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Are you tired of dragging around huge balances on your credit cards? Are interest payments taking a huge scoop out of your budget? There are several ways to save money on your credit cards, ranging from the quick to the complex.

The most straightforward method is to pay a little extra each month. If you have a balance of $7,000 and a 14% interest rate, paying $150 per month will pay off your credit card in 68 months and cost you $10,200. However, if you increase your payments by just $25 per month, it will take you 54 months and $9,450 to pay off your credit card balance.

“If I had the money, I wouldn’t have this credit card balance!” you say. Fair enough. Most of us aren’t interested in saving money on our credit cards over time; what we want is lower monthly payments. To reduce the amount you need to pay each month, you need to reduce the amount of interest you’re paying by getting a lower interest rate. You have a few methods to choose from:

* Roll the balance over to a credit card with a lower interest rate. Take into account the rollover fees, which can be substantial, and find a balance transfer offer that waives the fees, if you can. The very best offers of this kind are the promotional offers that give you an extremely low interest rate on balances added to the card during an initial grace period, and keep the interest rate low for the life of the balance.

* Request a lower interest rate from your current credit card issuer. This works best if you have been with the company for at least a year or two, have a good credit history, and have a couple of credit card offers in hand that offer markedly lower interest rates. Tell the customer service representatives that other companies are offering you better deals, and you are considering transferring to them. Often, the representative will be able to negotiate a better deal with you. (If the first person you speak to can’t help you, thank them politely, hang up, and call back later. Another customer service representative may know of a loophole in the regulations, may have leeway to cut you a better deal, or may simply be more willing to go the extra mile for you.) In the worst case scenario, the credit card company cannot lower your rates, so you simply go on paying them as before and find a better card to switch to.

* Ask your credit card company for help. If you are in an extremely difficult financial situation and you intend to pay off your credit card, but you can’t make the full payments right now, you may be able to work out an emergency deal with your credit card issuer in which you pay a lower amount per month for a set time. This is only for use in the worst circumstances, when you are at risk of defaulting on your credit card otherwise. The credit card company may penalize you by lowering your credit limit or refusing you new credit, and you will have a black mark on your credit rating. However, it is a better and more responsible solution than defaulting, and can squeak you through a tough period.

It will take you a bit of patience, persistence, and effort to save money on your credit cards. However, once you have a better deal, you will be on your way to greater savings, more financial stability, and renewed peace of mind.