Oct 27, 2023
Fact checked
Written by John S Kiernan
WalletHub Managing Editor
Fact Checked by Alina Comoreanu
WalletHub Senior Researcher
A good APR for a credit card is around 17% or below. A credit card APR in this range is on par with the interest rates charged by credit cards for people with excellent credit, which tend to have the lowest regular APRs. The average credit card APR overall is around 23% right now, according to WalletHub's latest Credit Card Landscape Report.
Opinions and ratings are our own. This content is not provided, commissioned or endorsed by any issuer. WalletHub independently collected information for some of the cards on this page.
Table of Contents
Good Credit Card APRs by Credit ScoreBest Credit Cards with Good APRs in 2023How to Get a Good Credit Card APR
Good Credit Card APRs by Credit Score
| Credit Rating | Score Range | Good Credit Card APRs |
| Good | 700–749 | 19% |
| Fair/Limited | 640–699 | 21% |
| Bad | 300-639 | 18% |
A great APR for a credit card is 0%. The right 0% credit card could help you avoid interest entirely on big-ticket purchases or reduce the cost of existing debt. But you generally need at least good credit to qualify for such a card, and 0% APRs only last for a limited time. On that note, the very best APR for a credit card is one you don't need to worry about. If you pay your bill in full every month, your credit card's interest rate is irrelevant because it will never apply.
Below, you can check out some of the best credit cards with good APRs available right now and learn more about how to qualify for them. You can also check your latest credit score for free on WalletHub, if you don’t know where you stand.
Compare Low Interest Credit Cards
Best Credit Cards with Good APRs in 2023
Some credit cards have low regular APRs, compared to either all other offers or cards with the same minimum credit requirement. Other cards offer low intro APRs for purchases, balance transfers or both. So finding a credit card with a good APR starts with figuring out which rates will affect you. And to do that, you must know what you’re going to use the card for, how long it will take to pay off your balance, and which credit cards you have reasonable odds of getting.
Below, you can compare the top options for 0% purchases, balance transfers and low regular APRs. They’re definitely a great place to start.
| Citi Simplicity® Card | U.S. Bank Visa® Platinum Card | Wells Fargo Reflect® Card | BankAmericard® credit card |
|---|---|---|---|
4.7WalletHub Rating WalletHub Rating 4.7 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Lower Cost of Existing Debt." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 3.7 User Reviews 3.7 Market Comparison 5.0 fees: 5.0 cost: 5.0 APR: 5.0 | 4.9WalletHub Rating WalletHub Rating 4.9 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Lower Cost of Existing Debt." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.8 User Reviews 3.7 Market Comparison 5.0 fees: 5.0 cost: 5.0 APR: 5.0 | 4.2WalletHub Rating WalletHub Rating 4.2 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Finance New Purchases." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.8 User Reviews 3.1 Market Comparison 4.2 fees: 4.0 rewards: 0.0 cost: 4.0 APR: 5.0 | 4.4WalletHub Rating WalletHub Rating 4.4 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Lower Cost of Existing Debt." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.0 User Reviews 3.7 Market Comparison 4.6 fees: 5.0 cost: 4.6 APR: 4.5 |
(2538) | (472) | (109) | (626) |
annual fee$0 | annual fee$0 | annual fee$0 | annual fee$0 |
Purchase Intro APR0% for 12 months | Purchase Intro APR0% for 21 billing cycles | Purchase Intro APR0% for 21 months from account opening | Purchase Intro APR0% for 18 billing cycles |
transfer intro apr0% for 21 months | transfer intro apr0% for 21 billing cycles | transfer intro apr0% for 21 months from account opening on qualifying balance transfers | transfer intro apr0% for 18 billing cycles for any balance transfers made in the first 60 days |
Regular APR19.24% - 29.99% (V) | Regular APR18.74% - 29.74% (V) | Regular APR18.24% - 29.99% Variable | Regular APR16.24% - 26.24% Variable |
rewards rate N/A | rewards rate N/A | rewards rate N/A | rewards rate N/A |
bonus offerN/A | bonus offerN/A | bonus offerN/A | bonus offerN/A |
Finding a credit card with a good APR and actually getting approved for one are very different things, unfortunately. But the good news is there are steps that you can take to improve your chances. You can learn about them below.
How to Get a Good Credit Card APR
Improve Your Credit Score
People with better credit scores get better credit cards. And the higher your score is, the more options you will have. Improving your score will help you qualify for a higher-tier card, for one thing. And since many credit cards advertise their APRs as a range (e.g. 13% - 23%), it may enable you to get a better rate on a card you’d get approved for anyway.Reducing your credit utilization, paying down debt and correcting credit report errors are all good ways to improve your credit score. The more responsible you are, the more quickly your score will rise. But you can determine the best approach for your particular situation by reviewing your free personalized credit analysis from WalletHub.
Shop Around
You’re unlikely to get the best deal on anything you buy if you go for the very first offer that you come across. So comparison-shop your way to the best credit card rates for your needs. You can use WalletHub’s comparison tool to see how different cards stack up against one another.
Make a Payoff Plan
How good a credit card APR will be depends on how long it remains in effect. Low introductory APRs last for only a limited time before a high regular APR takes their place, for example. And an 18% regular rate won’t cost you too much for a month or two, but carrying a balance for a long time will be expensive.
So determine what monthly payments you’ll make in advance and look for a card whose APR package complements your schedule.
Use the Island Approach
Using the same card to make everyday purchases and carry a balance from month to month is a bad idea. It makes your debt more expensive, for one thing, since your normal spending will be added to the amount accruing interest on a daily basis. In contrast, if you use a separate card for everyday purchases and pay your bill in full every month, your standard spending will be interest-free. Separating your everyday spending from longer-term balances also lets you get the best possible terms for both. You can use a rewards credit card for everyday spending, since you’ll be paying in full every month and its APR thus won’t matter. And you can use a 0% APR credit card to save on the balance you’ll carry from month to month. This method of using separate credit cards to meet different needs is called the Island Approach.
At the end of the day, it’s important to remember that the best APR for a credit card is one that never takes effect. Americans owe over a trillion dollars in credit card debt, and we’re spending millions per year on interest. It’s very difficult to get ahead when you’re trying to get out from under a big credit card balance. So make sure to keep your spending in check, pay off your credit card debt as quickly as possible and explore other debt solutions if necessary.
Good APR for a Credit Card FAQ(16 questions)
Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card. In addition, WalletHub independently collected information for some of the cards on this page.
Most Popular
Is a 24.99% APR good?
16
Upvotes
Reply
16
Rick Bormin, Personal Loans Moderator
@rhandoo2020
A 24.99% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay and what most lenders will even offer. A 24.99% APR is reasonable for personal loans and credit cards, however, particularly for people with below-average credit. You still shouldn't settle for a rate this high if you can help it, though.
24.99% Is a Good APR For:
Credit cards
...
1
Is a 15% APR good?
4
Upvotes
Reply
Rick Bormin, Personal Loans Moderator
@rhandoo2020
A 15% APR is good for credit cards and personal loans, as it's cheaper than average. On the other hand, a 15% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay.
15% Is a Good APR For:
Credit cards
A 15% APR is good for a credit card. The average APR on a credit card is 22.75%.
Personal loans
A 15%...
View more answers
What is 20% apr on a credit card?
3
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3
Chip Lupo, Credit Card Writer
@CLoop
An annual percentage rate (APR) of 20% indicates that if you carry a balance on a credit card for a full year, the balance will increase by approximately 20% due to accrued interest. For instance, if you maintain a $1,000 balance throughout the year, the interest accrued would amount to around $200.00.
Fortunately, you won't be charged the 20% APR if you pay off the full balance by the due date every month. If...
1
What is a good interest rate on a credit card?
119
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119
5
Christie Matherne, Credit Card Writer
@christie_matherne
A good interest rate on a credit card is 14% and below. That is roughly the average regular interest rate on credit cards for people with excellent credit. Even a relatively good interest rate on credit cards for people with lower scores is not all that low. For example, credit card users with good or fair credit could pay interest at an annual rate of 20%+ and still have a below-average APR. Better-than-average for a credit card overall isn't much...
9
What is a good APR for a first credit card?
38
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Lawrence, Wallethub Credit Card Analyst
@lawrence50
A good APR for a first credit card is anything below 20%. Most first-timers have no credit history, so they need to prove themselves as responsible borrowers before getting a really low APR. But there are some exceptions. Student cards also give lower rates, but you have to be a student to get one. Another way to get a good APR for a first credit card is to apply for a secured card.
It's worth pointing out...
5
How do I compare credit cards with low or 0% interest?
93
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93
Christie Matherne, Credit Card Writer
@christie_matherne
When comparing credit cards with low or 0% interest rates, it's important to know both your credit score and how much you can afford to pay toward your debt each month. This will make it a lot easier to tell which low interest credit cards might be available to you and then compare them based on how much each is likely to cost you by the time you pay off your balance. It's hard to tell whether...
3
Is a 36% APR good?
5
Upvotes
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5
Rick Bormin, Personal Loans Moderator
@rhandoo2020
A 36% APR is not good for credit cards, mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay and what most lenders will even offer. A 36% APR is high for personal loans, too, but it's still fair for people with bad credit. You shouldn't settle for a rate this high if you can help it, though.
36% Is a Good APR For:
Personal loans for...
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Is a 10% APR good?
4
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4
Rick Bormin, Personal Loans Moderator
@rhandoo2020
A 10% APR is good for credit cards and personal loans, as it's cheaper than average. On the other hand, a 10% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay.
10% Is a Good APR For:
Credit cards
A 10% APR is good for a credit card. The average APR on a credit card is 22.75%.
Personal loans
A 10%...
Is 12% a good credit card APR?
3
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Reply
3
John S Kiernan, Managing Editor
@John
Yes, a 12% APR is a good credit card interest rate because it is cheaper than the average interest rate for new credit card offers. Very few credit cards offer a 12% regular APR, and applicants must usually have good or excellent credit to be eligible. People with credit scores that good typically can qualify for cards with 0% introductory APRs, however, so paying interest at a 12% rate isn't ideal.
Average APR for...
1
Is it good to have a low APR on a credit card?
2
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2
Milvionne Chery Copeland, Writer
@milvionne_copeland
Yes, it is good to have a low APR on a credit card if you plan on carrying a balance as it can save you a lot of money on interest charges. On the other hand, if you plan on paying in full every month, a good rewards card with a high APR would be better than a credit card with a low APR and no rewards. Interest won't apply if you always pay in full.
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WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: U.S. Bank Visa® Platinum Card, BankAmericard® credit card, Citi Simplicity® Card, BankAmericard® credit card for Students, First Command Bank Classic Visa® Card, Amazon Secured Credit Card, Academy Sports + Outdoors Credit Card, Star One Visa Signature Rewards Card, Dollar Bank Low Rate Credit Card, First Option Visa® Platinum Rewards Credit Card, and Simmons Bank Visa®
I'm an enthusiast deeply versed in the intricacies of credit cards, particularly focusing on Annual Percentage Rates (APRs) and credit card landscapes. My knowledge extends to recent developments and fact-checking methodologies. Now, let's dive into the concepts covered in the provided article.
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APR Definition and Significance:
- APR stands for Annual Percentage Rate, representing the annualized interest rate charged by a credit card issuer for borrowing or carrying a balance. It's a crucial factor when assessing the cost of using credit.
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Credit Card Landscape and Average APR:
- The article mentions that a good APR for a credit card is around 17% or below, with the average credit card APR being approximately 23%. This information provides a baseline for users to evaluate and compare credit card offerings.
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Credit Score and Corresponding APR Ranges:
- The article categorizes credit scores into ranges and associates each range with recommended APRs. For example:
- Good Credit (700–749): Recommended APR around 19%
- Fair/Limited Credit (640–699): Recommended APR around 21%
- Bad Credit (300–639): Recommended APR around 18%
- This illustrates how creditworthiness influences the interest rates offered.
- The article categorizes credit scores into ranges and associates each range with recommended APRs. For example:
-
Best Credit Cards with Good APRs in 2023:
- The article lists specific credit cards with good APRs, such as the Citi Simplicity® Card, U.S. Bank Visa® Platinum Card, Wells Fargo Reflect® Card, and BankAmericard® credit card. Each card is rated based on WalletHub’s proprietary credit card rating system, considering factors like fees, costs, and APR.
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Introductory APRs and Duration:
- It introduces the concept of introductory APRs, specifying the duration for which these lower rates apply. For example, 0% introductory APR for 12 months or 21 billing cycles on purchases and balance transfers.
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How to Get a Good Credit Card APR:
- The article provides actionable tips for improving the likelihood of securing a credit card with a favorable APR, including:
- Improving credit scores through responsible financial behavior.
- Comparison shopping to find the best credit card rates.
- Creating a payoff plan based on individual financial circ*mstances.
- Using the "Island Approach" by separating everyday spending and balance-carrying on different cards.
- The article provides actionable tips for improving the likelihood of securing a credit card with a favorable APR, including:
-
User FAQs and Expert Responses:
- The article includes user-generated questions about specific APR percentages, and an expert responds by providing context and guidance on whether a given APR is considered good for different types of loans or credit cards.
In summary, the article comprehensively covers various aspects of credit card APRs, offering insights into what constitutes a good APR, factors influencing it, and practical advice for users seeking favorable credit card terms.
