Ways to Pay Down Your Credit Card Debt

Posted by in Articles, personal finance | 10 comments

Ways to Pay Down Your Credit Card Debt

For years, I didn’t have credit cards because I had majorly screwed up my credit and had gotten in over my head. Now, I’m financially responsible and use credit cards for everyday purchases – and pay them off as I go. I avoid paying interest fees because I pay the charges off before interest accrues; it’s the best way to use credit cards in my opinion. If you’re looking for ways to pay down your credit card debt, take a look at this infographic brought to you by Imgur.com. They’ve broken down the steps to becoming credit card debt free in an easy to read infographic:


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  1. Grady Pruitt

    This is a great infographic! I think I like the snowball method a little better than the latter method, but both can be very effective. That last step is critical if you want to get out of credit card debt!

    Thanks for sharing!

  2. Juan

    The truth is that credit card rewards really can be a great benefit. The 20% interest rates really can damage one’ s bank account but with a proper money management habits credit cards are a great thing 🙂

    • Little House

      @Juan – Credit card rewards are terrific, as long as the card gets paid off every month. For those struggling with this concept, an alternative method would work better than the rewards points they earn.

  3. John

    I especially like the idea of making a budget. In fact, I think this is the strongest way to find extra money to pay down debt. Great job on this post!

  4. Elaine@mortgagefreeinthree.com

    Now that I have finally got to the “debt free” part of my life and working on the mortgage I have simplified down from a credit card to a debit card as covered in the infographic.

    I can only spend what I have in the account – so no big splurges, and the money is deducted instantly making it easier to budget (nothing can get , Ahem! forgotten about)

    When I start travelling again for work – a credit card will be needed again, but ONLY for work. Even the “rewards” of cashback don’t add up for me so I will leave that game to those who spend rather than save fr the moment.

    • Little House

      @Elaine – That’s a great strategy. For many years I only used a debit card. I only recently switched back to credit cards to earn rewards points and for higher safety issues. But, I pay off the card each month so it works out well.

  5. John Exami

    Wow, this inforgraphic is very useful. I had some problems with my Credit cards before but as soon as I learned how to deal with the secret charges on my card, I was able to mitigate those charges and now I am debt free. Thanks for your helpful post, someone will need this for sure.

  6. Sean @ One Smart Dollar

    Great infographic. Some very good steps for those who might have some trouble spending with plastic

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