As APRs reach record highs, what's a good credit card interest rate?

With the average credit card interest rate at a record high of nearly 21%, it behooves consumers to shop around before applying for a new line of credit that could make any amount of debt very costly to carry.

Credit card interest rates, or annual percentage rates (APRs), lately have risen in tandem with the Federal Reserve's repeated interest rate hikes, designed to slow the economy and cool inflation. 

The average credit card APR recently soared to 20.92%, which is higher than it's been at any point since the Federal Reserve began tracking APRs in 1994, according to a study from WalletHub.