Damn, that's fucking brutal. My IRA is at 7.5% right now and I was bitching to the credit card when it was at ten and a quarter. The last loan we got on a car, the loan officer at the bank was physically pissed off; the rate we were offered ensured that the bank would be making $475 in total towards the purchase of a new Honda Fit. I think the rate was under 2%. Sometimes it's good to be a fogey.
And my credit score isn't bad, to boot. I have one delinquent record on it from a bank of all things, and I can't wait when that fucker drops off in another year or two. Every other bill I've ever had I have always paid early/extra/on time. I might get a lower rate if I called and asked - but I don't want a fucking lower rate. It'll only apply to new purchases anyway. I want no more debt.
I paid off a credit card on February 13, 2007. February 14 I got laid off from my job. Then I had to run the card back up again to establish another life in LA while putting my wife through college in Seattle... paid it off again just a couple months ago, but not without some serious trepidation. Figured it was entirely possible I'd lose my good gig yet again. I was actually relieved when the annual fee kicked in a day before the payoff went through, thereby giving me a balance of $69. Damn right I waited until the gig was done for the year before I paid it off completely. When the universe sends you signals like that...