Reducing High Credit Card Debt
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If your credit usage is too high, your score won't go up until that's fixed.
If any of your cards have over 80% usage on them, you've got a huge penalty to your credit score. Just one maxed out card is about a 50-80 point drop. And that can compound if you have more than one card that is maxed out!
Got it!
Step #1 is to pay down cards to 80% credit usage.
When that is done, your score will be higher and your interest rate will be better. If you have more than one card, make sure each is paid to under 80%, because the score penalty compounds with each card that is maxed out.
Got it!
Step #2 is to shop on Credit Karma for a loan.
Credit Karma already has your credit information, and they're matching you with loans that have a good approval chance. The interest rate may not be much better than your credit cards, but this loan is used temporarily, so don't worry about this interest rate. Use this loan to pay off your card balances.
Got it!
Step #3 is to wait for your score to be over 700.
Once your score is over 700, go back on Credit Karma, and look for another personal loan with a different company. This loan will have a much lower interest rate. Use this loan to pay off the first loan, and your monthly payment will be much lower.
Got it!
You can drop your interest to 0% with a balance transfer card.
After you've refinance the loan to a lower interest rate, keep an eye on Credit Karma for 0% balance transfer offers. You'll be able to pay off your debt even faster, going from 30% to 0% interest in just a couple months, saving thousands of dollars over time!
Got it!
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Wendy Massengill
Created on October 7, 2025
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Transcript
Reducing High Credit Card Debt
Quiz
Start
Congratulations!
You have completed this quiz!
Want a year of free rent reporting?
Enter for a chance to win!
If your credit usage is too high, your score won't go up until that's fixed.
If any of your cards have over 80% usage on them, you've got a huge penalty to your credit score. Just one maxed out card is about a 50-80 point drop. And that can compound if you have more than one card that is maxed out!
Got it!
Step #1 is to pay down cards to 80% credit usage.
When that is done, your score will be higher and your interest rate will be better. If you have more than one card, make sure each is paid to under 80%, because the score penalty compounds with each card that is maxed out.
Got it!
Step #2 is to shop on Credit Karma for a loan.
Credit Karma already has your credit information, and they're matching you with loans that have a good approval chance. The interest rate may not be much better than your credit cards, but this loan is used temporarily, so don't worry about this interest rate. Use this loan to pay off your card balances.
Got it!
Step #3 is to wait for your score to be over 700.
Once your score is over 700, go back on Credit Karma, and look for another personal loan with a different company. This loan will have a much lower interest rate. Use this loan to pay off the first loan, and your monthly payment will be much lower.
Got it!
You can drop your interest to 0% with a balance transfer card.
After you've refinance the loan to a lower interest rate, keep an eye on Credit Karma for 0% balance transfer offers. You'll be able to pay off your debt even faster, going from 30% to 0% interest in just a couple months, saving thousands of dollars over time!
Got it!