Credit Card Center Advertiser Disclosure

Established Contributor
Posts: 613
Registered: ‎03-13-2008
0 Kudos

What is a good interest rate

[ Edited ]

Today a woman told me that her 7.75% interest rate was "uncompetitive" and "unsophisicated" for her "beyond excellent" credit (her words)... and yes, she talked exactly like Mrs. Thurston Howell III. No joke, she really sounded like Mrs Howell... but she got me thinking... for today's market what is considered a decent interest rate? The average interest rate for today is suppose to be 15%. With the economy going to hell in a handbasket they say prime is going to increase before the year is out which will drive interest up even more. So what is considered a good interest rate for today?


Personally I think 7.75 is pretty sweet, but that's just me. Smiley Tongue

Senior Contributor
Posts: 4,329
Registered: ‎09-06-2008
0 Kudos

Re: What is a good interest rate

she's probably the same kind of person who thinks that any credit limit below $XXX is totally beneath her status Smiley Mad


i think that's a really good rate.  our lowest rate is 7.9%, followed by 12.65% and 15.9%.  we have a couple others whose rates resemble store card APRs Smiley MadSmiley MadSmiley Mad

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Valued Contributor
Posts: 1,659
Registered: ‎04-06-2011
0 Kudos

Re: What is a good interest rate

7.75 sounds great. I'd take it in a heartbeat.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 730 08/15 (PSECU), TU08 710 08/15
Goal Score: 725+ across the board

Take the FICO Fitness Challenge

Established Member
Posts: 37
Registered: ‎07-25-2011
0 Kudos

Re: What is a good interest rate

Well if she's that worried about her interest rate she isn't all that well off. Especially in this economy, she should worry less about her rate and more about how much she's spending at Saks.
Valued Contributor
Posts: 2,156
Registered: ‎08-13-2007
0 Kudos

Re: What is a good interest rate

I have the 7.75% on my USAA Master Card / Visa.


It is by far the best rate that we have!




** Every Card has a Job, and Every Card does its Job **
Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007
0 Kudos

Re: What is a good interest rate

My interest rates are all over the place: 4.69, 6.99, 7.24, 7.99, 8.24, 8.49, 9.49, 9.99, 10.24, 10.99, 14.24, 15.24, 18.24, 21.90, 24.24, 25.24, 25.99.


You just have to assume that the higher ones are from companies that don't want you to ever carry a balance.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.