Pay Off High-Interest Credit Card Debt: 15 Strategies

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Paying off your high-interest debt can be a difficult task. Knowing where to start, what steps to take next, and avoiding common mistakes can make the process much more manageable. Here are 15 tips to help you pay off high-interest debt quickly.

[{"selector":"#anim-c177f208-8a4b-416f-9862-08f49f6a8a99","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6652cbaf-cc99-4161-b713-6375254e6e6b","keyframes":{"transform":["rotate(-41deg) translate3d(0px, -68.33437%, 0) rotate(41deg)","rotate(-41deg) translate3d(0px, 0px, 0) rotate(41deg)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-567c5da6-dca0-4949-aff9-22a85c00463c","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

Many creditors are willing to negotiate a lower interest rate if you have paid on time for several months.

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If you have a good credit score, you might be able to transfer some or all of your credit card debt to a zero or low-interest card. With a 0% credit card, you will pay off credit card debt faster.

[{"selector":"#anim-af2fe9cc-b1ea-4132-a9e4-418f37f053a4","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7f317f8d-32a2-474e-b21a-d89417995be7","keyframes":{"transform":["translate3d(-115.70512%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aabcbd58-1d30-4183-92b1-f0bde0ffc24d","keyframes":{"opacity":[0,1]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57411ed4-ef4f-4603-944b-7c21fcd0213e","keyframes":{"transform":["translate3d(-114.60318%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0312f03a-12b6-4687-81d0-dfa317243253","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-02e200c9-723b-4dfd-a866-6a151559ccce","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1caec748-6fdc-47dd-bbc1-a62ca64965d1","keyframes":{"transform":["translate3d(99.72603%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Tip #2: Balance Transfer Credit Card Tip #2: Balance Transfer Credit Card Learn more

[{"selector":"#anim-ac7a41e4-609e-43f8-a51c-df16f94f8f43","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5dfc326f-f31b-4acd-8949-ee05915002b8","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-da2250d8-9bc8-4d7f-9165-9cc8bfe3d176","keyframes":{"transform":["translate3d(100.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8fff6c5-690b-49f7-a29b-29294b0b3f10","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2b411a4f-d857-4f70-93fc-16da41ff1ee0","keyframes":{"transform":["translate3d(-113.94659%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-182c4465-3dcb-4edd-ac96-21b4275141c7","keyframes":{"opacity":[0,1]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90bf5105-b2d4-4063-9d57-79dd72431a41","keyframes":{"transform":["translate3d(-115.14196%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Tip #3: Pay More Than The Minimum Payment Every Month Tip #3: Pay More Than The Minimum Payment Every Month If you only make the minimum monthly payment on your debts, it will take you a very long time to pay them off. If you only make the minimum payment each month, you will end up paying more in interest than you originally borrowed. Learn more

To pay off your credit card balances more quickly, you need to find ways to free up extra money each month. One way to do this is by cutting back on unnecessary expenses.

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Tip #5: Tackle Any Smaller Debts First

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Pay Off High-Interest Credit Card Debt: 15 Strategies

Paying off your high-interest debt can be a difficult task. Knowing where to start, what steps to take next, and avoiding common mistakes can make the process much more manageable. Here are 15 tips to help you pay off high-interest debt quickly.

Many creditors are willing to negotiate a lower interest rate if you have paid on time for several months.

If you have a good credit score, you might be able to transfer some or all of your credit card debt to a zero or low-interest card. With a 0% credit card, you will pay off credit card debt faster.

To pay off your credit card balances more quickly, you need to find ways to free up extra money each month. One way to do this is by cutting back on unnecessary expenses.

Tip #5: Tackle Any Smaller Debts First

Tip #5: Tackle Any Smaller Debts First

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