Depending on your financial situation, a balance transfer or personal loan can both be good options. Balance transfers have lower interest rates, especially in the introductory period, and can be a great way to tackle debt if you can manage to pay it in a short amount of time. Personal loans have higher interest rates, but lower interest rates than a credit card balance transfer after the introductory period, and longer terms. If you need more time to pay off your debt, a personal loan is a better option.