How to Reduce Credit Card Debt With a Few Simple Techniques

Credit card debt has become so commonplace, some people despair of ever escaping, resigned to their fate. However, it is eminently possible to greatly reduce your debt. It is simply a matter of living strategically, relentlessly committed to this goal. Become intentional about this and you can begin to pay off your bills and reduce your credit card debt.

Instructions

1

Make your payments a week in advance to avoid any late fees. If you can't make a payment, notify your credit card company. Many companies will allow you extra time without a fee, if you provide advance notice.

2

Pay your savings account as you make each credit card purchase. Thus, when your bill comes due, you will already have the money set aside to pay. This tactic will prevent you from purchases you cannot afford and will ensure you are able to pay everything off.

3

Seek creative ways to make payments. Divert other regular expenditures into an extra payment. For example, if you tend to eat out weekly, make the commitment to eat out every other week instead. Thus, you can make a payment with the resulting savings.

4

Start looking at credit card debt assistance. Ask your credit card company for an interest rate reduction. If you are denied, then consolidate your credit card debt. If you have several credit card balances, consolidate them all onto one credit card that offers a lower interest rate. This will save you money on interest. Many credit cards offer a 0 percent interest rate for the first six months.

5

Sell things you no longer need on eBay or craigslist and use the money to make another payment on your debt.