Here's How to Get Out of Credit Card Debt

Credit card debt can feel overwhelming, especially when high interest rates keep making the balance grow. The good news is you can take control of your debt and pay it off faster with the right strategies. Here are some of the best ways to get out of credit card debt and take back your financial freedom.

1. Use a balance transfer credit card

The best balance transfer credit cards can help you get rid of debt faster by reducing or eliminating interest payments. Many of these cards offer 0% APR for up to 21 months, giving you a window to pay off your balance without interest piling up.

Here's how it works:

• Apply for a balance transfer card with a 0% introductory APR.
• Move your existing credit card debt to the new card.
• Pay down the balance as much as possible during the interest-free period.

Keep in mind that many balance transfer cards charge a fee of 3% to 5% of the debt transferred, so make sure the savings outweigh the cost before you apply. Also, avoid making new purchases on the card -- your goal is to pay off debt, not add to it.

2. Tackle it with the snowball or avalanche method

If you have multiple credit cards with an outstanding balance, you'll need a strategy to pay them off efficiently. Two of the most popular methods are:

• The snowball method: Pay off the smallest balance first while making minimum payments on the others. Once the first card is paid off, move on to the next smallest. This builds momentum and keeps you motivated. Staying motivated can be the hardest part of tackling debt, and seeing some debts completely disappear as you go helps keep morale high.
• The avalanche method: Focus on paying off the card with the highest interest rate first. This method saves you the most money in interest over time.

Both strategies work, so choose the one that keeps you motivated to stick with your plan.

Get out of debt faster. Check out our list of the best 0% intro APR credit cards to find out today if you can get up to 21 months of 0% interest on your debt.

3. Cut unnecessary spending

If you're serious about getting out of debt, take a hard look at your expenses. Small cuts can add up quickly:

• Cancel unused subscriptions.
• Eat at home instead of dining out.
• Look for free or low-cost entertainment.
• Reduce impulse spending by using a 24-hour rule before buying anything non-essential.

Every dollar you save can go toward paying down your debt faster.

4. Consider a side hustle

Earning extra income is one of the fastest ways to pay off debt. Even an extra $200 to $500 a month can make a big difference. Consider:

• Freelancing or gig work (writing, graphic design, tutoring, etc.)
• Driving for a rideshare or food delivery service
• Selling unused items online
• Picking up extra shifts at your current job

Every extra dollar you earn should go directly toward paying off your credit cards.

5. Negotiate a lower interest rate

You might be able to lower your interest rate just by asking, especially if you've been a long-time customer with a good payment history. Call your credit card company and request a rate reduction. Even a small rate cut can save you money and help you pay off debt faster.

Start getting out of debt today

Getting out of credit card debt takes discipline, but it's absolutely possible. Whether you use a balance transfer card, focus on cutting expenses, or pick up a side hustle, the key is to stick to a plan and keep making progress. The sooner you start, the sooner you'll be debt free.