5 ways to get rid of credit card debt before interest rates climb

There's no question that credit card usage is a major issue for many Americans in any economy due to the high rates that credit cards carry and how easily card debt can compound. But right now, the average credit card interest rate is closing in on a staggering 22%, making it even easier for credit card debt to become a major issue for borrowers.

The money you borrow with this type of loan is used to pay off your credit cards, and then the loan is repaid directly to the lender over time. Debt consolidation programs work similarly, but you borrow the money through a lender partner of the debt relief company and then repay what you owe to the debt relief company over time.

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