High-interest rates on credit cards can be a major burden, making it difficult to pay off debt and causing stress and anxiety. However, there are several practical ways you can survive and even thrive despite these high rates. Here are 10 strategies from American Hope Resources that can help you take control of your finances and overcome the challenges of high credit card interest rates:

1. Pay more than the minimum payment. One of the best ways to tackle high-interest credit card debt is to pay more than the minimum payment each month. This will help you pay down the balance faster, reduce the amount of interest you’ll pay over time, and ultimately save you money.
2. Consolidate your debt. Another option is to consolidate your high-interest credit card debt into a lower interest loan or line of credit. This can help you save money on interest payments, and may even help you pay off your debt faster.
3. Negotiate with your credit card company. If you’re struggling to make your payments, consider negotiating with your credit card company to see if they can offer you a lower interest rate or a more manageable payment plan.
4. Transfer your balance to a 0% APR credit card. Another option is to transfer your high-interest credit card balance to a 0% APR credit card. This can give you some breathing room to pay down your debt without accumulating more interest charges.
5. Create a budget and stick to it. Creating a budget is an essential step in managing your finances and paying down debt. Take a close look at your income and expenses, and identify areas where you can cut back and save money.
6. Use cash instead of credit. Using cash instead of credit can help you avoid accumulating more debt, and may even help you save money on purchases by encouraging you to make more thoughtful and intentional buying decisions.
7. Avoid making new charges on your credit card. To avoid adding to your debt load, try to avoid making new charges on your credit card until you’ve paid down your balance and reduced your interest charges.
8. Consider a debt management program. If you’re struggling to manage your debt on your own, consider enrolling in a debt management program. These programs can help you consolidate your debt, negotiate with your creditors, and develop a plan to pay down your debt over time.
9. Take advantage of credit card rewards programs. While it may seem counterintuitive, using credit cards with rewards programs can actually help you save money on purchases if you’re able to pay off your balance in full each month. Just be sure to choose a card with rewards that align with your spending habits and goals.
10. Seek the help of a financial advisor. If you’re feeling overwhelmed or unsure of how to proceed, consider seeking the help of a financial advisor. A professional can help you develop a personalized plan to manage your debt and achieve your financial goals.

While high-interest rates on credit cards can be daunting, there are several practical strategies you can use to survive and overcome this challenge. By paying more than the minimum payment, consolidating your debt, negotiating with your credit card company, creating a budget, using cash instead of credit, and seeking professional help, you can take control of your finances and build a brighter financial future.