Credit Card Basics

More than two-thirds of people who have credit cards do not pay them off each month. This worksheet will help you sort out what you owe and what company you owe it to, so that you can work down your debt and eventually pay them off in full.

Creditor/Credit Card
Amount Due
Interest Rate
Minimum Payment
Typical Monthly Payment
Interest Paid Each Month
Target Date Paid in Full


Ways to Reduce Your Credit Card Debt


  • Pay off the credit card with the highest interest rate first.
  • Pay your credit card bill as soon as you receive it, especially if you are carrying over a balance as this will help reduce your interest charges.
  • If you cannot pay the full amount, pay as much as you can each month. 
  • Look for low-rate and no annual fee credit cards. You can get a list of credit cards, interest rates and fees at:
  • For one-on-one credit counseling, contact the National Foundation for Consumer Credit at 
  • 800-388-2227; Llama Española, 800-682-9832 or



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