What Is a Good APR for a Credit Card? Comparing Credit Card APRs
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is a Credit Card APR?
How to Determine Your APR
Types of Credit Card APR
1. Introductory APR or Promotional APR
2. Purchase APR
3. Cash Advance APR
4. Penalty APR
5. Balance Transfer APR
Tips for Qualifying for a Good APR Credit Card
Make all of your credit card payments on time each month Keep your balances low (i.e., avoid getting close to your credit limit) to improve your credit utilization ratio Pay off as many of your outstanding balances as possible
What Is Considered a Good APR for a Credit Card?
Average Credit Card APR
Excellent Credit
Good Credit
Fair Credit
Poor Credit
Can You Lower the APR?
Compare Credit Card Offers With Lantern
Frequently Asked Questions
About the Author
Jason Steele has been writing about credit cards and award travel since 2008. One of the nation's leading experts in this field, he has contributed to dozens of personal finance and travel outlets and has been widely quoted in the mainstream media.
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