Is 15% a bad interest rate?

APR of 15% is suitable for credit cards and personal loans. This is because it's cheaper than average. On the other hand, a 15% APR is far higher than what most borrowers are owed to pay, making it not good for mortgages, student loans or car loans. APR of 15% is suitable for credit cards. The average credit card APR is 23.1%.…