How to Reduce Credit Card Payments and Debt

By Melissa Hincha-Ownb

Reducing credit card debt is usually a consumer's first step towards financial freedom. Credit card companies entice consumers in with low introductory rates, cash advance checks and other gimmicky promotions. What consumers don't realize is that they are at the credit card company's mercy. That low introductory rate can quickly turn into a 30 percent annual percentage rate. By reducing your credit card debt, you will free up your finances for retirement, college and other savings venues.

Step 1: Make a list of all of your credit cards.
Start with the smallest balance on the top of the list and the largest balance on the bottom. Also write down the minimum payment that is due on the credit card at this time. Credit card minimum payments go down as the balance goes down, which increases the payoff time exponentially.

Continue reading all of Melissa's steps for reducing credit card debt at eHow.com