Is 11% apr good?

Question

what is apr?

and is 11% good for a credit card?

help, thanks

Answer 1

APR is Annual Percentage Rate

If your APR is a Fixed APR meaning it will NEVER go up then yes, 11% is good.  If it's 11% for like 3 mos check and see what it goes up to after that time.  A lot of credit cards will offer 0% or 2.99%  for a short time.  You just have to read the fine print, and also see if there is an annual fee.  Often times, cards with a fee are aimed towards people with not so good of credit that need to pay for credit cards.

Answer 2

not really. i have 6% for my major credit cards. but it depends on your age and credit too.

Answer 3

What are you trying to do are you trying to build your credit up try http://creditloader.com and what you do is, borrow funds just to hold them on deposit, make some interest payments, then give back the deposit to pay off the loan.

at 4.9%

Answer 4

No 11% is not good but it is not horrible either. The lower the percentage the less money you will give them for them letting you use their money. But most credit card companies dont go very much lower than that. The best you could possibly get which is not an introductory rate would be about 8-9%.

Answer 5

APR stands for Annual Percentage Rate....yes 11% would be good for a credit card...most of them are between 21-24%.  Sometimes you are able to find some that are 0% apr, but it only last between 1-2 years and you will have to pay an annual fee.

Answer 6

"good", not really. But it is decent. I wish my APRs were that low. The interest rate doesnt really matter if you pay your balance in full when your bill is due. And you should try not to charge anything that you cant pay off in three months.