Spanish translation: tasa anual de interés por falta de pago
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Default here is NOT solely related to incumplimiento. It relates to changes in your credit rating/credit history, which can happen, for example, if you later apply for a new credit card or if you take a loan from a bank.
This website explains there are many reasons that a bank will take away your promotional rate, not always because of incumplimiento.
"Nearly half of banks surveyed by Consumer Action now penalize cardholders for changes in their credit history ... with universal default rates of up to 35%"
"...card issuers raised rates if any of the following occurred...:
-Credit score gets worse: 90.48%
-Paying mortgage, car loan or other creditor late: 85.71%
-Going over credit limit: 57.14%
-Bouncing a payment check: 52.38%
-Too much debt: 42.86%
-Too much available credit: 33.33%
-Getting a new credit card: 33.33%
-Inquiring about a car loan or mortgage: 23.81%"