1) Remember, credit cards are for emergencies only Credit cards were made to help you in your spending and not to cripple your finances. The best and the most logical way to eliminate credit card debt is to decrease your use of your credit card. A good way to manage your expenses is by creating a weekly or monthly budget and to strictly follow it making sure that all your purchases are within your stipulated budget. This limits your spending. Avoid splurging on new clothes, eating out and BUY ONLY WHAT YOU NEED. Try using cash instead of plastic. Carrying a lot of cash is a hassle to most but it is really the most effective way of making sure you don’t overspend.

2) PAY! PAY PAY! Here’s what you do. Gather your entire outstanding bills and compute your total monthly bill. Be consistent in paying this amount every month. REMEMBER: This monthly payment should never be missed nor skipped. Be religious in paying it. Aside from that monthly payment, pay an extra amount to the creditors who charge you the highest interest rate. Make sure that this extra amount will be enough to make a dent in your total debt. This will initially hurt your pockets, but you will reap the benefits soon. By paying in advance, you avoid accruing accumulated interests and it will help you lower your monthly payments. Once you have cleared your balance in this credit card, do the same for the credit card with the second highest interest rate. You will continue to do this until you have eliminated your credit card debt.

3) Contact Your Credit Card Company One tip that seems to be overlooked is the fact that you can ask for help from your credit card company. Keep in mind that these credit card companies are business establishments and that they will do anything to keep you doing business with them. Call the collections department (use the toll free number printed on your bill) and ask for interest rate discounts. You can do this by informing your credit card company that you are having financial difficulties and that you need to have your interest rate lowered. They would usually allow you to negotiate a lower interest rate that is much more affordable for you. If they don’t allow you to, try to find a credit card company with a lower interest rate of interest and change cards IMMEDIATELY.

4) Get professional help If you can’t do it on your own, then it’s time to bring in the big guns. Getting professional help to get out of your credit card debt isn’t as bad as it sounds. Because there are more and more people searching for help with their debt, debt settlement companies have increased in numbers. These companies offer services from debt counseling to credit card debt consolidation and elimination.