Credit card debt grows quietly. The good news: a simple plan, followed every month, works.
1. List everything you owe
Write down each card's balance, interest rate and minimum payment. Seeing it all in one place is the first step.
2. Never miss a minimum
Late payments add fees and damage your credit. Set up autopay for the minimums so nothing slips.
3. Pick a payoff method
- Avalanche: put every extra dollar toward the highest-interest card. This saves the most money.
- Snowball: pay off the smallest balance first for quick wins. This is great for motivation.
4. Cut the interest
- Call your card issuer and ask for a lower rate. It works more often than people think.
- A 0% balance transfer card can stop interest while you pay down the balance. Factor in the transfer fee, and pay it off before the intro period ends.
- On active duty with pre-service debt? Request your SCRA 6% cap.
5. Get free help if you need it
Nonprofit credit counselors (look for NFCC members), Military OneSource and your service's relief society offer free help. Be wary of companies that charge big upfront fees to "settle" your debt.
Today's Credit Cards is an independent educational site. We are not a bank, lender or financial advisor, and nothing here is financial or legal advice. Card terms change often, so always confirm current rates, fees and benefits with the card issuer. Some links may earn us a commission; see our advertiser disclosure.