I'm Karen!

I am a blogger and finance coach. My specialty is helping couples get on the same financial page and win with money and marriage. 


Personal Finance


Financial Planning

How to Pay Off Credit Card Debt – Fast

Read this blog to find out how you can pay off credit card debt – fast.

I know from personal experience that credit card debt can be incredibly stressful. It can also be costly, all the monthly interest adds up. But the good news is that you can get out of it. It may not be easy and it may not happen overnight. But it is possible.

In this blog, I want to give you hope.

If you are in credit card debt, you can clear it. You can be debt free.

There’s no one-size-fits-all solution for paying off credit card debt, but there are several strategies you can use to clear it. You have to find the strategy that works for you and stick to it.

My husband and I faced this challenge ourselves, and through a combination of tactics and teamwork, we managed to clear our credit card debt.

You can be free of credit card debt!

Let me share with you some strategies for getting out of credit card debt.

Pay Off the Account with the Lowest Balance First

This method, known as the snowball method, is good for those motivated by small successes. This is the strategy that we used! We found that by paying off the smallest debts first, we gained a sense of achievement and momentum. It spurred us on to keep going!

Pay Off Highest Interest Debts First

Known as the avalanche method, this strategy is for those motivated by interest savings. By focusing on the debts with the highest interest rates, you reduce the overall amount of interest paid over time.

Read more: Debt Snowball vs Debt Avalanche Method

Do a Balance Transfer to a 0% APR Card

If you have good to excellent credit, you may qualify for a balance transfer credit card with a 0% introductory APR. This can give you a period (usually 12 to 21 months) to pay down your debt without accruing interest.

Debt Consolidation

This involves taking out a personal loan with a lower interest rate to pay off your higher-interest credit card debt. This can simplify your payments and potentially save you money on interest.

Pay More Than the Minimum on All Your Cards

If you are currently paying the minimum repayments, I urge you to increase that.
By paying more than the minimum payment helps reduce your principal balance faster, which in turn reduces the amount of interest you pay.

Our Journey with Debt Repayment

A few years ago, my husband and I faced a significant amount of credit card debt. The balances seemed insurmountable at times, and the interest was crippling. But through determination and a carefully planned strategy, we managed to clear our debt. Here’s how we did it:

The Snowball Method

In the early days of our debt repayment journey, Wayne and I found it incredibly motivating to use the snowball method. We listed all our debts from smallest to largest and focused on paying off the smallest ones first while making minimum payments on the others. The quick wins gave us a boost and kept us motivated to continue.

The Avalanche Method

Once we had a few small debts out of the way, we switched to the avalanche method. We listed our debts again, this time from highest to lowest interest rates. By focusing our efforts on the highest interest debts, we knew we were saving money in the long run. This method required a lot of discipline, but Wayne and I kept each other accountable. We had a monthly “finance date” where we’d review our progress and adjust our budget as needed.

Balance Transfer Credit Cards

Another option could have been to take advantage of a 0% APR balance transfer offer.
Although we didn’t take this option, we know that it has worked for some friends of ours.
If you have a good credit score, you could qualify for a card with a 21-month interest-free period.
You could transfer higher-interest balances to this new card and create a plan to pay it off within the promotional period.
You could divide the total amount by 21 and make sure to pay that fixed amount each month. This will require strict budgeting, but it will be worth it to avoid high interest charges.

Debt Consolidation

At one point, we considered taking out a personal loan to consolidate our debt. However, after comparing the interest rates and terms, we decided that the avalanche method was a better option for us at that time. However, for others, a personal loan might be a better fit, especially if it comes with a lower interest rate than their credit cards.

Read more: How to pay off debt fast

Paying More Than the Minimum

Consistently paying more than the minimum amount due on all our cards helped us chip away at the principal balance faster. Every little bit counts, and even an extra £50 a month can make a significant difference over time.

Creating a Budget and Reducing Spending

We took a hard look at our spending habits and created a realistic budget. We categorised our expenses into necessities, obligations, nice-to-haves, and irregular recurring expenses. This detailed breakdown helped us identify areas where we could cut back. For instance, we started cooking more at home, reduced our entertainment expenses, and planned our purchases more carefully.

Read more: How to create a budget in 6 easy steps

Building an Emergency Fund

One crucial step was building a small emergency fund. We saved up £1000 initially, which served as a buffer for unexpected expenses. This prevented us from relying on credit cards in emergencies and provided peace of mind.

Read more: Emergency Funds and why you need one.

Create sinking funds

To avoid unnecessary expenses, we started putting money aside in savings accounts.

We started saving small amounts each month for things like Christmas, car maintenance, dentist and other things that we knew were going to happen.

This was a complete game changer for our finances – mainly because every time those bills came in, we used to pay for them on the credit card.

By having sinking funds (built up over time), we could pay in cash.

Read more: What are Sinking Funds?

Switching to Cash

To avoid further debt accumulation, we switched to using cash for our everyday expenses. This helped us stick to our budget more effectively and reduced the temptation to overspend. Paying with cash also made us more mindful of our purchases since handing over physical money felt more tangible than swiping a card.

Find ways to stay motivated

Something that we found very helpful in staying motivated was setting ourselves small achievable goals.

When we have cleared another £500, we would treat ourselves to a coffee at the local coffee shop.

We also shared our debt free journey with friends. They were able to give us support and challenge us when we needed it most.

We also had a visual progress tracker. I would either create something very simple on a Word Document or our daughter would create a picture with balloons that we could colour in as we cleared a certain amount of money from the credit cards.

Another strategy that we used was to have our ‘Why’ printed out and on display around the house! It was a constant reminder of why we couldn’t go on holidays to 5 Star hotels or out for an expensive meal!

One of my personal favourites was to listen to The Ramsey Show for the daily debt free screams. Couples, families and individuals go into the Ramsey Headquarters and share their debt free story. All of them have worked hard and made sacrifices to clear their debt. It’s amazing to hear their stories and I always find them very inspirational!

Read more: Celebrate The Small Wins!


Paying off credit card debt requires a combination of strategies tailored to your financial situation. Wayne and I found that a mix of the snowball and avalanche methods, along with balance transfers, budgeting, and switching to cash, worked best for us.

Your journey to becoming debt-free will require discipline, patience, and possibly some trial and error to find what methods work best for you.

It won’t always be easy. There will be many bumps in the road and sometimes you feel like you’re swimming through treacle and not making any progress.

That’s why it’s important to remember, every step you take towards reducing your debt is a step towards financial freedom. And like us, you can achieve a zero balance and enjoy the peace of mind that comes with being debt-free.

Explore different strategies, contact me if you need some further advice and accountability and above all, stay committed to your goal.

With determination and a solid plan, you too can overcome the challenge of credit card debt.debts, we knew we were saving money in the long run.

This method required a lot of discipline, but Wayne and I kept each other accountable. We had a monthly “finance date” where we’d review our progress and adjust our budget as needed.

If you would like to contact me and have a chat on how I can help you to become debt free, please leave a comment below or email me at hello@moneyandmarriage.net , I’d love to connect with you!

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