I don't know what rates are being charged on credit cards in the US but here in the UK they're very high bearing in mind the official Bank of England bank rate, mortgage rates, inflation rate, etc. Using cards for purchases costs around 16% but taking cash out is nearer 25% plus a 3% fee on top!
BBC News - 16 April 2008
Credit cards now more expensive 
The cost of using plastic has risen in the past two years
Credit card customers have been paying higher interest charges and fees since default charges on their cards were capped two years ago.
In April 2006, the Office of Fair Trading (OFT) forced the banks to reduce nearly all their credit card default fees to £12.
But the financial information service Moneyfacts says the average purchase rate has risen from 14.9% to 16.4%.
The average rates for taking out cash have risen from 18.1% to 24.3%.
And the one-off fee for taking out cash has gone up at most card issuers from a typical 2% to 3%.
"Taking cash out on credit cards has always been an expensive way of borrowing, particularly as interest is charged from day one," said Michelle Slade of Moneyfacts.
"But with the 6.2% increase in the average rate for customers who are relying on cash advances to balance their monthly budget, it will make a bad situation even worse," she added.
Full story:
BBC NEWS | Business | Credit cards now more expensive