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Credit card interest rate APR ( averages )
Instructions on this website are purely for your own use and are intended to help you understand your preferred option and limit your choice. We' ve looked through the credit card list available in the UK to get an idea of what interest you might find on different kinds of card, such as Credit Builders, Low Raters, Balanced Transfers or Awards.
Not only does the credit card interest mean that it depends on the applicant's creditworthiness, but also on the card used. In general, credit builders have the highest APR. Candidates with a lower credit rating may get a (much) higher rating. Whereas, for example, the annual interest for the Aqua Start card is 49,9 per cent (variable), some candidates may be informed of a return of 59,9 per cent or even 69,9 per cent.
Please note: The account carry-over ratios covered in this paper are default ratios, i.e. the ratio that occurs at the end of a promotion period of 0% (either because the promotion period has ended or the promotion concepts have been violated). Which is a good interest on a credit card (APR)?
Someone is unlikely to get a better interest rating than the annual mean interest for a certain card category, but 50% of candidates may get a higher one. Therefore, if your interest rates are near the annual mean interest rates, you will have just about the lowest rates available. Looking at another way, you can determine whether you have been given a good interest rating on the basis of your credit histories - whether you have good or bad credit - as you can see below.
Your credit card interest rates (APR) good? The ones with bad credit ratings are paying twice as much to maintain a good equilibrium as those with good credit ratings. Thus, while a person with a weaker credit record could be given a "good" interest rating close to the 36% annual percentage point mean Representative APR, this "good" interest rating is still high.