Credit card debts are probably the worst debt you can carry, if not the worst. The interest rates on these cards are usually sky high to begin with. Oftentimes, they will lure customers into signing up for one of their cards by offering promotional low APR. Since these cards charge the highest interest rates on the money borrowed, I would recommend paying down this particular debt as soon as it is possible. I would make it the number one priority in your debt reduction plan and free yourself from debt bondage.

If you carry a balance on more than one credit card, I would consolidate debt by transferring all of the balance to a credit card that offers 0% APR on balance transfers. Although you may need to pay a nominal percentage fee on the balance transferred amount, it is by far the best option to reducing your debt.

In one of my previous entries, I mentioned that a friend was able to become debt free after incurring over $10,000 in total debt. Most of the debt was in credit card and one method he used was signing up for a 0% balance transfer credit card. He then had 12-24 months (depending on the promotion) to pay off the balance, interest free!