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I have credit card debt

Explore the common approaches people compare. Use the tools to run numbers that fit your situation.

Common options

View all options
Balance transfer cardLearn how it works
Personal loanLearn how it works
Debt avalancheLearn how it works
Debt snowballLearn how it works
Credit counselingLearn how it works

These are common approaches people consider. Each has different requirements and tradeoffs.

Factors to compare

Interest cost

How much interest may apply over time.

Credit approval

Approval likelihood and credit score impact.

Monthly payment

Typical monthly payment or amount due.

Payoff time

Estimated time to become debt free.

Fees

Upfront or ongoing fees that may apply.

Tradeoffs

Potential benefits and downsides.

Educational notes

Results depend on APRs, fees, credit approval, income, spending habits, and other factors. Use calculators to explore different inputs and see how results change.

Common questions

Is a balance transfer card or a personal loan better for consolidating debt?

A balance transfer card can offer 0% interest for a promotional period but usually charges a transfer fee and reverts to a regular APR afterward. A personal loan has a fixed rate and payment for the full term, which can make it easier to plan around if you won't pay off the balance quickly.

What's the difference between debt avalanche and debt snowball?

The avalanche method pays extra toward the highest-APR balance first, which typically minimizes total interest. The snowball method pays extra toward the smallest balance first, which can build momentum through quicker wins even if it costs slightly more in interest.

Is credit counseling the same as debt settlement?

No. Credit counseling agencies typically review your budget and may set up a debt management plan where you keep paying creditors in full through one monthly payment. Debt settlement negotiates to pay less than owed, which can affect credit differently and isn't covered on this page.

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