Americans are carrying more than $1.2 trillion in credit card debt, and for a lot of people, it’s not from splurging. It’s everyday stuff: car repairs, medical bills, groceries. And if you only make the minimum payment, that debt can grow exponentially, sticking around for years.

The average credit card interest rate today is close to 20 percent, nearly doubling since 2010. So what’s driving these high rates?

Part of it is the broader economy. When the Federal Reserve raises rates to fight inflation, credit card APRs usually go up too. But that’s not the whole story.

Credit cards are unsecured loans, meaning there’s no house or car to repossess if you don’t pay. And Americans have become more and more reliant on credit cards as wages stagnate and health care costs continue to rise.

Read more about how credit card interest rates are impacting everyone:

This video is presented by Klarna. Klarna doesn’t have a say in our editorial decisions, but they make videos like this one possible.