If you are facing massive amounts of debt, you might be able to use the battle going on between the credit card companies to better your own situation. Taking advantage of offers that are available and using them in a way that helps you get out of debt might be possible.

If you are able to get a 0 percent APR introductory offer, you might be able to transfer balances to that card. Then, pay them off as quickly as possible so that you don’t have to pay interest.

These offers are getting lower as the credit card companies compete for business. If you opt to do this, you should make sure that you can pay off the balance within the introductory period or shortly thereafter.

Another way that you might be able to use the war between companies to your advantage is to try to get a new card since companies are now accepting applications from people who were denied before. Now, you have to be careful here because getting a new credit card can be dangerous if you don’t go into it with a plan. Be sure that you don’t overdo the charges on the card. Try to only charge what you can pay off when the bill comes out.

If you do get a new credit card, you might get rewards for the charges you make. Just like any other new card, be sure that you can pay the balance off each month so that you don’t end up more in debt than you were in the beginning.

For people who are very deep in credit card debt, finding a way to deal with that debt is a priority. Bankruptcy is one option that you can consider at this point.

Source: Forbes, “How To Benefit From The Battle Between Credit Card Companies,” Nick Clements, Feb. 06, 2017