"limit": 2500,
"remaining": 2486,
"cost": 14
},
"count": {
"limit": 100,
"remaining": 99,
"cost": 1
}
}
}
}
Waive interest for credit card transfer event
Use the following mutation to waive the interest for a credit card transfer event.
waiveInterestAmountForClosedStatement
Query
mutation waiveInterestAmountForClosedStatement(
$input: WaiveInterestAmountForClosedStatementInput!
) {
waiveInterestAmountForClosedStatement(input: $input) {
__typename
... on CreditCardTransferEvent {
__typename
id
creditCardInterestTransferEvent {
__typename
... on CreditCardInterestReversal {
financialAccount {
id
}
cardProduct {
id
}
creditPlan {
id
}
statement {
id
}
transferAmount {
value
currencyCode
}
sourceInterestAccrual {
__typename
id
creditCardInterestTransferEvent {
__typename
... on CreditCardInterestAccrual {
financialAccount {
id
}
apr
cardProduct {
id
}
creditPlan {
id
}
statement {
id
}
transferAmount {
value
currencyCode
}
createdAt
}
}
}
createdAt
}
}
}
... on UserError {
__typename
errors {
code
description
errorPath
}
}
... on AccessDeniedError {
__typename
message
}
}
}
Variables
{ "input": { "cardTransactionEventId": "sibal_1" } }
⚠️ Please login to execute queries. Visit the dashboard to authenticate.
Result
{
"data": {
"__typename": "CreditCardTransferEvent",
"id": "CREDIT_CARD_TRANSFER_EVENT_ID",
"creditCardTransferEvent": {
"__typename": "CreditCardTransferEvent",
"id": "CREDIT_CARD_TRANSFER_REVERSAL_EVENT_ID",
"balanceType": "PURCHASE",
"accountingDirection": "DEBIT",
"statement": {
"id": "STATEMENT_ID"
},
"creditPlan": {
"id": "CREDIT_PLAN_ID"
},
"creditCardInterestTransferEvent": {
"__typename": "CreditCardInterestReversal",
"financialAccount": {
"id": "FINANCIAL_ACCOUNT_ID"
},
"cardProduct": {
"id": "CARD_PRODUCT_ID"
},
"creditPlan": {
"id": "CREDIT_PLAN_ID"
},
"statement": {
"id": "FINANCIAL_ACCOUNT_STATEMENT_ID"
},
"transferAmount": {
"value": "10000",
"currencyCode": "USD"
},
"createdAt": "2025-01-01T00:00:00.000Z",
"sourceInterestAccrual": {
"__typename": "CreditCardTransferEvent",
"id": "CREDIT_CARD_TRANSFER_ACCRUAL_EVENT_ID",
"creditCardInterestTransferEvent": {
"__typename": "CreditCardInterestAccrual",
"financialAccount": {
"id": "FINANCIAL_ACCOUNT_ID"
},
"apr": "25.5",
"cardProduct": {
"id": "CARD_PRODUCT_ID"
},
"creditPlan": {
"id": "CREDIT_PLAN_ID"
},
"statement": {
"id": "FINANCIAL_ACCOUNT_STATEMENT_ID"
},
"transferAmount": {
"value": "10000",
"currencyCode": "USD"
},
"createdAt": "2025-01-01T00:00:00.000Z"
}
}
}
}
}
}