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Yes, I would consider 24.99% a high interest rate. The average rate is around 19.9% but it is possible to get a lower rate if you have a good credit rating.

A credit account's APR shows how much you have to pay to borrow money. If you have a credit card with a 24% APR, that's the rate you're charged over 12 months, which comes out to 2% per month. ... It's the APR divided by 365, which would be 0.065% per day for a card with 24% APR.

If you are having trouble finding the end date for your intro APR on your credit card statement, you can check your online account or app for information. If you're still not sure, you can call the number on the back of your credit card and ask a customer service representative to check your account.

The interest rate on your credit card or loan doesn't have a direct impact on your credit scores. ... That 0% APR won't affect your credit either but it could give you more money in your budget to pay down debts, which could help your credit scores.

When a 0% APR period ends, the credit card's regular APR will kick in. That rate will apply to any unpaid balance remaining on the credit card as well as any new purchases made from that point on.

Once this period is over, you'll be charged a new interest rate and will owe interest on any unpaid balance on the card. Card issuers offer these promotional rates to encourage new card signups. They provide a great benefit to start, but it's important to do your homework if you plan on keeping the card long term.

Intro APR on purchases If you pay off your purchases in full before your 0 percent intro APR period expires, you won't pay any interest on those purchases. But if there is a balance remaining on your credit card after the intro period ends, your credit card issuer will begin to charge the standard interest rate.

A good APR for a credit card is 14% and below. ... Some people might consider a good APR for a credit card to be anything below 19% because that's roughly the average APR for new credit card offers. But just because a rate is better than what most credit cards will give you does not make it good.

If you have a credit card with a 24% APR, that's the rate you're charged over 12 months, which comes out to 2% per month. Since months vary in length, credit cards break down APR even further into a daily periodic rate (DPR). It's the APR divided by 365, which would be 0.065% per day for a card with 24% APR.

Yes, I would consider 24.99% a high interest rate. The average rate is around 19.9% but it is possible to get a lower rate if you have a good credit rating.