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In the event your spending gets out of control and you find that you have high balances on all of those cards, there is a way to pay them off called “snowballing” those debts. The way this works is that you create a spreadsheet with all of your credit cards, their balances, interest rates and due dates. Then sort them from the one with the highest balance down to the one with the lowest. Next, do everything you can to pay off that card that has the highest interest rate while making the minimum payments on the other cards. When you’ve paid off that first card, you will have the maximum amount of money available to begin paying off the card with the second highest interest rate. Keep doing this and you should be debt-free in just two to three years even if you owe as much as $50,000. Here’s a video that explains more about snowballing credit card debt and how to do this successfully.