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How to Quickly Pay Off Credit Card Debt

Know that you are not alone if you have credit card debt. According to Bankrate, the average household has over $15,000 in credit card debt, with an average interest rate of over 16%.

You’ll be carrying that Debt for nearly twenty years if you merely pay the minimum payment. If that approach doesn’t appeal to you, there are other quick options for getting out of credit card debt.

Quick loans on the same day have assisted thousands of people in the USA with financial problems. We are a licensed and regulated lender that will only lend to individuals who can afford the repayments.

In just eighteen months, my wife Kim and I paid off $52,000 in Debt. It wasn’t always straightforward. But the end product was worth everything we gave up.

We’ve paid off all of our consumer debt and are well on our way to paying off our home.

Being debt-free has a profound effect on one’s view on life. My wife and I are no longer concerned about money. We have a rainy day fund and plenty of extra income to travel and do fun things with.

It’s just better to live without consumer debt.

If that seems like the kind of life you want to live, here are seven steps you can take to pay off your credit card debt quickly. However, it would help if you first determined “why” you desire to be debt-free.

How to Get Rid of Credit Card Debt Quickly

After you’ve determined why being Debt-free is essential to you, you may focus on strategies to help you pay off your Debt faster.

1. Take use of the Debt Snowball

We employed the debt snowball strategy to pay off our Debt quickly.

We organized our most minor to most outstanding debts, then listed the minimum payments next to them. We prioritized paying off the smallest Debt first while making minimum payments on the rest.

Any additional funds we received throughout the month from working longer hours or selling stuff went toward the smallest Debt. We’d put extra money toward the next smallest loan when we paid that off, and Divvy Credit Card so on.

Although paying off the highest-interest cards first may save you money, I found it tremendously motivating to see each obligation paid off. We were able to do so rapidly using the debt snowball spreadsheet.

Well Kept Wallet also has a free debt snowball calculator that may help you figure out how long it will take to pay off your Debt.

2. Refinance Debt with a High-Interest Rate

Another option is to refinance high-interest credit cards to achieve a reduced interest rate.

Credible, for example, specializes in refinancing high-balance credit cards, so you don’t have to pay the exorbitant interest rates that credit cards are known for. The interest rates on certain loans are as low as 3.79 percent!

Regardless, it will be significantly less than what you are currently spending.

You’ll be able to pay off your sums faster if you can cut your interest rates on the money you owe.

3. Earn money on the side with a side hustle

Another approach we employed to get out of Debt so rapidly was to take advantage of side hustles. Throughout the period we were working off our Debt, I did various side gigs.

I delivered pizzas, sold merchandise, and did some freelance writing. There are hundreds of side hustles you may undertake to assist you in bringing in extra cash and paying off your Debt quickly.

You can work a second job, work overtime at your current employment, create a small business such as landscaping, or undertake freelance work in a field you have experience in.

To come up with side hustle ideas, start by compiling a list of what you enjoy doing and what you’re skilled at. Then consider how you can make money using those skills.

For example, if you are good at math and enjoy working with children, you may work as a math tutor on nights and weekends. In the winter, you can shovel snow, and you can mow lawns in the summer.

You can work online designing websites for individuals if you’re strong at technical stuff. Alternatively, work as a brand ambassador in supermarkets.

Because all of the money you earn from side hustles is money you wouldn’t otherwise have, you can use it all to pay off Debt and get rid of those debts in no time.

4. Pay Off Credit Cards With Higher Interest Rates 

First, I’m a massive supporter of the previously mentioned debt snowball strategy. I believe it delivers significant psychological benefits in debt repayment. It’s motivating to watch items on your debt list vanish swiftly.

However, from a mathematical sense, paying off your highest rate cards first will help you pay off your Debt faster. You must also check the step card reviews.

The higher interest rate cards you have cost you more money each month in interest payments. The less you owe, the less interest you’ll pay, and the sooner you’ll be able to pay off your Debt.

5. Cut Down on Your Monthly Expenses

Another option for paying off Debt faster is to begin living more frugally. Reduce your expenses in any way you can. Start looking for free entertainment options.

Learn how to save money at the grocery store. Unnecessary subscriptions and memberships should be canceled, such as cable TV and gym memberships.

Examine each line item on your budget and eliminate any spending that isn’t necessary. Then, using all of the money you’ve saved, pay down your credit card debt.

6. Get rid of your belongings

Selling your belongings is another strategy to raise funds to pay off your Debt faster. You can sell your items both online and locally using various apps.

Go through every closet, drawer, and storage room, gather everything you don’t need, and sell them as soon as possible.

Make a sizeable extra payment on your loan with your earned money.

7. Make a phone call to your credit card companies

Make contact with your credit card company. You might get a cheaper interest rate on your credit cards if you negotiate. Tell them you’ll switch to a lower-rate card if they don’t cut your interest rate.

If the issuer refuses to cut your rate, look for a no-interest or low-interest credit card to which you can transfer your balance.


The sooner you pay off your credit card debt, the sooner you may focus on your next financial objective, such as paying off your mortgage, saving for a down payment on a home, or investing money to retire early.

Put your plan into action and see how quickly you can attain your Debt-free goal.

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