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How To Pay Your Credit Card Debt Quicker in Canada 

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If you are a native or an immigrant living in Canada, you must know how important it is to maintain and improve your credit score in Canada. 

  • If you have a good credit score, the chances of getting a loan are high, and you can earn a better interest rate for your returns. However, if this score is low, it is recommended to increase the credit score. 

One of the factors influencing the credit score is if your credit card bill is due, cleared, or you have missed your deadline.  

  • The credit bureau requires all these factors to initiate a credit report and provide you with a credit score. 
  • If your credit card debt is null, it will automatically improve your credit score and vice versa. There are a few guidelines and tips to pay your debt quicker, which include your mental strength and stability. 

Analyzing your debt 

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The first step to lowering your debt is to make a report and analyze : 

  • How much you owe 
  •  Who do you owe 
  •  How much interest do you owe 
  •  What is the due date of your debt 

Analyzing all these questions, and keep a track record of your payments, and knowing the due dates of your payments will mentally sharpen you and allow you to make these payments at the right time and at the right moment. 

Knowing where you stand and how much you owe will also stable and mentally prepare you for the fight for debt clearance. 

Prioritizing your debt will also make wonders to your path of attaining debt freedom. Knowing which debt to pay first and which credit card bill to prioritize will allow you to decrease your debt systematically. 

Paying Minimum Amount 

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There is a minimum amount associated with the credit card that you have to pay monthly, failing which you will be penalized with late payment fees, which will add to your already piled debt. 

Try to clear your minimum payment and aim higher to clear not only your minimum credit bill but also to pay the amount as high as you can to reduce your due bill in less time.

Balance Transfer 

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One of the ways to reduce your bills is to transfer your debt to an introductory 0% APR period credit card.  

It can help you in the long run, as no interest is piling up during this promotional period. 

Transferring your debt to a lower interest-generating card can prove beneficial when fighting the battle of due payment. 

Strategize your budget 

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Honestly, your debts won’t pay off by themselves. You need to reallocate a part of your savings and budget in order to get out of the swamp of debt. 

  • Allocate a part of your income, and try to cut down some expenses that are not worth it.  
  • It could mean skipping that weekend party or closing your eyes at a clothing store offering a 60% discount. 

“You have a family to feed, not a community to impress”. 

Using the week rule 

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If you are one of those that pay their credit card debt after it has piled up for a month, then you are wrong. Paying a month’s piled-up debt is humongous and puts a lot of strain on your pocket. 

  • It is found that weekly payments of credit card bills are much easier and simpler than paying that big monthly bill, which is complex and can be irritating. 
  • Cutting that huge bill into bits and pieces, and paying them regularly in a week’s time, will not only cut down your debt simpler and faster but will also not put a pile of load in your mental state. 

Your mental state is the most important thing, which should be a priority that will give you the self-esteem and confidence to clear your debt in no time. 

Celebrate little things in life 

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No matter if you paid a debt of a KIA or if you repaid the debt of a two-wheeler, a win is a win.  

These little things in life help a lot in the long run, and celebrating once in a while does no harm, but brings happiness and peace of mind. 

  • Work consistently towards your goals, and if you achieve a small goal or a big milestone just relax and celebrate that feeling. 

“These little things in life are what matters the most”. 


Credit Cards give you the benefit of lending credit, and with a low interest, allow you to pay your collected debt monthly. There may be times when your credit card bill racks up, and here are some tips to get you out of the swamp of Credit Card Bills.

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