What's the best way to pay off credit card debt?

WCCO's Kirsten Mitchell spoke with financial experts to find out the best ways to eliminate credit card, medical, and/or student debt.

[UHNWI]

Legislation needs to be enacted to force banks to lower their interest rates so they’re not at the predatory levels they currently are. If the current administration is erasing student loan and Covid business loans, just to name a few. They need to look into writing off credit card debt for our citizens too. It’s not as if the banking industry hasn’t received federal loans when they were hurting and now that the economy is flush for certain sectors, banks are BANKING billions in profits of their customers by gouging them with fees and high interest rates.

[robh]

Get a high paying job reading words off of a teleprompter.

[musicmanenator]

Only buy what you need. NOT what you want. Follow your budget to a T and dont give in to temptations.

[vman]

Manage your money better. Cigarettes, liquor, restaurants, fancy clothing, and shoes are not necessities . Pay your bills, or dont make bad choices.

[AuntieDan]

Marry well, have a very rich relative who loved you very much pass away, or win the lottery

[markochu]

This was not a very helpful story. The best way to get out of credit card debt is to find a credit card that offers 0% interest for 18 mos and a 0% transfer fee. Consolidate all your debt to the interest free card. Then at the end of 18 mos, if you haven't paid off the debt, do it again. It's possible to carry over more than 10K of credit card debt for years and never pay a cent of interest. Slowly pay down the principle, never miss a payment, and NEVER pay interest. That's how to get out of credit card debt.