With credit card interest rates reaching new highs, you might want to try to pay off that card as fast as you can, so you don’t end up paying through the nose if those rates continue to climb.

Time.com says two weeks ago, average APRs reached 15.22%, up about .25% from the previous high in September. Banks blamed the Credit CARD Act of 2009 for the higher APRs then. However, the law simply limits how and when credit card companies can raise APRs — not the higher rates they can charge right off the bat.

In the past six months, average APRs for cash back, rewards and airline cards have also risen, with cash back and rewards cards both hovering around 14.9% interest, on average, and airline cards at roughly 14.5%. Issuers are also charging an average of a quarter of a percentage point more for balance transfer cards, with a current average of 13%.

For consumers who aren’t the most organized or dedicated to handling their credit card debt, these higher APRs or 0% balance transfer offers that run for a limited amount of time could turn out to be a risky move. And as financial guru Suze Orman told us, getting out of debt so you can prepare for your future is the way to go.

Ouch — Average Credit Card APR Now Tops 15 Percent [Time]

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