Last year alone, Americans paid $113 billion in interest on credit cards. That’s 50 percent more than just five years ago. With a total of more than $1 trillion in outstanding revolving credit card debt and an average balance of more than $6,000, millions of Americans are feeling the squeeze of higher interest rates and excessive fees.

Meanwhile, the banks that needed taxpayer bailouts after tanking the global economy during the financial crisis are reaping the profits. Banks made a record $236.7 billion in profits last year, boosted by nearly $30 billion in giveaways from the Trump tax cuts.

The median APR on a credit card stands at a record 21.36 percent. Department stores and retail companies charge consumers upwards of 27 percent on their store-branded credit card offerings. For some stores, credit card fees make up more than one-third of their total revenue. And for those who don’t have access to traditional lines of credit, unscrupulous lenders are waiting to take advantage.