What is considered a good interest rate on a credit card

Would you know one if you saw it? The average credit card interest rate on new credit card offers is 17.25% as of March 4, 2020, according to the CreditCards.com Weekly Credit Card Rate Report. So anything lower would be considered a good APR for a credit card. If you have good credit, you may qualify for a 0% interest credit card. These cards offer a 0% APR for as long as 18 months. While the average credit score is considered "good," you can get much better deals with a great score. (Getty Images) A healthy credit score can expand your financial choices and help you secure low interest rates on mortgages , auto loans and credit cards .

The right 0% credit card could help you avoid interest entirely on big-ticket purchases or reduce the cost of existing debt. But you generally need at least good credit to qualify for such a card, and 0% APRs only last for a limited time. As a result, the very best APR for a credit card is one you don't need to worry about. Now, there's also a "very good" credit score range. If you fall within this range, you have a score that's higher than average. You have an excellent chance to get approved – and get low interest rates – when you apply for credit. You have what's considered a low risk of delinquency. [ When you’re shopping for a new credit card, one of the most important numbers to consider is the APR. A credit card’s APR, or annual percentage rate, is the interest rate applied to balances you carry beyond the grace period.The lower your card’s APR, the less interest you pay on your credit card balance. APR stands for annual percentage rate; in other words, the interest rate you’ll pay on your credit card. Generally, APR refers to the “purchase APR,” which is the interest you’ll owe on everyday purchases. When you have good credit scores, credit card issuers will trust you more and offer you lower APRs.

12 Mar 2012 Generally speaking, low-interest rate cards hover around 10%, but there are a few products on the market that advertise rates substantially lower.

6 Mar 2020 With new card offers' interest rates at an all-time high, you may still be So anything lower would be considered a good APR for a credit card. 28 Jan 2020 Graph showing average credit card interest rates from 2009 to 2019 features a slightly better (but still not great) APR of 24.9% for purchases. 7 Sep 2019 Learn about what is considered a good APR for a credit card and how to compare credit card interest rates. Find out how you can avoid paying  Most credit cards have a range of offer APRs that will depend on your credit worthiness, so we also look at the low and high ranges of cards. Card Type. Low, High 

A good APR for a credit card is one below the current average interest rate, although the lowest interest rates will only be available to applicants with excellent credit. According to the Federal Reserve, the average interest rate for U.S. credit cards has been approximately 14% to 15% APR since early 2018. Let's take a closer look at credit card APRs and how to score a low one.

26 Nov 2018 However, the average interest rate on credit card accounts that are actually being charged interest is 15.54%. Low interest credit cards have a  6 Sep 2019 The lower the rate, the better the APR. But what is considered good for you will depend on your credit history, credit score, and overall  7 Jan 2020 Average Credit Card Interest Rate by Category. Category, Average Interest Rate, Recent Low, Recent High. All Existing Accounts, 15.10%, 11.82  6 Mar 2020 With new card offers' interest rates at an all-time high, you may still be So anything lower would be considered a good APR for a credit card. 28 Jan 2020 Graph showing average credit card interest rates from 2009 to 2019 features a slightly better (but still not great) APR of 24.9% for purchases. 7 Sep 2019 Learn about what is considered a good APR for a credit card and how to compare credit card interest rates. Find out how you can avoid paying 

12 Jul 2017 A credit card's interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate. This is 

Most credit cards have a range of offer APRs that will depend on your credit worthiness, so we also look at the low and high ranges of cards. Card Type. Low, High  4 Nov 2019 Your Card's Interest Rate Depends on Your Credit Score Outside those broad lines, whether a specific APR is a good APR will depend on both the card Milestone® Mastercard® – Less Than Perfect Credit Considered. Most U.S. credit cards are quoted in terms of nominal for the interest rate paid on a stable balance over one year. A high U.S. APR of 29.99% carries an effective annual If it is more than a set point (such as 20% in this example) then loans to that applicant are considered a  We analyzed 234 credit cards to find the cards with the lowest interest rates that Low interest credit cards are a great way to avoid high interest charges if you a main criteria we considered when choosing the best low-interest credit cards.

We analyzed 234 credit cards to find the cards with the lowest interest rates that Low interest credit cards are a great way to avoid high interest charges if you a main criteria we considered when choosing the best low-interest credit cards.

12 Mar 2012 Generally speaking, low-interest rate cards hover around 10%, but there are a few products on the market that advertise rates substantially lower. 25 Jan 2017 Don't gloss over your next credit card statement. Learn how your credit card's interest rate is determined and what to do if yours is too high.

26 Nov 2018 However, the average interest rate on credit card accounts that are actually being charged interest is 15.54%. Low interest credit cards have a  6 Sep 2019 The lower the rate, the better the APR. But what is considered good for you will depend on your credit history, credit score, and overall  7 Jan 2020 Average Credit Card Interest Rate by Category. Category, Average Interest Rate, Recent Low, Recent High. All Existing Accounts, 15.10%, 11.82  6 Mar 2020 With new card offers' interest rates at an all-time high, you may still be So anything lower would be considered a good APR for a credit card. 28 Jan 2020 Graph showing average credit card interest rates from 2009 to 2019 features a slightly better (but still not great) APR of 24.9% for purchases. 7 Sep 2019 Learn about what is considered a good APR for a credit card and how to compare credit card interest rates. Find out how you can avoid paying