What is a good APR for a loan?
Look for an APR under 36%, which consumer advocates agree is the cap for loan affordability, and make sure the monthly payments fit comfortably in your budget.
Is a 20% APR high?
A 20% APR is not good for mortgages, student loans, or auto loans, as it's far higher than what most borrowers should expect to pay and what most lenders will even offer. A 20% APR is reasonable for personal loans and credit cards, however, particularly for people with below-average credit.
Is a 12% APR high?
A low credit card APR for someone with excellent credit might be 12%, while a good APR for someone with so-so credit could be in the high teens. If good means best available, it will be around 12% for credit card debt and around 3.5% for a 30-year mortgage.
Is 29% APR too high?
Dear Vera, It is an unfortunate truth that one can very quickly do major damage to one's credit score. However, the reverse is true when trying to build credit back up.
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