How to Pay off Credit Card Debt

How to Pay off Credit Card Debt

If you are struggling to pay off your credit card bill, you are not alone. Credit card balances grew (opens in new tab) 13% over the past year, the fastest yearly growth since 2002. And inflation paired with higher interest rates may further complicate your efforts to avoid credit card debt.

After years of pandemic-related restrictions, it’s easy to understand the urge to spend more on experiences and make up for lost time. Some of us pay our credit cards in full every month and never carry a balance. However, that’s not the case for everyone, especially millennials and older adults (opens in new tab). If you’re carrying credit card debt (opens in new tab)consider these strategies to eliminate or reduce what you owe—before it’s too late.

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