Is 12 percent APR good?
William Jenkins
Updated on January 30, 2026
A low credit card APR for someone with excellent credit might be 12%, while a good APR for someone with so-so credit could be in the high teens. If “good” means best available, it will be around 12% for credit card debt and around 3.5% for a 30-year mortgage.
How do I calculate my interest rate after 12 months?
To calculate the monthly interest, simply divide the annual interest rate by 12 months. The resulting monthly interest rate is 0.417%. The total number of periods is calculated by multiplying the number of years by 12 months since the interest is compounding at a monthly rate.
How do you calculate annual interest rate on debt?
Divide your interest rate by the number of payments you’ll make in the year (interest rates are expressed annually). So, for example, if you’re making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.
How much interest do I pay if I make minimum payment on my credit card?
This calculator will show just how much total interest you will pay if you only make the minimum payment required on your credit card balance.
How to calculate interest on a credit card?
Fortunately, this Credit Card Interest Calculator makes the math easy. Simply input the variables, click the “Calculate Credit Card Interest” button, and you’ll learn not only the total amount of interest you’ll pay, but also:
What happens when you pay with a Visa card?
Whether you’re paying by card, mobile device or digital wallet, when you pay with Visa, you can pay with confidence. You have the peace of mind that your payment is secure and you have protection if something goes wrong. Why pay with Visa?
Why is my minimum payment on my credit card increasing?
There are a few reasons your minimum payment could increase from one month to the next: You were late on a previous payment. Your balance has increased. You’re over your credit limit. Your interest rate has increased. In certain instances, your credit card issuer may require you to pay your balance in full.
