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 Credit Cards by Credit Level
| Credit Level | APR |
| Excellent Credit | 17.11% |
| Good Credit | 23.26% |
| Fair Credit | 26.65% |
| Bad Credit (Secured Cards) | 21.76% |
Secured credit cards usually have relatively low APRs because they require a deposit to open, which prevents cardholders from overspending and reduces the risk for the issuer. But since the credit limit on secured credit cards usually matches the security deposit, you’re essentially borrowing against your own money. So, paying any interest on a secured credit card is not the best deal.
Credit Cards with a 12% Regular APR or Less
- 10% APR: Amazon Secured Credit CardLearn MoreLearn More
- 10% APR: Amazon Secured Credit CardLearn MoreLearn Moreon issuer's website
- 10% APR: Amazon Secured Credit CardLearn MoreLearn More
- 8.75% APR: Star One Visa Signature Rewards CardLearn MoreLearn More
- 8.75% APR: Star One Visa Signature Rewards CardLearn MoreLearn Moreon issuer's website
- 8.75% APR: Star One Visa Signature Rewards CardLearn MoreLearn More
- 10% (V) APR: CoreFirst Bank & Trust Visa Platinum CardLearn MoreLearn More
- 10% (V) APR: CoreFirst Bank & Trust Visa Platinum CardLearn MoreLearn Moreon issuer's website
- 10% (V) APR: CoreFirst Bank & Trust Visa Platinum CardLearn MoreLearn More
- 10% APR:
- 8.75% APR:
- 10% (V) APR:
You can compare more low-APR credit card offers on WalletHub.
People also ask
Is a 15% APR good?
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 22.11%.
...
read full answer by Rick Bormin, Personal Loans ModeratorWhat is 21.99% apr on a credit card?
A 21.99% APR on a credit card is lower than the average interest rate for new credit card offers. A 21.99% APR means that the credit card’s balance will increase by approximately 21.99% over the course of a year if the cardholder carries a balance the whole time. For example, if the APR is 21.99% and you carry a $1,000 balance for a year, you would owe around $220 in interest by the end of...
read full answer by Chip Lupo, Credit Card WriterDo you have to pay APR if you pay on time?
You don’t have to pay interest if you pay your credit card bill in full and on time every month, as the APR only applies to outstanding balances carried from one billing period to the next. Most cards have a grace period, so interest won't apply between when your monthly statement is generated and when your bill is due.
To take advantage of a grace period, you need to pay in full every single billing...
read full answer by WalletHub, Financial CompanyDid we answer your question?
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