Credit Cards Debt

4 Credit Card Payment Methods to Help You Pay Off Debt

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Struggling with credit card debt? If so, you’d probably like to start paying it down so you can relieve some of the pressure on your financial situation. But is it as simple as just paying the minimum amount every month? 

There are a few strategies to consider, and each has its own pros and cons. Whether you are looking for help with credit card debt, such as a personal line of credit, or you want to do it yourself through different payment methods, here are a few options to consider.


The avalanche method is simple. Pay off your highest-APR credit card first. Why? As you pay it down, the interest you accrue each month will also decrease. This means there’s less of a balance to accrue interest and could help you save money in the long run. While doing this, you make only the minimum payments on your other credit cards. 

Once you pay off the highest-APR card, go to the next one. This can save you time and money in the long run, achieving credit card debt payoff while paying less in accrued interest overall. This method requires a ton of discipline, however, and it might take months before you see any significant results. If you need a quick win to keep you motivated, this might not be the best method for you. 


The snowball method is nearly the exact opposite approach of the avalanche method. You start aggressively paying down the credit card with the lowest balance while paying the minimum on the rest of your cards. 

For example, instead of paying more to your $5,000 balance, you focus all of your efforts on the card with a balance of $400. In just a few months or even weeks, you could achieve credit card debt payoff and can move on to the next balance. Use the money you would have paid monthly for that account and add it to what you already pay the next account. 

As you pay off each card, you can keep adding to how much you pay each month to the lowest card, hence the snowball name. Keep in mind that while you pay off the first cards, your large balance will still accrue interest, and this can be significant in the long run. 


Consolidation is where a third party pays off your credit cards, closes your accounts, and you pay the company back. While this can seem like an easy, streamlined solution, there are some potential issues. 

Because your accounts are closed, it can potentially impact your credit score since your credit history has been cut short. You won’t benefit as much from the length of time your cards have been open. You also won’t have access to those cards any longer. While this might save you money in the long run, traditional consolidation has its downsides. 

Personal Line of Credit

Another way to consolidate your credit card balances is with a personal line of credit. A third party provides a line of credit you use to pay off your credit card balances, and you pay back the line of credit, hopefully at a lower APR than your cards. The benefit of this method over traditional consolidation is that your cards remain open. They remain a positive factor in your credit history. You might also find the third party offers credit card management options, as well, to help you stay on top of your balances while you pay down your credit card debt. 

About Tally

There’s more to life than worrying about your high credit card balances. Tally can help with credit card debt and get to the credit card payoff finish line. If eligible, Tally will extend a line of credit you then use to pay off your credit card balances. After that, you only need to make one easy monthly payment to Tally, and you’ll be well on your way to achieving credit card debt payoff. The app offers other resources, as well, such as a credit card interest calculator, so you can understand the true cost of your credit card debt. Getting started is easy, and you can check your eligibility in minutes. Take the first step to paying off your credit card debt with Tally today.

Learn more about how to pay down credit card debt at

Disclosures: Lines of credit issued by Cross River Bank, Member FDIC, or by Tally Technologies, Inc. (“Tally”), NMLS #1492782 (; see your line of credit agreement. Lines of credit not available in all states.

†To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. Based on your credit history, the APR (which is the same as your interest rate) will be between 7.90% – 29.99% per year. The APR will vary with the market based on the Prime Rate. Annual fees range from $0 – $300.

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