There are a few ways to pay off a credit card.

The first thing to do is stop using the credit card you want to pay off. This means the amount you owe stops growing, making it quicker to repay.

1. Making a budget

Find out if you can make savings anywhere. This will:

• Free up money to increase your credit card repayments
• Lower the amount of interest added

2. Transfer the balance

Find a zero percent interest credit card and make regular payments to pay this off.

3. Take out a consolidation loan

Only do this if you can afford the repayments.

It can be hard to find an affordable loan if you have a bad credit history.

Get free advice if you are struggling with credit card payments and other regular bills.

It depends on what you can afford to do.

Paying off your credit card in full can save you money in interest and charges.

But this is not a good option if you would need to:

• Take out more credit, or
• Make big cutbacks on your monthly spending

It might be better for you to pay off your credit card over time if:

• You have a bad credit score
• This means new credit has higher interest rates for you
• You have to stop paying priority bills to afford paying it off at once