What Should You Do When You’re Having Trouble Paying Credit Card Debts

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You are able to borrow money to buy things through a credit card. It offers a lot of advantages , both convenience and security.

But there’s a downside.

Things to Do when Paying Credit Card Debts

Every month, you receive a credit card bill. You can pay the least amount due and you’re fine for another month. Doing so could lead to debt.

You could also spend more than you make. The credit limit sometimes make an illusion that you have more money than you can spend. The swipe of a credit card makes parting with your money easier to do. There is no physical representation of your money disappearing, it doesn’t seem like a big deal.

So what if your credit card bills start piling up,  what should you do?

Also Read: Everything You Need To Know About Bitcoin And Blockchain


  • Do not try to pretend your debt does not exist. – Not opening bill statements and hiding them in the drawer, hiding away from debt collectors and not answering the phone, and not acknowledging that you have a credit card debt is making your situation worse. The more you delay dealing with it, the more the interest piles up, and the more money you’ll need to pay.
  • Don’t get yourself in more debt – If you’re already in debt, the last thing you should do is get yourself into more debt. Leave the credit card at home if you have the habit of overspending. Thrive for owning only 1 credit card. Doing so would make managing your finances easier. Do not rely on the credit limit, instead assign your own spending limit aligned with your monthly budget. Or much better option is to cease using your credit card use until you’ve settled all your debts.



  • Have the habit of paying the whole bill every month, not just the minimum needed. – But if you have debts in multiple cards, focus on paying one card with the highest interest first and making minimum payments for your other cards. Any extra money would be used for the card with the next highest interest rate.
  • Negotiate with your credit card provider. Inform them of your situation. Doing so, the company will send you a letter suggesting how you could pay off your debt. The credit card provider want to negotiate instead of getting totally ghosted. You could also ask your creditors for lower interest rates.This is only possible if you have a credit score of 730 above, and you make payments on time for a very long time.
  • Try doing a balance transfer. – You could transfer your current debts to another card with lower interest rates. It may not solve your problem but it will make paying your credit card debt a little easier. It helps you save more money especially with zero percent or low-rate offers. But once you transfer the balance, close the account of the other credit card immediately. You might be tempted to use both cards and end up with two debts.
  • Use a personal loan to pay for your credit card debts. – All your credit card debts would be paid in full while the balance is transferred to one place. Ideally the personal cash loan you use to consolidate your credit card debts is 20 to 30 percent lower in interest than most credit cards. It  would save you hundreds of dollars.
  • Increase your income, lower your expenses. – You can increase your income by asking for a raise, switching jobs or having a side hustle or freelance business. But most  importantly, do not upgrade your lifestyle in line with your new salary. If possible, lower the expenses. In this way, you could have a lot of spare money, and you can use it to pay off your debts.
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I'm a strong believer of happiness. Loves to share ideas about travel, gadgets and tech, business and finance.

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