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5 ways to be free of credit card debt by the end of the year

5 ways to be free of credit card debt by the end of the year
Ian Gavan/Getty Images



Credit-card debt can damage your credit score and hinder your ability to build wealth.




Credit cards are notorious for high interest rates, which can greatly prolong your debt repayment schedule if you're not proactive.




To pay off your debt quickly, consider asking for a lower interest rate, consolidating your debt, or doubling your monthly payment.




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Americans of all ages are mired in credit-card debt.
Nearly half of Gen Xers are more focused on paying off debt than saving for retirement right now, while one in four millennials say credit cards are their main source of debt, not student loans.
Having credit-card debt isn't always a sign of irresponsible spending habits. Unexpected expenses crop up for everyone and sometimes credit can seem like the only lifeline.
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