Always make full payment
Making more than the minimum payment due or full pay, you can reduce your overall balance and the interest charge you’re accruing.
Reducing Credit Card Spends
If your spends are affecting your pay back ability to your credit card ,then you should reduce to use your credit card.
Stop Using Your Card
If your balance is out of control you should eliminate your credit card.
Negotiate Lower Interest Rates
One of the simplest ways to reduce your monthly credit card payment a bit is to lower your interest rate. You can call your credit card company and ask them to adjust your annual percentage APR (more about lowering your interest rate here.)
Transfer Your Balance
Balance transfers are another common way to lower interest rates. Many credit cards offer introductory periods of a 0% APR for balance transfers, which gives you an interest-free timeframe to pay down your balance.
If you’ve got multiple balances, some strategic resource allocation can help you pay them down more quickly — and ultimately lower your monthly obligations. Make sure you’re making all your minimum payments on-time, but put the most money you can toward the balance with the highest interest rate. That’ll keep that balance from burgeoning and save you more dough in the long run.
Ask Your Card Issuer for a Payment Plan
If you’re in serious financial trouble, you could talk to your credit card issuer about a long-term repayment plan. That’s not going to go a long-way to lowering your credit card bill in the short-term, but it can help you avoid late fees, default and bigger money woes while you work to improve your financial health.
Credit card companies sometimes offer alternative payment plans to customers experiencing financial hardship. Keep in mind these plans will differ from company to company and may require you to close your account.
Improve Your Credit Score
Better credit usually leads to better interest rates, which can lead to lower payments. Once you’ve significantly improved your credit, you may be able to negotiate a better rate with your current credit card issuer or qualify for other cards that have better rates.
Pay Off Your Balance Each Month
Paying off your balance each month is the ideal way to use a credit card. It eliminates interest and keeps you from accruing debt. No matter your financial standing, paying off your balance in full each month should be the ultimate goal.
Consolidate Your Debt
If you find that you’re getting nowhere on your credit card debt, you can consolidate it, either by working with a company to help you negotiate with your creditors to make one lump payment each month, or by getting a loan that will allow you to pay off everything.