Target one debt at a time

Focus on paying one credit card at a time. This way you’ll be able to keep track of how much debt you’re left with.

Make sure that you pay at least the minimum on each card.

Avoid skipping any payments, because this will result in high interest charges and you being in debt for longer.

Pay more than the minimum.

Look at your credit card statement and make sure that you pay more than the minimum for each credit card. This will help you get out of debt faster.

Take advantage of a low balance rate to move debt off high interest credit cards.

If you have a 0% APR credit card, transfer the balance from a high interest card. This way you can save more on interest payments.

If you have equity in your home, you could use it to pay credit cards off.

Refinancing your home is one step you could take towards paying credit cards off. By using the equity on your home, you could become debt-free faster. Keep in mind that you need to have a good credit rating to qualify and you are putting your home at risk in the event that you default.

Look for areas where you can cut back in your spending

Budget better and find extra cash to use to pay credit cards off. You could plough all your extra cash into the highest interest card while paying the minimums on the others.

Try negotiating a lower interest rate.

Call up each credit card company and request lower interest rates. You never know – there may be a credit card issuer who understands your plight and is willing to lower rates.

Store your credit cards where you won’t have easy access to them.

Rather pay in cash whenever possible.