The content is accurate at the time of publication and is subject to change.

The annual percentage rate (APR) varies from card to card. Usually, cards for people with limited and bad credit carry high APRs, and cards for people with excellent credit have lower APRs. The terms and conditions of any card you apply for must disclose the ongoing APR of the card, although sometimes you will see something like this:

  • APR is 10.99%, 15.99%, or 22.99% depending on creditworthiness

If you see that, it means you have to apply for the card to find out what your APR will be. If your credit is excellent, you will most likely qualify for the lowest APR in the range. As for applicants with poor credit, instead of turning down such an applicant, issuers might offer them a card at the highest rate. That should not be a problem if you pay off your card balance in full each month and on time. Since you do not have a balance, you won't be subject to interest charges.

If the card you're applying for has a promotional APR for 6, 12, 18, or 21 months (or another number of months), the terms and conditions will list the ongoing APR that applies after the introductory rate ends. Always make your payments on time, or the promotional rate will end early.

tags : Credit Score Excellent Credit Interest Rates Limited Credit

Disclaimer: This editorial content is not provided or commissioned by the banks or credit card issuer(s). Opinions expressed here are the author's alone, not those of the banks or credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the banks or credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult with the issuing bank of the card or account for terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.