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Question By
indnangl

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how do I pay off a credit card with a high interest rate ie:First Premier
How do I get this bill paid off? The interest rates are out of this world and I don't even use the card anymore (7months). My bill only goes down $20.00 a month, but then with fees and interest I still owe $630.00 every month!
Please, any advice how to get rid of this card?

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Top Contributor
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Pay More.

It sounds to me like you are only making the minimum payments or close to them.  Good luck paying that off.

Pay it off in 4 months.

$630 balance / 3 months = $210

Pay $210 each month for the next 3 months.  On month 4, you'll have a small balance to pay which would represent unpaid interest.  Pay that and you'll have a $0 balance come this summer.

Once it's paid off, do not close that account.  That will lower your score.  Instead, stick the card in a drawer someplace and never use it again.

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