What is this world coming to? If you are like me, you have troubles with credit cards. You have one from every department store you shop at, at least one gas card, and likely a general MasterCard, Visa, American Express, or Discover card, not to mention others. Nevertheless, of course, that is only if you are like me and if you are reading this article, you are. We are not alone, not at all, in America alone 60% of citizens are just like us. We are overrun by credit and payments, sometimes to the point that we simply have lost all control. We want to eliminate credit card debt.

Here is what I did and you can do it too, it works, and will make life a whole lot easier to deal with, virtually credit card debt free. Now to eliminate credit debt, you should know it is not easy, nor is it very fast, it will take time, a lot of effort, and much determination to get the job done.

Ok, here we go. The first step to eliminate credit card debt is to sit down at your desk, table, on your couch, or wherever you can get comfortable, and make a list. The list should contain every single credit card you posses. That is right, take each one out of your wallet, and write the name down. Then rifle through your bills and find the bill for each card, you also want to find your agreement for each card.

Ok, so now that you have those, phew took a while huh? For each card, write down your minimum payment requirement, the percentage set for minimum payments (usually 2% to 2.5% of the total balance), the rate of interest, and the current balance. In other words, it might look something like this:

Choice Privileges Visa Card $1,500 12% 2.5% $75

You do this for each card. Once you have listed every card, along with all of the required numbers, rework your list, and list them in order from highest to lowest, in terms of rates of interest. Then you want to add up everything listed in the minimum payments column. You will then know how much you have to pay every month and decide how much you can add to that amount in order to pay more than the minimum. You may need to create a budget and cut some expenses in order to manage this, if you have high amounts of payments.

Now, once you have decided on how much you can pay in addition to the minimum payment, you want to apply this credit card that carries the highest rate of interest. Once you eliminate credit card debt on that card, cancel it, or cut it up, and move on to the next one down. You keep taking that additional amount and adding it to the minimum payment until you eliminate credit card debt on every card on your list.

Finally, choose one card, and eliminate the rest. The fewer cards you have, the less payments, and the more manageable your finances become.