If you have good credit, typically 620 or higher, consider opening a balance transfer card. This type of credit card lets you avoid paying interest for a designated period, usually 14 to 21 months. “It lets you get ahead of debt because you are saving those interest payments,” says McQuay. Take this time to assess your finances and develop a game plan. While a balance transfer card does not erase your debt, it gives you room to breathe, adds McQuay.