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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by Entering the new year with old woes can feel overwhelming \u2014 especially when you\u2019re dragging the ball and chain of debt around with you long after the big ball drops. You want a fresh start, but you feel stuck. Fortunately, you don\u2019t have to be.\u00a0<\/p>\n We\u2019re looking at five straightforward ways to accelerate your path out of debt in 2026 \u2014 including opening the right credit card.<\/p>\n We know, opening another credit card when you\u2019re already in debt might not sound wise, but a balance-transfer card, like the Navy Federal Credit Union Platinum Credit Card<\/a>, can actually be a smart move depending on your situation. Keep reading to learn how.<\/p>\n 1. Use a Balance-Transfer Card<\/p>\n Using a credit card to get out of debt may sound counterintuitive, but hear us out: The Navy Federal Credit Union Platinum Card<\/a> isn\u2019t just any credit card \u2014 it\u2019s a balance-transfer card that comes with features that can help you move out of debt faster.\u00a0<\/p>\n First of all, it comes with a 0% introductory APR for 12 months from account opening on balance transfers made within the first 60 days of opening the account. That means more of your payment goes toward the principal instead of being eaten up by interest.<\/p>\n After the 0% introductory APR period, a variable APR between 10.49% and 18% applies1. Compare that to the average credit card APR: As of August 2025, the average APR for credit card users carrying a balance is 22.83%, according to the Federal Reserve1.\u00a0<\/p>\n Plus, if you\u2019re juggling multiple high-interest cards, consolidating them into one card with a low APR can simplify things significantly. You\u2019ll have one payment, one due date and reduced interest costs. Get started here<\/a> to see how much you could save.<\/p>\n 2. Take Stock of Where You Are Now<\/p>\n Sitting down at the kitchen table to do a financial inventory may not be fun (OK, let\u2019s be honest, it\u2019s definitely not fun), but it is necessary if you want to slip free of your debt. Start by making a list of all your debts \u2014 including credit cards, loans and personal debt \u2014 and note the balance, interest rate and minimum payment for each.<\/p>\n Above all, don\u2019t let that number get you down. You\u2019re not doing this to castigate yourself; you\u2019re trying to understand what you owe so you can take control.<\/p>\n 3. Find a Debt Repayment Plan That Works For You<\/p>\n Successfully repaying your debt often comes down to your mindset \u2014 and different plans offer unique ways to motivate you to become debt-free.<\/p>\n For instance, if you\u2019re excited by the idea of building momentum over time, you might like the debt snowball method. With this approach, you pay off your smallest debt first while making minimum payments on the others. Once you\u2019ve cleared that debt, you roll the amount you were paying into the next balance. This helps you build momentum with a series of larger and larger wins.<\/p>\n But if the prospect of high-interest debt looming over your head troubles you, you can sheath that sword of Damocles by trying the debt avalanche method, in which you pay off the debt with the highest interest rate first. This approach can save you the most money on interest over time.<\/p>\n Maybe a balance-transfer card like the Navy Federal Credit Union Platinum Card<\/a>suits your needs. You can use its 12-month introductory APR of just 0%1 to give yourself some breathing room while you pay down your debts.<\/p>\n The important thing is to find a method that keeps you motivated.<\/p>\n 4. Build a Better Budget<\/p>\n Don\u2019t let your money be a mystery. Track all your income and expenses for a month to see where your money goes. Odds are, some of it flows to nonessential areas you can trim \u2014 even temporarily \u2014 such as subscriptions, dining out or shopping.<\/p>\n Let some cobwebs grow in your online shopping cart and use the extra money to pay down your debt.<\/p>\n 5. Celebrate Your Milestones<\/p>\n When you\u2019re paying off debt, it\u2019s easy to get stuck in cycles of self-criticism. Celebrating your wins, big and small \u2014 such as paying off a loan or sticking to your budget for a month \u2014 is essential to staying motivated.<\/p>\n Just don\u2019t let your celebrations involve splurging. They can be as simple as an afternoon catching up on movies you\u2019ve been meaning to watch or treating yourself to a spa day at home.<\/p>\n The Bottom Line<\/p>\n Getting out of debt isn\u2019t easy, but with time and patience \u2014 and the right resources, such as the Navy Federal Credit Union Platinum Card \u2014 it\u2019s possible.\u00a0<\/p>\n It\u2019s easy to get started here<\/a> and see how much faster you could get out of debt.<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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