Settling credit card debt

If possible, you should settle the balance of your card in full every month. That way, you can be sure your credit card debt won’t spiral out of control and you will also minimise the amount of interest you have to pay.

While that might not always be possible, you should still try to pay off as much as you can afford each month. Although your credit card bill will state a minimum amount to pay, always try to pay more. Just paying the minimum amount is unlikely to reduce your balance once the interest has been added to it.

If at all possible, avoid missing payments, because that will result in penalty fees being added to your balance. You can normally arrange a regular monthly direct debit from your bank account to ensure you pay on time each month.

Credit card debt worries

If you are having problems with credit card debt, stop using your card immediately. Destroy your card if it helps you take control.

Also, get in touch with your provider and explain the situation. Keeping your lender in the dark about your problems won’t help.

Credit card debt advice

If you are struggling to make credit card payments, the most important thing to do is to get professional debt counselling. We can offer you help and advice completely free of charge. Our online debt counselling service, CCCS Debt Remedy, can assess your financial circumstances and advise you on the most suitable debt solution.