I have a credit card debt, whats the best way of reducing payments ?

[Ann.88]

I have a credit card debt of £3,500 whats the best way of reducing payments

[Lisa Thomas]

Hi Ann - is this the only creditor you have?

If so contact them and explain you're financially struggling and see if they will freeze interest and let you pay what you can afford.

[Michael Peoples]

You could also consider a balance transfer which would allow you to reduce the capital with little or no interest.

[MrsR]

I would pay the minimum payments, and then pay extra on top to reduce the balance, as the minimum payment will mostly be made up of interest.

It is also worth asking the credit card company if they offer loans so you could convert it and pay it off over a set period, therefore reducing the balance each month.