Credit interest rates are low for those who have access and the ability to carefully utilize credit. Balance transfer and introductory offers are as low as they've ever been and you can get away with paying 4% interest annually, occasionally even 3%. That's competitive with the best mortgage rates!

But "Standard APRs" are crazy high at around 14-18%. I have never understood why credit rates are so high compared to literally any other type of borrowing. I also don't understand how standard rates are sky high while promotional rates are near the rock bottom.

It's baffling. But it's helped me manage big sums of debts during a couple of professional transitions I've gone through over the years. Without those 3-5% balance transfers I would still be deeply in debt today.