[Sicon]

I can remember when I opened my first bank account as a teenager, the interest on that savings account was somewhere around 10%. Today, banks give you 1% (or significantly less), while they loan that money out at 15-25% via credit cards. What a scam.

[SamAdams76]

Credit card companies are on the hook for deadbeats so I can understand the higher interest rates for those are poor credit risks. This is how they claw back the losses they have to take.

People with excellent credit ratings (low risk) benefit with much lower interest rates. In fact, if you are super diligent about paying your cards down each month, you will pay zero interest.