The Chase Freedom Unlimited introductory APR is 0% for 15 months on purchases. Chase Freedom Unlimited’s regular APR is 14.99% - 23.74% (V). It will apply after the promotional 0% rate expires. The better an applicant’s credit standing, the higher their odds are of getting a rate at the low end of the range.
If you have the card, you can find your Chase Freedom Unlimited APR on a monthly statement or your online account page. There will also be a separate APR listed for cash advances. If you withdraw cash using your Chase Freedom Unlimited card, that amount is subject to an APR of 24.99% (V). Chase Freedom Unlimited does not charge a penalty APR for delinquent payments.
You won’t have to worry about the Chase Freedom Unlimited APR if you pay the balance in full every month. Chase Freedom Unlimited gives you a 21-day grace period from the close of each billing period until the payment due date. If you pay off the entire balance during that timeframe, you will avoid having any interest charges.
Mastercard interest rates are 9.99% to 36%, depending on the card and each applicant’s creditworthiness. Nearly all Mastercard interest rates are variable rather than fixed. Variable rates are tied to an index rate, usually the prime rate that banks use for their most creditworthy customers. Setting specific interest rates is a card issuer’s job, though, not Mastercard’s.… read full answer
Generally, the better your credit history, the better the interest rate. For example, the Bank of America® Customized Cash Rewards credit card interest rate ranges from 13.99% to 23.99% Variable, depending on your credit. Credit card type also affects the interest rate. Most secured credit cards offer a single rate, like the Secured Mastercard® from Capital One: 26.99% (V). Rewards cards like the Citi Premier® Card – 15.99% to 23.99% (V) – often have higher maximum interest rates to compensate for the additional benefits. This could also be a sign that more than just people with good credit can get approved.
Credit cards will always have multiple interest rates. There are separate rates for purchases, balance transfers, cash advances and late payments. Cash advance APRs range from 24.99% to 26.99%. Penalty interest rates for late payments can be a maximum of 29.99%. The Citi Simplicity® Card - No Late Fees Ever doesn't have a penalty interest rates, for example.
If a Mastercard with the lowest possible interest rate is your priority, you may need to look beyond the big banks and explore options from credit unions. Credit unions have specific membership requirements, so check to make sure you’re eligible.
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