Interest rates are one of a major factor in managing credit card debt. If you have a high balance and you are paying high interest on a credit card, you are spending a lot of money to "borrow" that money from the credit card company. Additionally, the minimum payment that the credit card company calculates for you is only based on accrued interest. By paying only the minimum, you'll never reduce your debt. If you have decent credit and some credit card debt on one of these high interest cards, consider applying for a 0% interest rate card. Be informed however. Many of the 0% rates are introductory – for a limited time. But paying less money to maintain your debt is your first step towards managing and eliminating credit card debt.