- 1). Find out how much you currently owe on your credit card. After you have determined that amount, think of a goal date to have your credit card paid off. Consider between a year to a year and a half depending on how much you owe. Once you have set a goal date, divide the number of months until you reach your payoff goal by the amount you owe on your credit card. For example, if you owe $1,000 and want to pay your credit card off in 12 months, you would need to make payments of $83.33 each month.
- 2). Be sure to make your credit card payments each month. Avoid skipping months, as this will make your goal more difficult to reach. Credit card statements will often provide you will a minimum payment for each month. If possible, try to pay more than just the minimum.
- 3). Consider cutting up your credit card as a way of not using it. However, do not close your credit card account until after you have cleared your debt, as closing an unpaid account can lower your credit report.
- 4). Use any extra money that you obtain to go towards your credit card bill. Although this can be difficult to do, it is a way to get out of debt faster.
- 5). Avoid opening new credit cards or having your credit limit raised on your existing credit card. These two things can potentially put you in even more debt. Remember your monthly goals for paying off your credit card and know that it is possible to pay your card off.
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