How do you reduce credit card debt? It can be rather tricky, but it's certainly worth the effort. In today's sagging economy, many people have found that they must reduce their credit card debt just to survive. Thankfully, this is something that you can tackle, without too terribly much difficulty. In fact, there are now more options available to you than ever before. What have you got to lose, other than large bills that you cannot afford to pay.

Reduce credit card debt by paying off a little extra on your bills each month. Okay, okay, I know this one is obvious, but it's also something that many of us tend to ignore. When making out your monthly payments, try to put down as much as you can, while still keeping enough money aside for all of your basic living expenses.

Another trick you can try, to reduce credit card debt, is something that's often called snowball payments. Basically, you pay off a small bill that you're making monthly payments on. It's generally best to start with one that has a relatively small balance, so you can pay if quicker. After you've paid off the balance, roll the money into the next smallest account balance. So, if you pay off a loan with a payment of $100 per month, you would simply add the $100 to the next account. This would then snowball over the course of time, allowing you to reduce your credit card debt. In addition, you could explore a credit card debt settlement to reduce your balances.

Some people may need to consider credit card debt consolidation. This method will allow you to put all of your accounts in one. The basic benefit is a decrease in interest (in most cases), and a clearer picture of where you're at each month. A consolidation loan can help out many people, even if their FICO score isn't up to par. You can find bad credit loans for unemployed people and those working.

It is possible to do a form of consolidation on your own. Reduce credit card debt by placing most of your accounts into the one with the lowest interest rate. This will save you money, and allow you to decrease your balance much quicker. This is generally only effective if you have an account with a large limit, at a low interest rate.

If you're in really bad shape, you may want to consider consumer credit counseling pros and cons to reduce your card debt. This is still a repayment plan, but with reduced fees and interest rates. You essentially make one payment to the counselor, and they spread the money out to the separate accounts. It would be advisable to use a nonprofit service, as the fees are generally much less. Keep in mind that even though the service is not for profit, there are some minimal costs associated with this type of relief. In general, the benefits will outweigh the drawbacks.

Believe it or not, a personal loan or home equity loan may be a very viable option to reduce credit card debt. This is simply because the interest rates are so much more reasonable, allowing you to pay off the balances much faster. There are many online sources available, generally offering a lower rate than local banks. Even if you have a poor FICO score, this may be a viable option to reduce credit card debt.

The last thing you should do is stop charging more to these accounts. Only charge when necessary, or you'll never get your balances down to a more manageable amount. You can also explore other avenues, like the popular system - Transforming Debt Into Wealth.