Millions of Americans struggle with high-interest credit card debt, often feeling stuck in a cycle where payments barely cover the accumulating interest. The problem isn’t just the debt itself; it’s the predatory rates that make escaping feel impossible. However, several effective strategies can help you regain control of your finances.
1. Leverage Balance Transfer Cards
The most immediate solution is a balance transfer card with a low or 0% introductory APR. This allows you to shift your existing high-interest debt to a card where you pay minimal interest for a set period, typically 12-18 months.
The Navy Federal Credit Union Platinum Credit Card is an example: it offers a 0% introductory APR on balance transfers for 12 months with no balance transfer fees. This means more of your payment goes directly towards reducing the principal, the actual amount you owe, instead of being wasted on interest.
As of August 2025, the average credit card APR is 22.83% (according to the Federal Reserve), while this card’s post-introductory APR ranges from 10.49% to 18%. Consolidating multiple high-interest debts into one low-APR card simplifies payments and reduces overall costs.
2. Boost Income with a Side Hustle
Increasing your income, even temporarily, can significantly accelerate debt repayment. The key is to choose something you enjoy to avoid burnout.
Many options exist: freelance work in areas like writing or graphic design, part-time shifts at your favorite local business, or even event staffing if you thrive in social settings. The goal is to generate extra cash specifically earmarked for debt reduction.
Treating a side hustle as a temporary but focused solution makes the process less daunting and more sustainable.
3. Negotiate with Your Creditor
Many cardholders hesitate to contact their credit card company directly, fearing confrontation. However, creditors are often willing to negotiate, especially if you demonstrate a commitment to repayment.
Requesting a temporary APR reduction, exploring hardship programs, or asking for fee waivers is entirely reasonable. Explain your active efforts to pay down the balance and your desire for assistance in lowering interest costs. Many companies have programs designed to help customers avoid default.
Bottom Line: High-interest credit card debt feels inescapable, but proven strategies exist to break the cycle. Balance transfer cards, strategic side hustles, and direct negotiation with creditors can provide tangible relief. The Navy Federal Credit Union Platinum Credit Card offers a clear path toward lower interest and faster repayment.
Learn more and see how much you could save.
Note: As of December 1, 2025, APRs range from 10.49% to 18.00% and are based on creditworthiness. Balance transfer offers have expiration dates; the Navy Federal offer is valid for applications submitted by March 31, 2026.
