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How to Pay Off Credit Card Debt Easily

4 min read
Last Updated: May 30, 2025
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Key Takeaways

  1. You can use a balance transfer credit card to pay off higher-interest debt.

  2. Another option for paying off a credit card is a personal or home equity loan.

  3. Factor in the interest rate of your debt when deciding whether to pay off credit card debt fast or gradually.

Quickly paying off credit card debt can save you money on interest. Even if you’re on a lean budget, there are ways to pay off your credit card when you don’t have the cash on hand.

What’s the best way to pay off credit card debt fast?

Transfer high-interest debt to a low intro APR credit card

You’ll benefit the most from a balance transfer if you can pay off the entire balance before the intro offer ends. Once the intro annual percentage rate (APR) offer ends, the standard APR applies.

 

To complete a balance transfer, most credit card issuers charge a balance transfer fee, which is a percentage of the amount you’re transferring. Balance transfer fees range between 3%–5%.

Before making the decision to transfer debt to a balance transfer card, you’ll want to do a few things.

 

  • Find out the balance transfer fee
  • Review your finances
  • Determine whether you can pay off your balance within the introductory period

A balance transfer credit card with a low introductory APR could offer some debt relief if managed responsibly. During the intro period you might have smaller payments because your balance isn’t accruing as much interest.

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Pay off your credit card with a loan

Do you have a good credit history and credit score? If so, you might consider paying off credit card debt with a personal loan. If you’re a homeowner, you might also qualify for a home equity loan to pay off your credit card.

Both are personal loans and home equity loans are installment loans. This means you’ll receive a lump sum and need to make monthly payments until you've repaid the loan. This amount will include any interest it has accrued. But, covering one monthly payment with a fixed interest rate may be easier than paying each individual credit card bill.

If your new loan has a lower interest rate than your credit card debt, it can save you money in interest. Make sure to calculate any fees and interest from the new loan and see how it stacks up against what you’re paying on your credit card.

 

A longer repayment period usually means smaller monthly payments. But if you lengthen your loan term, you might end up paying more in interest. It’s important to make sure you don’t accumulate more debt if you choose to pay off your credit card with a personal or home equity loan. It’s also a good idea to stop using your credit cards during this time so that you don’t add more debt.

Do you always need to pay off credit card debt aggressively?

Paying down debt aggressively can reduce the amount of interest that will add to your account. Every situation is different. Because of this, consider the terms of your account, the interest rate you’re paying, and other financial goals. If you’re also looking at building an emergency fund or saving for a wedding or a down payment on a home, you’ll want to take this into account.

You may also consider a few debt repayment budgeting strategies to help you tackle credit card debt over time.

Debt avalanche method: Pay off your highest-interest-rate debt first. Once that’s paid, you move to the next highest-interest debt, and so on.

 

Debt snowball method: Pay your smallest debt first. Then pay your next smallest debt, and so on.

In both strategies, it's important to continue making your minimum payment across all credit card bills. Each late fee sets you back on your debt repayment goals.

Did you know?

If debt has hurt your credit score and you want to develop healthier habits, the Discover it® Secured Credit Card helps you build/rebuild your credit history with responsible use.1 You secure the card with a deposit, making it easier to qualify with bad credit.

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Other debt relief options

You don't have to face your debt alone.

 

  • Your bank or credit union may offer credit counseling
  • A credit counselor may help you find the best tools for managing your credit card debt
  • A debt relief company may help with a debt settlement
  • Your credit card company might offer payment options

The bottom line

Knowing your options for how to pay off credit card debt can help you make an informed decision. The quicker you can tackle your debt, the more you’ll save in interest. From loans to balance transfer credit cards, the best method for you will depend on your goals, income, and credit score.

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