Average Credit Card Interest Rate by Category
|Category||Average Interest Rate||Recent High|
|Excellent Credit||14.41%||14.19% (2018)|
|Good Credit||20.31%||19.88% (2018)|
|Fair Credit||22.57%||22.59% (2013)|
|Store Cards||25.74%||25.48% (2018)|
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What is a good interest rate on a credit card?
However, the average interest rate on credit card accounts that are actually being charged interest is 15.54%. Low interest credit cards have a lower average of 13.99%, while cash-back credit cards average out at a much higher 17.09%. The average interest rate for credit cards from credit unions is only 9.37%.
What is a good APR for a credit card 2018?
The average variable credit card APR is 16.81% as of April 5, 2018, which means that a good APR credit card should have a rate at least below that.
What is a good credit card APR 2019?
Best low interest credit cards of 2019:
Citi Simplicity® Card: Best for no late fees. BankAmericard® credit card: Best for long balance transfer offer. Blue Cash Preferred® Card from American Express: Best for rewards. Wells Fargo Platinum Card: Best for 0% intro APR.
What is 24% APR on a credit card?
What exactly is a credit card APR and how is it calculated?” A. APR is short for Annual Percentage Rate, which is the interest you’re charged over a 12-month period. For instance, a card with 24% APR costs 2% per month on balances that you carry from month to month.