Credit cards are common among people today. Though some people use them sensibly, many struggle to use their credit cards properly and get into debt. One of the main reasons why people struggle with their credit cards is that they take multiple credit cards. More credit cards mean more credit options, so they start purchasing things impulsively - slowly getting into credit card debt. If you are one of them struggling to come out of multiple credit card debt, here are some steps that will help you.

Step #1: Keep up your repayments
The more you owe on your credit cards, the higher is the interest that you need to pay. If you miss on repayment, the interest on your credit card will increase and you may end up paying higher interest. Try to pay off your credit card bills on time. If you don't pay them on time, it may lead to unmanageable debt.

Instead of paying ‘minimum payment’, try to pay more as much as you can so that you can close the account as soon as possible. Banks generally offer you to pay minimum amount every month. If you pay this, they will not call you and bother you. But by paying minimum amount, you are not solving the problem as it just covers the interest rate and the principle amount will remain the same.

Step #2: Pay off highest interest credit card
It you have multiple cards, it is advisable to pay off credit cards that have high interest rate, rather than clearing the ones that have low interest rate cards. Because if you don't pay off the high interest rate quickly then you will be increasing the amount of debt you owe.

Step #3: Close your credit cards as soon as possible
As you clear the debt on each of your credit card, start closing your credit card accounts by contacting your credit card provider. It is always better to cancel your cards instead of just cutting them. Because you need to pay some fees even if you are no longer using the card. Closing multiple credit cards helps you destroy your temptation of using them.

Step #4: Use your last credit card properly
Once you pay off your multiple credit card debt, use only a single credit card for emergencies or online payments. Try to avoid unnecessary expenses as much as possible on your credit card, because it may increase your debt. Use your credit card when needed, without burdening yourself with more debts.

If you want a debt-free life, don't mistake to have multiple credit cards. For that, you need to create a budget and then list the debts that you owe to creditors and pay off the outstanding balance to keep away from more debts.

Author's Bio: 

Money Chutney provides insightful articles on saving, investing, budgeting and financial planning. These articles are intended to provide knowledge and make people aware of methods and techniques on personal finance, so they can use it to better their financial situation. These personal finance strategies are targeted towards educated middle class people in India, who typically look for information on how to save money.