Note the "default risk" part of that. I had a credit card that was at a very reasonable interest rate, then due to a series of unfortunate events, I missed a pa

Note the "default risk" part of that. I had a credit card that was at a very reasonable interest rate, then due to a series of unfortunate events, I missed a payment. The interest rate immediately shot up to >25%, and I was told it wouldn't come down for more than a year.