A good credit card APR is a rate that’s at or below the national average, which currently sits above 20 percent. While there are credit cards with APRs below 10 percent, they are most often found at credit unions or small local banks. If you don’t have good credit, you’re like...
If you have good credit, a good APR is easy to come by — but what qualifies as a "good" annual percentage rate also varies by type of card.
What is a good credit card APR? APRs vary depending on your credit score and the type of card you’re considering. In general, agood credit card APRis any APR that falls at or below the national average. Thebest low-interest credit cardson the market offer rates as low as 17.24 percen...
Lower what you pay in credit card interest You might consider abalance transferif you have an existing balance on a credit card with a high APR. This allows you to transfer your current balance to a new credit card with either a low or 0% APR for a limited time — just be sure to ...
What Is an APR? 5 min read What is a Good Credit Card APR? 5 min read Video APR vs. Interest Rate 4 min read Share article Was this article helpful? Yes No There is no hard inquiry to your credit report to check if you’re pre-approved. If you’re pre-approved, and you...
Types of credit card APR Most credit cards have different types of APR that vary depending on the issuer and how you use the card. Introductory APRor promotional APR is a lower rate offered for a limited time. It might apply to specific transactions, such as new purchases or balance transfe...
Understanding a credit card’s APRs, including how they are calculated, can help you compare offers and find the right card for you A good credit score may help you get a lower APR on a new credit card You may have seen the term APR, or annual percentage rate, used in reference to ...
What is a credit card? A credit card provides an extension of money — known as a line of credit or credit limit — that you can use to make purchases. In essence, you borrow money and have to repay it back by the due date, or risk interest and fees. In addition to using a cred...
What Is a Good APR? As of October 2024, the median credit card interest rate for all credit cards in the Investopedia database was 22.76%.However, rates varied widely, even for any given issuer. For example, in September 2024, the APRs on Bank of America credit cards ranged from 19.24%...
By law, credit card issuers must offer a grace period of at least 21 days beforeinterest on purchases can begin to accrue.1That’s why paying off balances before the grace period expires is a good practice when possible. It is also important to understand whether your issuer accrues interest...