The days of easy credit are gone and even folks with credit scores above 750 are feeling an increase in interest rate. This also brings up another question. What are you considering as low interest?
Interest rates today are normally prime interest which is currently 3.25 plus some amount charged by the institution. Better rates today will be prime plus about 6 or 7%. But these rates are usually reserved for those with above average credit worthiness. Cards are available with credit scores below 700 but unfortunately with such tight credit these days, the interest rate will probably be a little higher.
- Are Discover Card credit cards any good?
- Is a credit score of 725 considered good?
- Which bank offers the best debit card?
- Why do you rate American Express credit requirements as "good credit" to secure a card? I thought to qualify for an American Express card you have to have excellent credit.
- Supposing you have a perfect credit score of 800 or better; which credit card offers the highest credit limits?