Credit card debt has become more expensive to carry in recent years, with the total amount owed by consumers in the United States rising by $21 billion during the second quarter of 2026. At the same time, average interest rates on credit cards have climbed to 22.15% for accounts that were charged interest. This increase means that those who carry balances—especially those who only pay the minimum each month—see a larger portion of their payments go toward interest, making it harder to pay down the principal. As uncertainty remains about future borrowing costs, September offers an important chance for credit card users to reevaluate their financial strategies. Several options may help reduce interest expenses and better manage debt, depending on a borrower’s situation and financial goals. One approach is to request a lower interest rate directly from the credit card issuer. While companies aren’t required to agree to such requests, those with a strong payment history, long-term relationships with the issuer, or improved credit scores may have a better chance of success. Being informed about other credit card offers can also strengthen the case for a rate reduction. For individuals struggling with payments, enrolling in a credit card hardship program could provide temporary relief. These programs, often offered by credit card companies, may include reduced interest rates, lower monthly payments, or waived fees. They are typically designed for borrowers experiencing financial difficulties, such as job loss or medical expenses. Another strategy is to transfer high-interest credit card debt to a card offering a 0% introductory Annual Percentage Rate (APR). This can eliminate interest charges for a limited time, allowing more of each payment to go toward reducing the principal balance. However, balance transfer fees are common, and the promotional rate is only valid for a set period, often around six to 18 months. A debt consolidation loan is another option for those with multiple high-interest credit card balances. This involves taking out a personal loan with a lower fixed interest rate to pay off existing credit card debt. The average rate for personal loans is currently around 12.4%, significantly lower than the average credit card rate. Borrowers should carefully compare loan offers and consider their creditworthiness before proceeding. For those with multiple high-rate credit card balances, a debt management program through a credit counseling agency may be an option. These programs can help negotiate reduced interest rates or waived fees, with the borrower making a single monthly payment to the agency, which then distributes the funds to creditors. However, these programs often require the borrower to close their credit card accounts and may involve program fees. With credit card interest rates still above 22% and balances continuing to rise, waiting for rates to drop may not be the best strategy. Borrowers are encouraged to explore available options and take action in September to manage their credit card debt more effectively.