To repay your credit card quickly, pay more than the minimum monthly payment amount. In fact, try to pay as much as you can afford each month. The standard credit card interest rate is about 19.99% on most cards, and it compounds daily which means you are charged interest on interest. The faster you reduce your credit card balance, the faster you will pay it off and the less interest you will pay. There are two ways to pay down credit card debt: the Snowball Method and the Avalanche Method. The Avalanche Method is the most efficient form of debt repayment by saving you the most money on interest charges. Use the Hardbacon Debts Repayment Calculator (Avalanche Method) to see how quickly you’ll be out of debt and how much money you’ll save on interest.