LIBOR and the Prime rate

LIBOR (London Interbank Offered Rate)

LIBOR stands for London Interbank Offered Rate. LIBOR is the rate of interest that major international banks in London charge each other for borrowings. It's also the most widely used benchmark or reference rate for short term interest rates on variable (adjustable) rate credit accounts/loans.

Prime rate

Prime is the rate at which banks lend to their best (prime) customers. The most commonly used value is reported by the Wall Street Journal. The prime rate is an important index used by banks to set variable (adjustable) interest rates on numerous loan products, including credit cards, auto loans, mortgages, and student loans.

How do I compare the two?

Prime and LIBOR are different types of indices that lenders use to base their interest rates off of. To compare specific loans with different indices you can look in the Wall Street Journal or other newspaper, with a financial section, get the current rate and add the additional amount assigned to you based on your credit.