Quick Answer: What Is The Typical Interest Rate On A Credit Card?


What is a good credit card interest rate 2019?

Summary of Best Low Interest and 0% APR Credit Cards of September 2019

Credit CardBest ForRegular APR
Capital One® Quicksilver® Cash Rewards Credit Card NerdWallet rating Apply Now on Capital One’s website0% intro period and flat-rate cash back16.24% – 26.24% Variable APR

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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.

How do I find out what my interest rate is on my credit card?

Here’s how to calculate your interest charge (numbers are approximate). Divide your APR by the number of days in the year. Multiply the daily periodic rate by your average daily balance. Multiply this number by the number of days (30) in your billing cycle.

What is considered a high interest rate?

However, an individual lender, such as Wells Fargo, offers rates at anywhere from 3.99 percent to 24.24 percent. High interest rates are generally anything above the national average, but this figure can vary widely.