How to effectively pay off credit card debt

If you carry credit card balances month to month, paying off that debt fast might be easier than you think. The key is developing a good plan and sticking to it. These four strategies can help you decide which course you should take to quickly pay off any credit card debt you have: 1. target one debt at a time – if you carry a balance on more than one card, make sure you always pay at least the minimum on each card. Then focus on paying down the total balance on one card at a time. 2. Pay more than the minimum- If you pay more than the minimum, you will pay less in interest overall. 3. Combine and conquer – consolidating your debt can let you combine several higher-interest balances into one with a lower rate, so you can pay down your debt faster without increasing payment amounts. 4. Re-prioritize your budget.