Why Credit Card Debt Is So Brutal
Credit cards charge insane interest rates. We're talking 19-29% APR on average. That's not a typo.
If you owe £5,000 and only make minimum payments? You'll be paying for 20+ years and rack up thousands in interest. The banks love it. You won't.
But here's the good news: with the right strategy, you can knock this out way faster than you think. Let's get into it.
Your Step-by-Step Game Plan
Write Down Everything You Owe
Seriously, grab a pen. List every credit card, the balance, the interest rate, and the minimum payment. Facing the reality sucks, but you can't fix what you don't measure.
Pro tip: Check your most recent statements. The numbers might be worse than you remember. That's normal.
Stop Using Your Cards
This is the hardest part for most people. Cut them up, freeze them in ice, hide them—whatever it takes. You can't dig yourself out if you keep digging.
Exception: Keep one card for absolute emergencies. But "emergency" means your car breaks down, not "I really want those trainers."
Pick Your Attack Strategy
You've got two main options: avalanche (pay off highest interest rate first) or snowball (pay off smallest balance first). Both work. Pick the one that fits your personality.
We'll dig into the pros and cons of each below. Spoiler: avalanche saves more money, snowball feels better psychologically.
Find Extra Money
Look at your spending. Coffee, takeaway, subscriptions you forgot about—it adds up. Even an extra £100/month makes a massive difference over time.
Sell stuff you don't use. Pick up a side gig. Work overtime. Whatever it takes. This is temporary pain for long-term freedom.
Attack One Card While Paying Minimums on Others
This is where your strategy kicks in. Make minimum payments on everything except your target card. Throw all extra money at that one until it's dead.
When that card hits zero, take everything you were paying on it and roll it into the next card. This creates momentum—hence the "snowball" name.
Track Your Progress
Use our credit card payoff calculator to see your payoff date and total interest saved. Check it monthly. Watching the numbers drop is addictive in the best way.
Celebrate milestones. Paid off a card? Take yourself out for a nice (reasonably priced) dinner. You earned it.
Avalanche vs. Snowball: Which One?
💸 Debt Avalanche (Highest Interest First)
Pay off the card with the highest interest rate first, regardless of balance. Mathematically optimal—saves the most money in interest.
Best for: People who are motivated by numbers and want to minimize total cost. If you're disciplined and don't need quick wins, this is your move.
⛄ Debt Snowball (Smallest Balance First)
Pay off the smallest balance first, regardless of interest rate. You get quick wins that keep you motivated. Less mathematically efficient but psychologically powerful.
Best for: People who need motivation and momentum. If you've tried and failed before, the psychological boost of eliminating cards quickly can be game-changing.
My Take:
Avalanche saves more money. Snowball keeps you going. If the interest rates are similar (within 2-3%), go snowball. If one card is 24% and another is 15%, go avalanche. Or mix them—knock out one small card for the win, then switch to highest interest.
How Long Will This Actually Take?
Depends on three things: how much you owe, your interest rates, and how much you can pay monthly.
Real Example:
- • Total debt: £8,000 across 3 cards
- • Average interest: 22%
- • Minimum payments: £200/month total
- • Time to payoff (minimums only): 17 years, £12,000 in interest
Now Watch This:
- • Pay £400/month instead: 2 years, £1,800 in interest
- • Pay £600/month: 16 months, £1,100 in interest
That's why throwing extra money at this is so powerful. Every extra pound cuts months off your timeline and saves hundreds in interest.
Questions Everyone Asks
Should I use a balance transfer card?
If you can get 0% for 12-18 months and you have the discipline not to rack up more debt, yes. It buys you breathing room. But read the fine print—there's usually a 3-5% transfer fee, and the rate skyrockets after the promo ends.
What about debt consolidation loans?
Can be smart if you get a lower interest rate than your cards (usually 8-15%). You simplify to one payment and potentially save on interest. Just make sure the math actually works out and you're not just spreading the pain over more years.
Should I dip into savings to pay off cards?
Keep at least £1,000 for emergencies. After that? If your cards are charging 24% and your savings earn 1%, the math says pay off the cards. But don't drain everything—you need a small cushion or you'll just rack up more debt when life happens.
Your Action Plan for This Week
- ✓List all your credit card debts with balances and interest rates
- ✓Choose avalanche or snowball strategy
- ✓Find £50-100 in your budget to add to payments
- ✓Use the calculator to see your payoff date
- ✓Set up automatic payments so you never miss one
- ✓Put your cards somewhere you can't easily reach them
Tools to Help You Get Debt-Free
Ready to See Your Payoff Date?
Use our free credit card payoff calculator right now. Enter your debts and see exactly when you'll be free—and how much you'll save by paying extra each month.
Calculate My Payoff Date →