PHOENIX, Ariz. — Finding ways to wipe out credit card debt can be stressful and the first step is coming up with a plan for how you're going to pay it off.
Kimberly Palmer with NerdWallet says it all starts with your card's interest rate. She says right now that can average between 17 and 18 percent.
She says talking with your credit card company about lowering your rate could help.
"If you have had the card for a long time, and it's in good standing - so, you've been making regular monthly payments each month - there's a pretty good change of having them say yes" said Kimberly.
She says no matter what make sure you are paying the minimum monthly payment. If you can, pay more. The extra goes toward principal - meaning you'll pay less in interest.
Kimberly also says to check out better offers. Many cards off a low or even zero percent balance transfer interest rate for the first few months. If you decide to do this, Kimberly says to make sure you pay off the debt in that introductory period before the interest rate goes up.
In the end, Kimberly says to make sure you know yourself before getting a new card. Ask yourself if it will help you manage your debt or make you spend more.