How Can I Speed Up My Credit Card Payment? South Africans Seeking Faster Debt Solutions

Credit card debt is becoming a serious financial burden for many South Africans. According to the National Credit Regulator (NCR), nearly 50% of credit-active consumers are in arrears, with credit card debt being a major contributor. A recent TransUnion report revealed that millennials (ages 25–40) and middle-income earners (earning between R10,000 and R30,000 per month) are the most affected by rising credit card balances.

With interest rates increasing and the cost of living rising, many South Africans are looking for ways to pay off their credit card debt faster.

How Can I Speed Up My Credit Card Payment?

Here are five proven strategies to help you settle your credit card debt more quickly and regain financial control:

1. Follow the 15-3 Rule

A smart repayment strategy is the 15-3 rule, which helps reduce interest charges and speeds up repayment. Instead of making one large payment at the end of the month, split your payments:

✅ First payment: 15 days before your due date
✅ Second payment: 3 days before your due date

By lowering your average daily balance, this method can help reduce the amount of interest charged. According to a Nedbank blog on credit card repayment, making multiple payments can also improve your credit score.

2. Pay More Than the Minimum

Paying only the minimum amount due allows interest to accumulate, making it harder to settle the debt. If possible, pay at least double or triple the minimum payment each month. The more you pay, the faster your balance will shrink.

3. Use the Avalanche or Snowball Method

• Avalanche Method: Pay off the highest-interest credit card first while making minimum payments on others. This reduces overall interest costs.
• Snowball Method: Pay off the smallest credit card balance first, then roll that payment into the next smallest debt. This helps you gain momentum and stay motivated.

Both strategies can accelerate your debt payoff, depending on what works best for you.

4. Cut Back on Unnecessary Expenses

Re-evaluate your monthly budget and eliminate unnecessary expenses—such as takeaways, subscriptions, and impulse shopping. Use those savings to make extra payments on your credit card.

5. Debt Review: A Better Alternative to a Consolidation Loan

If you’re struggling with multiple debts and can’t keep up with payments, debt review can provide a structured and legally protected solution.

What is Debt Review and How Can It Help?

Debt review consolidates all your debts into one affordable monthly payment—but without taking out another loan. Instead of juggling multiple credit card and loan payments, debt review helps you:

✅ Lower your monthly repayment amount based on your affordability.
✅ Reduce interest rates, approved by the credit providers make it easier to settle debt faster. 
✅ Protect your assets (home, car) from repossession. Legally protecting your assets.
✅ Stop creditors from harassing you as you now have a partner in this who will deal with it for you.
✅ Restore your credit score by paying off your debt and having all negative data expunged, with a deb clearance certificate.

This process is regulated under the National Credit Act (NCA), ensuring that consumers have a fair and structured way to become debt-free.

What is the Fastest Way to Pay Off a Credit Card?

The fastest way to settle your credit card debt is to:
✅ Pay more than the minimum due each month.
✅ Use the 15-3 rule to reduce interest charges.
✅ Apply the avalanche or snowball method.
✅ Consider debt review if you’re over-indebted and need structured relief.

Take the First Step: Get a Free Debt Assessment Today

If your credit card debt is becoming unmanageable, DCGsa can help you find a solution.

📞 Contact us today for a FREE, no-obligation debt assessment to see if debt review is the right option for you.
Do your FREE CREDIT CHECK HERE!

🔗 Visit www.dcgsa.co.za or WhatsApp us now!

Taking action today could mean a debt-free future sooner than you think! 🚀