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Established Contributor
Posts: 542
Registered: ‎03-13-2008

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

In the garden until December 4, 2015
Community Leader
Senior Contributor
Posts: 4,336
Registered: ‎09-06-2008

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: 1,620
Registered: ‎04-06-2011

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

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: 1,960
Registered: ‎08-13-2007

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!




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Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007

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.

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