Credit Card Debt

An International Business Times article from earlier this year looked at one problem many people in the United States face, credit card debt. If you are currently facing excessive credit card debt, now is the time to take the steps to reduce your debt.

Pay More Than the Minimum

If you are making only a minimum credit card payment, it is going to take longer and cost you more to pay off your credit card, especially if you have a large amount of debt combined with a high interest rate. Instead, focus on paying as much as possible, allowing you to pay off the debt sooner and save on interest payments.

Avoid Using

If you have high credit card debt, and you continue to add to it, getting out of credit card debt is going to be difficult. To avoid increasing your debt, avoid using your credit card at least until you can bring your debt down to a manageable level.

There are several things you can do to avoid having to use your credit card. One of the biggest things is to look for ways you can cut back on expenses. This may include making food instead of going out to lunch. You can also look for free or inexpensive entertainment. You may also want to cut out subscriptions or services you rarely use or that you could do without. This may include cable, your home phone, your gym membership, or other services. If cutting back on expenses does not help enough, you may need to find a second part-time job. Not only will this help you make more money, but it will give you less time to spend money. Many of these actions will also allow you to have the money needed to make higher credit card payments.


Consolidating your debt is especially helpful if you are paying several credit card companies or if you have other debt. By combining the debt, you will only have to make one payment. Consolidating your credit card debt may also allow you to get lower interest rates, which allows you to get out of debt sooner.

Contact us to learn more about consolidating your credit card debt and other tips on getting rid of debt.

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