Debt in itself is scary, but credit card debt is worse because you don't really get any benefit out of it like you would with a house or a car. That's also not including the APR, interest rate, or the annual fees some cards have.
You need help paying off your card because you keep spending money you don't have? Its okay because I have managed to reduce my $700 debt (all from textbooks) to $250 in under a year and I'm here to help you! Companies prey on young students and tell you to get a card to pay off whatever you need, but DON'T! If you are already in debt, here are some tips that helped me out.
1. Know how much you owe
Don't be Nick Miller when it comes to debt and who you owe money to because they'll sometimes charge extra and you won't catch it. Face the cold hard truth: you spent this money and now you need to pay it back.
2. Pay the one with the highest balance
Debt piles up, especially with an interest rate of 19.82%, so pick the card that has the highest balance and tackle that first. That $5 pizza you bought with the card may actually cost you $20 with interest, and that's just not worth it.
3. Send more than the minimum
Let's say that you have an extra $20 for the month. Instead of spending it on a night out or a movie, send it to the credit card company. Yes, that's $20 dollars you could use to have fun, but the goal is to get rid of all the debt.
4. BUDGET!
Yes, you won't be able to go out as much on Friday's and groceries will be the bare minimum, but you'll feel this big sense of relief when you pay off that card.
5. Stop using the card you're paying
Cut the card or burn it, but stop using it because you can send payments every month but still use it, and that's just a vicious cycle you'll feel you'll never escape.
6. Call credit card lenders
Some credit card companies may offer an extension, reduction, or some other discount if you mention you're a student. The worse they can say is no, so go forth and try to reduce your debt!
7. Be free of all debt
*breaks into "Hava Nagila"* You paid off your credit card debt, and now you can tackle all your other debts!
