When you are in over your head with credit card debt, relief can seem miles away. Sometimes it seems like you are working as hard as you can to make the minimum payments or even to just barely cover the interest on your balances.If you want to get out of the cycle of credit card debt follow these 3 easy steps and you will be on your way to financial freedom.

1. Switch to a lower rate card.

If you can switch your balance from a higher rate card to a lower rate card, you can save quite a bit of money. Even a card with a 5% lower interest rate will make a difference on the amount you owe on your monthly credit card statement. Take the money you save and apply it to the balance to reduce your debt even faster.

2. Pay on the principle.

It is very easy to fall into the trap of just paying the minimum payment on your credit card statement, but if you make a practice of this, you will never get out of debt. The only way to eliminate credit card debt is to plunge in and pay it off. The more you pay on the principle the less you will be paying in interest, and you will start to see a difference in the amount of money you are being billed each month.

3. Don’t add to your debt.

Make it a rule that the credit cards are only used for special or emergency purchases. Stop buying things like groceries or clothes using your credit card. Chances are if you are going to put an item on the card, you will often end up buying things you hadn’t planned to buy. These impulse buys may be convenient, but they add up, and you will be paying for them long after their usefulness is gone.

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