What Is a Good APR for a Credit Card?


Quick Answer

As of December 2014, a good APR rate for a credit card is typically 11.04 percent or lower, according to Bankrate. The APR is the annual percentage rate of interest charged to a credit card holder on balances remaining after the credit card's due date.

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Full Answer

The average APR rate for cards with cash back allowances is around 16 percent, and balance transfer APR rates range from 15 percent to 0 percent as of 2014, according to Bankrate. While many credit card companies offer consumers lower rates, such as 2.9 percent on balances transferred or 4.9 percent introductory offers, Bankrate warns that consumers should read the terms carefully. Many promotional APR rates expire after a determined amount of time, and consumers may have to pay a higher interest rate on the remaining balance.

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