Discover the best student loan interest rate by credit score and learn about the credit needed for education debt.
Credit card interest rates are high, but you might be able to score a lower rate just by asking, or following one of these other tips.
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Investopedia tracks over 300 credit card interest rates every month. For November 2024, the average credit card interest rate is 24.62%.
Key takeaways ; The current average personal loan interest rate is 12.38%. ; Excellent credit results in the lowest rates — and poor credit may have rates over 30%. ; Other aspects of your finances, like DTI and income, affect the rate you’re offered.
The average personal loan rate is currently 20.64%. But rates can vary and are based on several key factors, including your credit score.
Highlights: ; Credit scores are three-digit numbers designed to represent the likelihood you will pay your bills on time. ; There's no “magic credit score number” that guarantees a loan approval or better interest rates and terms. ; Credit score ranges vary based on the scoring model used to evaluate them.
Table of Contents ; Average Credit Card Interest Rate by Card Type · Methodology · Average Credit Card Interest Rate by Credit Score · How Your Credit Card Interest Rate Can Impact You · How To Lower Your Credit Card Interest Rate
Small business line of credit rates vary depending on the lender and other factors, like your credit score. Learn more here.
Written by Katie Kelton , Edited by Brooklyn Lowery ; Published on September 12, 2024 | 6 min read