The average bank card rate is about 20% and for store cards its about 30%. Very difficult to pay down balances with rates like that. But most consumers are oblivious to this fact, and quite frankly, don’t care. We are a very materialistic society where instant gratification is a high priority with consumers.
“President Trump wants to cap credit card interest rates at 10 percent.”
https://www.bankrate.com/credit-cards/news/credit-card-interest-rate-cap/