Higher credit scores have the potential to help you qualify for lower interest rates on credit cards, loans, and other types of financing. As a result, a good credit score could save you money in many situations.

Bad credit scores, on the other hand, indicate higher risk for the credit card company. This status tends to translate into higher APRs for you as a cardholder. It’s not unheard of to encounter credit cards with APRs as high as 25% to 30%.

Exact interest rates on credit cards can differ from one company to another, and among individual cardholders as well. The type of credit card you open can play a role in your APR as well, with rewards credit cards often featuring higher interest rates than other types of credit card products.

Below is a look at the approximate APR range you might encounter on a general purpose credit card, according to your credit score. You should always check with the individual credit card issuer to confirm which rates are offered on any account you’re considering.

Read more: Credit Cards for Bad Credit

Source: The Consumer Credit Card Market Report, September 2021, Bureau of Consumer Financial Protection