First here are some facts...
Beside your regular interest rate there are also late credit
card payment fees and over-the-limit fees. You are paying
for your credit card more than you think.
For example if you make only the minimum monthly payments
required , it will take you more than 30 years to pay off
only $10,000 worth of credit card debt. And the total interest
on top of your initial loan will be over $25,000. Do you
still want a credit card debt?
The fastest way for you to eliminate credit card debt is
to increase your minimum monthly payments and have no late
payments.
To pay your credit cards off you must dtick to simple rules
No new purchase
If you have to use your credit card, use it only if you
can immediately replace the money you just
spent using credit card.
Be disciplined, before you create more debt think do you
really need that new mobile phone, or that new toy?
You may spend hundreds of dollars every month on items that
are useless to you, and not realizing it at all. But remember,
you still have to pay intrest rate every month on those
useless items.
Credit card debt is the number 1 debt problem in Australia.
Control your debt, control your spending. The more debt
you have the more it will be dificult to break out of that
deb cycle.