The most common interest rates are 11% for consumer credit cards and 15% for secured credit cards.  These rates are reasonable to the card issuer, because it’s their money.  Your total balance is usually a fraction of the interest you pay on that balance.  So the cost to you to borrow that money is higher.
assitant
The “prime rate” is what banks charge each other for making loans.  This is usually about 1% and that is usually what people are expecting as an interest rate.  Sometimes credit card companies will add an additional 2-3% for a “bonus”, and it’s usually best to avoid those.
assistant
I am looking to get my first credit card.  Can you explain credit cards to me and what some of the important features are?
user
Sure, I can help you understand.  There are several things that can be confusing.
assistant
What is the interest rate on a credit card for?
user
Interest on a credit card is the cost that you pay to use the card.  The rate is expressed as a percentage of the total balance you owe.  So if your card charges you 2% interest on balances, it means that for every dollar you owe, the credit card company will charge you 20 cents of interest.
assistant
Ok then, what is a reasonable interest rate for a credit card?
user