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• Reflect on your finances. If you’re looking to tackle your credit card debt, it can be worthwhile doing some self-reflection and examining your finances first.
• Make multiple payments throughout the month. You don’t have to wait till the end of your credit card’s monthly billing cycle or for your statement to arrive in the mail to make a payment.
• Use the debt avalanche method. If you’re juggling debt on multiple credit cards and loans, it can be tough to decide which to tackle first. Enter the debt avalanche method.
• Consolidate your debt onto a balance transfer credit card. One of the best ways to access lower interest rates is by signing up for a balance transfer credit card and consolidating your debt.
• Ask for a lower interest rate from your credit card issuer. In the wake of COVID-19, many banks are offering temporary credit card payment deferral programs along with reductions in interest rates.
• Automate payments to your credit card. Setting up recurring automatic payments from your chequing account to your credit card is a low effort way to guarantee you’re consistently paying down your debt and lowering your interest charges without having to think about manually making payments.
• Get a low interest credit card. While it’s always recommended you avoid carrying a balance, if you anticipate you’ll need to continue using a credit card for daily purchases to tie you over during a cash crunch, it’s best to use a low interest credit card.
• Use cash more often. Reducing your credit card interest payments is important, but so is recognizing how you got into debt in the first place. In some situations (not all), it has to do with overspending.

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