# How much interest is considered high?

There is no firm definition for what qualifies as a high interest rate. However, some experts define it as any rate above 6 to 8 percent. Many experts define high-interest debt as any debt with a higher rate than what good debt loans offer.

## What is considered a high interest?

A high-interest loan is one with an annual percentage rate above 36%, the highest APR that most consumer advocates consider affordable. High-interest loans are offered by online and storefront lenders that promise fast funding and easy applications, sometimes without checking your credit.

## How high is too high for interest?

Avoid loans with APRs higher than 10% (if possible)\n\n That is, effectively, borrowing money at a lower rate than you're able to make on that money.

## Is 5% considered a high interest rate?

A 5% APR is good for pretty much all types of borrowing, except for mortgages. On personal loans, credit cards, student loans, and auto loans, 5% is much cheaper than the average rate.

## Is 15% a high interest?

A 15% APR is good for credit cards and personal loans, as it's cheaper than average. On the other hand, a 15% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay. A 15% APR is good for a credit card. The average APR on a credit card is 20.16%.

What is a high-interest loan? A high-interest loan is one with an annual percentage rate above 36%, the highest APR that most consumer advocates consider affordable.

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