Credit card debt carries probably the highest interest rate of any consumer loan. Typically it is around 15%, or above 20% even in some cases. So if you have a $1000 balance on the card for a year, you are paying at least $150 – $200 in interest per year. If possible, paying the full balance each month would be the best if you want to avoid paying this interest. Most credit cards now have monthly autopay option, that way you won’t forget.