What is the typical interest rate for a credit card if you have excellent credit?
William Jenkins
Updated on January 23, 2026
Average Credit Card Interest Rate by Category
| Category | Average Interest Rate | Recent High |
|---|---|---|
| Excellent Credit | 13.07% | 14.56% (Q2 2019) |
| Good Credit | 19.49% | 20.94% (Q3 2019) |
| Fair Credit | 22.46% | 23.63% (Q1 2020) |
| Store Cards | 24.14% | 25.81% (Q2 2019) |
What happens to your interest rate if you have excellent credit?
A higher score increases a lender’s confidence that you will make payments on time and may help you qualify for lower mortgage interest rates and fees. On the other hand, a credit score under 620 could make it harder to get a loan, and your interest rates may be higher.
What is a fixed credit card?
Fixed interest rate: Fixed interest is a type of rate that remains the same for the amount of time you carry a credit card balance or loan. Fixed rates will not increase due to changes to the prime index or inflation. Details about any changes to your interest rate will also appear on your monthly statement.
Are credit cards fixed or variable?
Almost all credit cards come with variable rates tied to the prime rate. When the Federal Reserve raises interest rates, chances are highly likely the prime rate will also rise. This means the interest you pay on your outstanding balance and your minimum payment could increase as soon as your next monthly bill.
What can an 850 credit score get you?
Here’s what you get with an 850 credit score. You will be able to get the lowest interest rates on mortgages, car loans, and personal loans. As a result, this lowers the overall cost of any loans you take out and could really help your cash flow situation. Learn how to prepare your credit for a mortgage.
Is 9.9 a good interest rate on a credit card?
A good APR for a credit card is anything below 14% — if you have good credit. If you have excellent credit, you could qualify for an even better rate, like 10%. If you have bad credit, though, the best credit card APR available to you could be above 20%.
Which of the following is a disadvantage of credit?
A disadvantage to credit cards is that there is no way to keep track of individual expenditures. Advantages of using credit include the ability to make purchases when cash inflow is low and the convenience of not carrying cash or checks.
Is it good to get fixed rate credit card?
A fixed-rate credit card offers consistency, but consider the other costs like security deposits before you apply for one. (Getty Images) Some of the links on this site contain offers from our partners. If you carry a balance and can get a low interest rate, you might consider getting a fixed-rate card.
What’s the interest rate on a fixed rate credit card?
The interest on a fixed-rate credit card issued by a credit union tends to be lower than that of a variable-rate card. Some credit unions offer fixed-APR credit cards with rates as low as 6.99%, a far cry from the national average credit card interest rate of more than 17%. However, you still need to have a good credit score to qualify …
How long does a fixed APR credit card last?
Most credit cards that offer a fixed APR do so for a minimum of one year, and sometimes longer. If the card issuer decides the interest rate is too low based on prevailing market rates, they must give cardholders a 45-day notice of any impending rate increase.
Which is the best credit card with no annual fee?
UNIFY is a nationwide credit union with more than 50 branch locations that are open to almost anyone who wants to join. And, once you’re a member, you can choose from three credit cards with fixed rates as low as 9.49%, and with no annual fee. There may also be special introductory rates on low fixed-rate balance transfers, also with no fee.
