One of the best and quickest ways to reduce your credit card interest rates is through refinancing credit card debt. This involves getting a personal loan with a lower interest rate and then combining all your debt into one monthly payment. Lenders can help you through the process. As you compare debt consolidation loan offers, try to identify lenders that offer direct payment to the creditor as this can save you time and potentially money too. Lenders that offer direct payment to creditors can pay off balances at your request and roll them onto the new loan.