See how we rate banking products to write unbiased product reviews. The Credit Karma Money Save Account offers a high interest rate with a $0 minimum deposit and no monthly service fee.

If cardholders have sufficient funds, the quickest way to lower debt is to pay off all credit card balances as soon as possible. Obviously this requires liquidity and may not always be possible.

And if you have debt on more than one credit card, planning also helps you focus on which balance to pay off first. Below, CNBC Select outlines three common strategies for paying off debt.

There are tools built into the Wallet app to encourage users to pay off their balances quicker to avoid interest fees. A credit check is required when signing up for the Apple Card. Approvals are ...

Consumers with credit scores of 579 and below often see credit card APRs higher than 24%. The good news is that when you pay off your entire statement balance each month, you can use credit cards ...

Madison Blancaflor is the managing editor for TPG's content operations team. She focuses on helping TPG's broader editorial team bring news, features and advice to readers. She has nearly six years of ...

1. Call your credit card company and explain your situation As soon as you find out you won't be able to make your minimum payment, contact your credit card company so they're aware of your situation.

Matt is currently Head of the Coverage Team at The Motley Fool. He has been a full-time Motley Fool employee since 2012 and is a former advisor and analyst for multiple Motley Fool services.

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national ...

When applying for a credit card, you must typically wait several days to see if you’ve been approved, and then wait some more for the card to arrive via snail mail. Luckily, many credit cards ...

Use a credit card payoff calculator to find out how long it will take you to pay off a balance and how much interest you'd end up paying. Credit card interest is calculated based on your credit ...