Steps to Dumping your Credit Card Debt

Is it your goal to pay off your credit card debt? You are not alone. Millions of Americans set this goal each year. Here are the steps in succeeding.

1) Cut the cards. Stop adding to your debt. Stop routinely using them by carrying cash, using debit and not credit, and by keeping them out of sight.

2) Lower rates/ cut a deal. Get your spending under control first, and then negotiate your rates. Call your credit card issuers and ask for a better rate. Transfer your balances. Consider doing this from cards with high interest rates to a different card. Shop around. Do a little investigating to find the best credit card offers.

3) Reduce your debt. Sort it out- make a list of each credit card and include the existing balance, interest rate and the minimum payment. Develop a plan by paying as much money as you can on your card with the highest interest rate while paying the minimum on the other cards. This helps you to pay it off quicker. Last, build a debt snowball. Once the highest interest rate card is paid off, take that same amount you paid and add it to the minimum payment on the next highest interest rate card.

4) Think ahead. Invest. Invest the same amount of money you've been applying to your debt every month. Last, visualize each day imagining a debt free life and paying cash for each purchase.

TIP: Call 1-888-5-OPTOUT to stop the flood of credit card offers from reaching your mailbox.