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Houston Mortgage > Glossary >
Credit Card > V 1-10
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V (variable)
If the letter V appears after the annual percentage rate (APR) the interest rate is variable and subject to change.
Variable interest rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage, and which fluctuates in tandem with a rate index.
Verification of employment
Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
VISA
VISA cards, a product of VISA USA, are distributed by financial institutions around the world. A VISA card holder borrows money against a credit line and repays those funds with interest if the balance is carried over from month to month in a revolving line of credit.
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