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How to pay my credit card debt

2 minutes minutes read

Credit cards provide a lot of advantages for the client because they are an alternative to cash and offer perks like protection to your purchases. But, when it’s time to pay off your card… How should you do it?


Mistakes usually made

  • Using your credit card for everything you buy

When you first get your credit card, it might seem easy to start using it for everything you buy. Unless you can pay the total of your balance every month, this is a bad habit because you will end up owing more than you can pay off.

  • Ignoring your debt

Ignoring your debt not only will make it grow with interest, but it also might get you into credit score problems making you an untrustworthy person for the banks.

  • Only paying the minimum

Paying the maximum you can afford may seem like a waste of money, but you should try to do it if you can. By only paying the minimum balance, especially with high interest rate credit cards, your debt will continue to grow more and more every month.


Paying off your debt correctly

  • Prioritize

You should start making a budget for your monthly expenses and send the money you cut from your expenses to pay off your credit card debt.

  • Paying more than the minimum

As mentioned before, paying more than the minimum will reduce the amount of interest you owe.

  • One at the time

If you have more than one credit card, you should focus on one debt at the time. See which card has bigger interest rates, and focus on paying off that debt while paying at least the minimum for your other cards.


In conclusion

Credit cards are important to have and give you a lot of advantages if you pay them off correctly and promptly, but you should be careful to avoid bad practices in order to not get into credit issues.


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Arturo Mendez

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