Adam McCann, Financial Writer
@adam_mcan
A 7% APR is very good for a credit card, as it is well below the average APR among credit card offers on the market right now (22.11%). You’re unlikely to find a credit card with a regular APR this low, though, since even the lowest credit card APRs are typically closer to 9% or 10%.
It’s not really worth financing purchases on a credit card unless you get a card with a 0% introductory APR, which can give you anywhere from around 6 to 21 months to pay off your purchases interest-free. Still, if you’re set on getting a card with a low regular APR, there are a few options.
Credit Cards With Low Regular APRs
| Card Name | Regular APR |
| 8.75% | |
| 9.99% | |
| American Heritage Federal Credit Union Platinum Preferred Mastercard | 9.99% |
| 10.00% (V) |
You might also be able to find other low interest credit cards from local banks or credit unions, so it’s worth shopping around.
You can learn more about the best low interest credit cards and the best 0% APR credit cards here on WalletHub.
People also ask
What is a good APR for a first credit card?
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. However, 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...
read full answer by Lawrence, Wallethub Credit Card AnalystDo 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 CompanyIs a 24.99% APR good?
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
... read full answer by Rick Bormin, Personal Loans ModeratorDid we answer your question?
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