Cut up the cards, put them in a locked drawer, bury them in the back yard. This way, you won't be adding to your pile while you're paying it down. Use a debit card instead. A debit card is like a credit card, except that it deducts the amount of your purchase from your checking or savings account immediately. Check your account balance frequently to make sure you still have cash, but that will keep your spending under control.
Transfer balances to a lower-interest card .
You probably receive offers for cards with low introductory interest rates. You can reduce interest payments by transferring balances to low-interest cards. But repeated transfers may hurt your credit rating. Consolidate with a home equity loan . Our calculator can help you determine if consolidation makes sense for you.