Don’t let your credit debt drag on for years. Learn how to pay it off quick.

1. Pay Off Credit Card Debt
Does Pay MORE Than the Monthly Minimum
If you only pay your minimum credit card balance each month, you’re not alone. Thousands of
people across the nation are in serious credit card debt. One of the main reasons why they are is
because they’re doing the same thing you’re doing – only paying the minimum amount required.
When you only pay the minimum, you’re not paying down your debt at all. You’re merely
paying a portion of the interest that you’re accruing. This is not how you pay off credit card debt.
About Credit Card Debt and Interest
If you stop using your credit cards completely and only pay the minimum amount each month, it
would still take you years and years to pay off even the slightest balance. Why? Because even
though you’re not making new charges on your credit card, you still have a balance; and that
balance is building interest which is increasing the amount you owe. So if you’re only paying
$40 a month towards your credit card debt, you’re barely making a dent in your balance, the
interest continues to increase, and the amount you owe is barely affected. That’s why paying the
minimum amount each month is not a practical way to pay off credit card debt. If you really
want to tackle your credit cards, you need to stop charging your expenses and establish a
household budget to pay off your credit card debt.
Paying Off Multiple Credit Cards
Most people have more than 1 credit card. As a result, most people with credit card debt
problems have it across multiple cards. This definitely makes paying off credit card debt more
difficult. However it’s not impossible to do. When you have multiple credit cards with varying
levels of debt, you want to tackle the card with the least amount of debt first. This will be the
easiest to pay off. However, if you have thousands of dollars on all your cards, you might need to
consolidate your credit card debt with a debt consolidation loan or by taking advantage of other
debt consolidation services. If creditors are hounding you and your accounts have gone into

2. collections, you definitely need to get credit counseling to see what options are best for you to
pay off credit card debt.
If you want to pay off credit card debt you need to first asses your situation and decide if you can
eliminate credit card debt on your own or if you need professional debt consolidation help. Then
you can form the right plan to pay off those credit cards and get control of your finances. For
more articles on Credit Card Debt Relief, visit Bills.Com