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What percentage of interest rate is good?

A good personal loan interest rate depends on your credit score: 740 and above: Below 8% (look for loans for excellent credit) 670 to 739: Around 14% (look for loans for good credit) 580 to 669: Around 18% (look for loans for fair credit)

Is 5% interest a high interest rate?

On personal loans, credit cards, student loans, and auto loans, 5% is much cheaper than the average rate. You probably won't be able to get a rate this low unless you have excellent credit, though - and it's unlikely to even be offered in the case of credit cards. A 5% APR is very good for a credit card.

Is 15% interest a lot?

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%.

Is 27% a high interest rate?

First, will you be able to pay off the balance in full every month? An interest rate of 27 percent is extremely high. To combat this, Green said, if you decide to keep the card open, you will absolutely want to pay off your balances in full every month.

Is a 17% interest rate high?

A 17% interest rate is high for people with credit scores in the 700s. But remember that a credit score isn't the only determinant of your rate. Other factors include: Debt-to-income ratio.

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.

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