what is a good credit card interest rate

The good credit card interest rate depends on several factors, including the type of card and your credit score. According to the Federal Reserve, the average credit card interest rate in the US on accounts with balances that assessed interest was 22.77% in August 2023. However, a good APR for a credit card is relative and depends on the type of card youre looking at, as well as your own credit. A credit card APR below 10% is definitely good, but you may have to go to a local bank or credit union to find it. As of mid-2023, you could consider a good APR for a credit card to be anything below the average of 24.24% if you have good credit. People with bad credit may only have options for higher APR credit cards around 30% . If you have excellent credit, you could qualify for an even better rate, but the lowest APRs on new credit card offers are around 13.82% . Its important to note that the best possible APR on a credit card is 0%, which you can get for an introductory period on many cards. If you pay your credit card in full every month, your APR doesnt even matter, since you wont get charged interest.