How to Cut Credit Card Debt in Half, Quickly
- 1). **Contact the credit card company**
Call the credit card company and ask for the lowest interest rate possible. Explain that you are trying to settle the debt, but need a lower monthly payment. Be respectful, but persistent. Ask for supervisor if you are not getting anywhere with the Customer Service representative. - 2). **Pay extra on the balance**
Double your monthly payment as soon as possible. Pay the bill online and process the transaction early in the month. Pay quickly and pay often. Squeeze as much as you can out of your budget. Bought a $7.00 lunch today? It should have gone towards the credit card. - 3). **Switch to a lower interest rate**
Consider transferring the balance to a credit card with a lower interest rate. This might mean you need to apply for another credit card. You may also need to pay a fee to conduct this transaction.
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