How to pay off credit card debt (step by step)

Step 1: Get everything on one page

Write down every card: balance, interest rate, minimum payment, statement date. Most people underestimate the total by a wide margin until they see it listed.

Step 2: Rank by interest rate

Paying the highest rate first costs you the least overall. Paying the smallest balance first gives you a quicker win. Both work; pick the one you will stick with, and check the difference in the debt payoff calculator.

Step 3: Pay minimums everywhere, extra on one

Splitting spare money across every card feels productive and is slow. Concentrate the extra on your target card, then roll that payment onto the next one when it clears.

Step 4: Stop the balance refilling

Move the card out of your wallet and out of saved payment details. If the card is funding a real gap in your budget, that gap is the actual problem — fix it with a zero-based budget.

Why minimum payments are so expensive

A minimum payment is designed to keep the balance alive. Most of the early payment is interest. Even a modest fixed overpayment each month can cut years off the term — the calculator shows your specific numbers.

Balance transfers, used properly

A 0% transfer only helps if you (a) pay the fee knowingly, (b) clear the balance before the promo ends, and (c) do not spend on the new card. Divide the balance by the promo months — that is your required payment.

Track it so it stays real

MoneyQuilt tracks each card's balance, rate and utilisation, logs payments, and shows your projected debt-free date as you go.