Were standard credit card interest rates ever much below 20%? I think 20-25% has been the normal range for 20+ years (since I've had credit cards), though laws

Were standard credit card interest rates ever much below 20%? I think 20-25% has been the normal range for 20+ years (since I've had credit cards), though laws like the one passed under Obama do reign in the banks a little in terms of how brutally they can destroy a delinquent customers livelihood (like limiting default rates and banning other creditors from charging default rates when you default with one creditor). I always check out the balance transfer offers I receive and use that as a gauge for how cheaply creditors are willing to extend credit. Even with the prime rate jumping up in recent years, you can still get the same 12 months at 0% interest with a 4-5% transfer fee. There was a time during the low-rate era where the average was closer to 18 months and 3% fees, whereas the last few years have leaned towards 9 months and 5%. But the variance has been pretty tame.