[vidanay]

> historically high APRs

Interest rates are NOT historically high. In fact they are basically right at "average". The rates for the last five years were historically LOW.

[jeffbee]

I think credit card APRs specifically are off the charts. Other forms of credit (mortgages etc) not so much. Credit card issuers are commanding a 15% margin over prime rate, while charge-off i.e. the risk to the credit issuer is around 3%, near all-time lows. In other words credit issuers are raking in record unearned profits.

This FRED series only goes back 30 years but if you look at the Fed Statistical Abstract consumer credit tables, APRs in 1985 were < 19% and in 1980 were < 18% so 21% and higher are very exceptional.

https://fred.stlouisfed.org/series/TERMCBCCALLNS

[washedup]

Credit Card APRs, specifically, is what I was mentioning. They are historically high.

[vidanay]

Holy shit...I hadn't realized credit card rates have become that high!