1. Freeze your credit card.
Literally. Continuing to use it will only make it worse. Holler at that debit card. You can unfreeze it when your relationship is in a better place…
2. Identify where you are over spending
You have a high credit card balance because you are living beyond your means.
Are you shopping at Saks instead of Target?
Are you eating Panera for lunch every day instead of PB&J?
Did you have a big unexpected expense that your savings account couldn’t cover?
Are you doing all of thee above? Stop.
3. Setup a payment plan.
There are online tools that will help you figure out how to pay off your credit card balance like at bankrate.com (http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx)
While the news will be depressing, paying $2,500 a year in interest is definitely more depressing.
I promise you can do this! You really don't have a choice so that makes it a little easier because credit card debt is financially crippling. It will just take a little planning and self discipline (starting with #1…)