3. Transfer Balances to a 0% APR Credit Card

A balance transfer card allows you to move your credit card balances to a new card that offers a 0% introductory APR, usually for 12–21 months. During that time, every dollar goes toward principal, not interest.

Important notes

• There is usually a 3%-5% balance transfer fee.
• You must qualify based on credit score.
• Try to pay the balance before the promo rate ends.

Best for: Those with good to excellent credit who want breathing room.

4. Consider a Debt Consolidation Loan

A debt-consolidation loan replaces multiple credit-card balances with one fixed-rate loan. This typically offers a lower interest rate, simplifies payments, and creates a clear payoff timeline.

Benefits

• One monthly payment instead of several
• Predictable timeline and structure
• Possible improvement in credit mix

Best for: People with multiple high-interest cards and steady income.