5 Ways to Get Out of Debt Faster in 2026
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Entering the new year with old woes can feel overwhelming — especially when you’re 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’t have to be.Â
We’re looking at five straightforward ways to accelerate your path out of debt in 2026 — including opening the right credit card.
We know, opening another credit card when you’re already in debt might not sound wise, but a balance-transfer card, like the Navy Federal Credit Union Platinum Credit Card, can actually be a smart move depending on your situation. Keep reading to learn how.
1. Use a Balance-Transfer Card
Using a credit card to get out of debt may sound counterintuitive, but hear us out: The Navy Federal Credit Union Platinum Card isn’t just any credit card — it’s a balance-transfer card that comes with features that can help you move out of debt faster.Â
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.
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.Â
Plus, if you’re juggling multiple high-interest cards, consolidating them into one card with a low APR can simplify things significantly. You’ll have one payment, one due date and reduced interest costs. Get started here to see how much you could save.
2. Take Stock of Where You Are Now
Sitting down at the kitchen table to do a financial inventory may not be fun (OK, let’s be honest, it’s 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 — including credit cards, loans and personal debt — and note the balance, interest rate and minimum payment for each.
Above all, don’t let that number get you down. You’re not doing this to castigate yourself; you’re trying to understand what you owe so you can take control.
3. Find a Debt Repayment Plan That Works For You
Successfully repaying your debt often comes down to your mindset — and different plans offer unique ways to motivate you to become debt-free.
For instance, if you’re 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’ve 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.
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.
Maybe a balance-transfer card like the Navy Federal Credit Union Platinum Cardsuits 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.
The important thing is to find a method that keeps you motivated.
4. Build a Better Budget
Don’t 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 — even temporarily — such as subscriptions, dining out or shopping.
Let some cobwebs grow in your online shopping cart and use the extra money to pay down your debt.
5. Celebrate Your Milestones
When you’re paying off debt, it’s easy to get stuck in cycles of self-criticism. Celebrating your wins, big and small — such as paying off a loan or sticking to your budget for a month — is essential to staying motivated.
Just don’t let your celebrations involve splurging. They can be as simple as an afternoon catching up on movies you’ve been meaning to watch or treating yourself to a spa day at home.
The Bottom Line
Getting out of debt isn’t easy, but with time and patience — and the right resources, such as the Navy Federal Credit Union Platinum Card — it’s possible.Â
It’s easy to get started here and see how much faster you could get out of debt.
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1 https://www.federalreserve.gov/releases/g19/current/
As of 12/01/2025, rates range from 10.49% APR to 18.00% APR, are based on creditworthiness, and will vary with the market based on the U.S. Prime Rate. ATM cash advance fees: None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. Balance transfer offer: Application must be submitted by 03/31/2026. Offer valid for balances transferred from non-Navy Federal credit cards within 60 days of account opening. Maximum total transfer amount is limited to your available credit line. Balance transfers using convenience checks are excluded from this offer. If you transfer a balance with this offer, interest will be charged on purchases made with your credit card unless your purchases have a 0% APR or you pay the entire balance, including any transferred balances made under this offer, in full each month by the payment due date. Offer excludes Navy Federal Home Equity Line Platinum Credit Cards. Limit of one promotional offer at account opening. Navy Federal reserves the right to change or end this offer at any time.
