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Refinancing debt is also a smart strategy, especially for those in the post-grad plateau— the early stages of a promising career—with plenty of raises just around the corner.With fixed-rate credit cards becoming more difficult to find, and the average annual percentage rate (APR) for variable-rate credit cards just over 16% as of this writing, you could save thousands of dollars by refinancing credit card debt with a low-interest personal loan.

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Fortunately, applying online usually doesn’t take more than a few minutes.“Most people do not like to pull into a parking lot to go and stand in line to sign some papers,” said Bradford. The easier it is for customers to consolidate debt and refinance, the more likely they’ll be to take advantage of its benefits.

There’s also the savings argument, which becomes a no-brainer once you run the numbers.

End the vicious cycle of credit card debt, rather than transferring the balance to yet another credit card, which you might continue to charge up.

Armed with new information and a game plan, the next time the subject of money—specifically credit card debt—comes up, you’ll have plenty to talk about.

You have two goals when you consolidate: The first part makes it easier to manage debt in your budget. And depending on which option for consolidation that you choose, you may even have fixed monthly payments, instead of the revolving system described above.

As for reducing your interest rates, the goal is to get the monthly interest charges down as low as possible.

Looking for a one-stop shop for all of your credit card calculations?

Credit card calculators can help you with financial questions and decisions: Figure out your balance payoff date, weigh the benefits of consolidating high-interest debt, or create a plan to accelerate your debt payment.

Credit card debt has a way of causing problems for your financial outlook.

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