Lock Up Credit Cards

• Credit card debt will not disappear unless you get a handle on your spending. Using credit to buy items that you don't need will keep you knee deep in debt. Start anew by placing your credit cards in a safe or locked location. Keeping credit cards in your wallet or within easy reach increases the temptation to spend while you attempt to lower the debt.
  
  

Spend Less

• While using less credit is key to getting rid of consumer debt, reducing your spending overall is another good method to help pay down balances. Regardless of whether you use cash or plastic, cut back on eating out. Carry lunches to work and prepare meals at home to save money. Other areas to cut back include entertainment and recreation. There's nothing wrong with a little enjoyment or pleasure, but if you spend an exorbitant amount on money entertaining yourself, it's time to make a change. Use this money instead to pay down balances.
  
  

Higher Payments

• Minimum payments do not reduce high credit card balances fast. To eliminate consumer debt and pay less interest on your credit card debt, start with higher monthly payments. Ideally, it's good to drop a lump sum on your debt each month. For example, $100 a month can pay off a $500 debt in five months as opposed to 24 months with $20 minimum payments.
  
  

Employment Options

• Extra income is a big factor in whether you can pay off consumer credit card debt fast. And if you do not have extra income, this factor may play a role in debt because you use plastic to compensate for cash flow issues. Fixing cash issues can open the door to debt elimination. This may call for re-thinking employment and looking for new opportunities. Increasing hours and moving to full-time work, or taking a new job on the weekends or at night can provide the needed cash to bring down consumer debt.
  
  

Ask for a Better Rate on the Credit Card

• Review your credit card statement and look for the interest rate. High interest rates can slow down the debt elimination process because monthly payments are split between the principal balance and the interest charges. A lower rate reduces the interest you have to pay each month. Pay less interest and you're able to reduce your principal balance sooner. Contact your credit card company and ask a representative or accounts supervisor for a reduced interest rate. This method can work if you have a good payment history. If denied, look into low-rate balance transfer credit card offers to move your balance to a new credit card.