Choose a plan to pay down credit card debt.
Pay more than the minimum, lower your interest rate, or do both to pay down your balances faster.
Pay more, lower your rate, and avoid adding new debt.
Start by paying at least the minimum on every card. Put extra money toward your balances when you can. If you qualify for a lower-rate personal loan or balance transfer, consolidating may reduce the interest working against you. Most importantly, avoid adding new card debt while you pay down what you already owe.
Three ways to make progress
Every extra dollar you put toward your balance can help you pay it down sooner and reduce future interest.
A lower-rate personal loan or balance transfer can reduce the interest you pay and give more of your payment a chance to reduce the balance.
Paying down a card works best when new spending does not replace the balance you just paid off.
What you could realistically do next
Combine multiple credit card balances into one loan with one monthly payment. If you qualify for a lower rate, more of your payment can go toward paying down the debt.
What to check: The new rate, monthly payment, fees, payoff date, and total cost with what you pay today.
Best if: You have multiple card balances and can qualify for a lower rate with a payment that fits your budget.
Pay every minimum, then put extra money toward the card with the highest rate. This generally costs less interest than paying the smallest balance first.
What to check: Each card’s rate, minimum, and due date before choosing your first target.
Best if: You can cover every minimum and keep making extra payments.
Pay every minimum, then focus extra money on the smallest balance. Paying off one card sooner may help you stick with your plan.
What to check: Balances and rates; this order can cost more interest than highest-rate-first.
Best if: You can cover every minimum and an early payoff would keep you going.
Three numbers to use
Add what all cards require this month and compare it with the amount you can pay. This tells you whether to pick a payoff target or seek help.
Subtract total minimums from your card payment budget. If the result is above zero, send that amount to one card while keeping the others current.
Compare transfer fees or loan fees, the rates you would pay, and the time to repay. A smaller monthly payment alone does not mean a lower total cost.
A different payoff path can change cost and pace
Highest-rate-first generally reduces interest compared with smallest-balance-first when payments and other terms stay the same.
Your first paid-off card may take longer if the highest-rate balance is large.
Smallest-balance-first may give you an early payoff that helps you keep going.
Higher-rate cards may keep building interest, raising the total you pay.
Moving debt may offer a payment plan that fits your budget better.
Fees, a longer loan term, or a balance transfer rate that rises later may add cost.
Good to know
What if I cannot make every minimum payment?+
Contact your card issuers promptly and ask about hardship help or changed payment terms. Explain what you can pay and ask how any change affects interest, fees, and your account. Missing payments can add fees and harm your credit; help is not guaranteed.
Could a balance transfer help me pay off my cards?+
A balance transfer may help if you qualify and can pay down the balance during the offer period. Check the transfer fee, offer end date, rate afterward, and payment you would need each month. Approval and a high enough credit limit are not assured.
Should I pay my card before the due date?+
Paying earlier or more than the minimum may reduce interest, depending on your card’s terms and when charges post. Keep every minimum on time. Paying extra generally shortens your payoff time when you do not add new charges.
Can a credit counselor help?+
A nonprofit credit counselor can help you review your budget and assess whether a debt management plan fits. Ask about fees, how payments would work, and whether you would need to close card accounts. Counseling is useful to consider when minimum payments no longer fit.
What should I do first today?+
List each card’s balance, rate, minimum, and due date, then total the minimums. If you can pay them all, find your extra payment and choose one card to target. If you cannot, call your issuers about payment help.