Credit card companies will work with credit counselors to ensure your credit card bill is paid. The truth is, though, they’d rather work with you. Even if you are not experiencing financial difficulties you can negotiate for a lower interest rate and reduced minimum payment. The best way to achieve this is to pay your bill on time and if possible to pay more than the minimum due. Most experts recommend you pay two to three percent of the balance due on top of the minimum payment. Other experts feel that making a double payment is sufficient.

Whichever method you choose, if you are seeking to reduce your debt, start with the lowest balance due and pay that card off. Once you’ve done that put the card away and don’t use it. Do not cancel the card. Then move on to the next card. Remember to keep all of your cards current. Most people don’t run into trouble until they start having to pay late fees and often a late fee is sufficient to cause a card to go over limit. Once that happens, you can easily find yourself in a vicious cycle of paying late and over limit fees.

A good financial manager or accountant can help you set up a payment schedule that pays your bills without straining your resources. Repaying your credit cards and limiting your spending is an excellent way to improve and maintain your credit score. Once you have an excellent credit rating, banks will apply lower interest rates on your loans. That’s all to the good for you.

Once you’ve repaid your credit cards, it’s easy to start using them again. Try not to do that. By maintaining a steady low balance, you show your creditors you are a stable and reliable risk.