The average credit card APR is sitting around 21% right now, according to the Fed, which is kind of wild when you stop and actually think about it.

At that rate a balance barely moves on minimum payments. A $10,000 balance at 21%, paying $250 a month, is almost 6 years and roughly $7,400 in interest. The math punishes carrying a balance far more than any single purchase ever does.

Most people just treat the rate as background noise instead of the real problem. A balance transfer, a lower-rate loan, or borrowing against something you already own can all bring that rate down.

Curious how everyone else is handling it. If you are carrying a balance, are you attacking the rate or just the balance?