What is APR? Simply put, a credit card’s interest rate is the price you’ll pay for borrowing money. For credit cards, interest is typically expressed as a yearly rate known as the annual percentage rate. A good APR for a credit card is one below the current average interest rate, although the lowest interest rates will only be available to applicants with excellent credit. According to the Federal Reserve, the average interest rate for U.S. credit cards has been approximately 14% to 15% APR since early 2018. Let's take a closer look at credit card APRs and how to score a low one. A variable-rate APR is also established during credit card issuance. It fluctuates with changes to the financial index. So, if the U.S. Prime Rate increases by, say, one percent, you can expect that the variable-rate APR on your credit card will increase accordingly. Creditors need not provide advance notice of variable interest rate changes.