Lenders don’t pick your APR at random — they slot you into a credit tier and quote a rate within the card’s published range based on that tier. The CFPB’s Terms of Credit Card Plans survey lets us see the median purchase APR for each tier.
Median purchase APR by credit tier
| Your credit | Score band | Large issuers | Small banks & credit unions |
|---|---|---|---|
| Great | 720 or higher | 22.99% | 15.24% |
| Good | 620-719 | 28.20% | 18.15% |
| Poor | 619 or less | 28.49% | 20.62% |
Two things jump out. First, the jump from “great” to “good” credit is steep at large issuers (about 5 points). Second, at every tier, small banks and credit unions are several points cheaper — federal credit unions are capped at 18% by law.
What this means for you
- 720+ (“great”): You’ll usually get the bottom of a card’s APR range and qualify for the best rewards cards. Still worth comparing a credit union — 15% beats 23%.
- 620-719 (“good”): The widest gap between issuer types. Shopping a credit union here can save the most.
- 619 or less (“poor”): Expect high rates and consider a secured card or a credit-union card to build credit cheaply.
Dig into each tier on the dedicated pages: great credit (720+), good credit (620-719), and poor credit (619 or less). Then check what a rate costs over time in the payoff calculator.
Sources
CFPB Terms of Credit Card Plans survey. Medians are surveyed figures, not personalized offers — your actual APR depends on the issuer’s underwriting.