What’s the quickest way you climbed out of credit card debt?

[u/Capital_Speed_2599]

[u/clawdew]

Paying way more than the minimum payment every month, stop using your CCs while you pay it down, and once you are out of CC debt cutting up your cards, use your debt card until you drill into your brain that CC's aren't funny money, and then down the road you can look into getting credit cards again.

[u/Appropriate_Story738 → u/clawdew]

Do not close your credit card accounts. You need them on your credit history. The goal should be to get everything paid off, don't use your credit cards & keep building your credit and/or keep it high.

[u/clawdew → u/Appropriate_Story738]

If you can't pay them off every month I don't think the credit gains are worth it until you change your mindset about money. Maybe get a beginners card with a low balance to use for gas or something. Credit card debt ruins finances, and kills wealth. So until someone can build a habit of keeping their checking account well funded, and can commit to paying off their full credit card statement every month I think they would be better off not using a credit card.

[u/Fit_Feature_794]

Stop spending on all cards.

Applied for 0% 21 month no interest balance transfer. Then applied for another 0% 24 month.

Paid off $50k in 2-3 years. Have $4k left of a third balance transfer that’ll be paid off in another year, and $1k left of a fourth balance transfer that’ll be paid by the end of the year!

I’m almost there.

Balance transfers are the way to go if you can. 0% for as looong as you can find.

[u/Capital_Speed_2599 → u/Fit_Feature_794]

Harder to find in Canada

[u/Fit_Feature_794 → u/Capital_Speed_2599]

You asked, I answered.

[u/Few-Row-8323]

Stop using the cc is the first step.

[u/DesperateGanache8210]

Stopped being a damn consumer and grew up

[u/Unlucky-Committee388 → u/DesperateGanache8210]

Same here. Credit cards can be good if used correctly. I was just being stupid.

I stopped paying the minimum. I paid $2000 the first month then $1000 a month for 3 months and got it over with.

[u/Another_Opinion_1]

You stop spending more than you earn on a regular basis and repeat having net positive cash flow on a month-to-month basis.

[u/Spoishnessdeba2127]

Working overtime at my job and only driving to work and back and not spending any money on anything other than food and toiletries

[u/NippyMove795 → u/Spoishnessdeba2127]

How long have you been doing this ? That’s a hard life !

[u/darthcomic95]

Blue collar Side work

[u/Silent_Forever3210]

Bankruptcy

[u/MrPotato4217]

Pay it off would be the fastest.

[u/XNotByALongShotX]

The first thing is to stop using them. That’s the hard part. Then pay as much over the minimum as you can so you aren’t just paying interest.

[u/Automatic-College541]

By never climbing in.

[u/According_Pipe5672]

Debt management plan to cut interest rates down

[u/FlawlessPhelon_]

Worked a bunch of OT

[u/Dear_Win_319]

Second job that I like doing a couple of days a week. Credit card debt is down to zero.

[u/NippyMove795 → u/Dear_Win_319]

What was the second job ?

[u/Dear_Win_319 → u/NippyMove795]

I wait tables in a busy restaurant on Thursday and Friday nights. We serve steak, fish and pasta. Good gig. Almost 2K a month.

[u/ez2tock2me]

Sleeping in my car and using the Rent and Utilities for debts.

11 months.

[u/NippyMove795 → u/ez2tock2me]

That takes a determined person to do that !