If you’re struggling to clear your credit card bills, you’re not alone. With an increasing number of people facing credit card debt, it becomes more important than ever to know how to manage it. This article discusses five simple ways to pay off credit card debts:

• Get a debt consolidation loan
  A form of personal loan, the debt consolidation loan lets you combine your credit card debts into a single payment system. If you’re struggling to pay back credit card loans, it is essential to find lenders who provide lower interest rates and longer loan repayment terms. Sometimes, a debt consolidation loan also lowers the total monthly amount you have to pay. If you opt for this, you are recommended to cut up your other credit cards to prevent further debt accumulation.
• Transfer your credit card balance to a zero-interest card
  One of the easy ways to repay your credit card debt is to transfer the balance into a single low- or zero-interest rate credit card. It’s advised to shop around before you settle on a credit card, as you might find one that allows zero interest rate for up to 12 months and charges a high rate afterward. Also, ensure that there are no additional fees, and if there are, ensure that they cost you less than the savings you would have made because of the zero interest. Do not forget to look for extended promotional terms too.
• Consolidate your debt into the mortgage
  If you own a home, you can consolidate your credit card debt into the mortgage, which is one of the easiest ways to clear credit card debt. However, it is essential to set up a budget to help you with savings. Using your home to borrow money can leave your resources depleted in your golden years. It’s advisable to consult experts other than your lender for more details about consolidating your debt into the mortgage.
• Use the snowball method
  One of the most popular debt repayment strategies, the snowball method urges you to clear off the credit card with the lowest amount due first. For instance, if you have a debt of $10,000 on one card and $2,000 on another, you should clear the $2000 debt first. The monthly amount saved from paying off the smallest debt can go toward repaying other small debts or snowball into a larger amount to pay off the bigger debts. Some experts, however, caution against using this method, as the longer you have a large debt, the more interest it will accumulate.
• Plan, save, and pay
  Formulate a monthly spending plan for yourself to avoid racking up huge credit card bills again. It is also a good idea to review your monthly expenses and trim back costs wherever possible. If you have a savings account, consider using it to pay off your debts. The amount saved by clearing your debt quickly can sometimes be more than the interest you earn from keeping the money in a savings account.