If you're *this close* to paying off your credit card balance and want to walk into the new year debt-free, there are a handful of small, but helpful, steps you can take in these last couple weeks you have left.
Apart from winning the lottery or receiving a surprise inheritance, you may have to get creative to pay off your last bit of debt. Below, we've outlined unique tips you can use to become debt-free before 2026. Keep in mind that these tips are likely best for smaller remaining debt balances and while they may help you make progress on heftier balances, they may not completely clear a large balance in just a short amount of time.
Explore debt relief options
Redeem credit card points as a statement credit
If you have a good amount of credit card points and you're prioritizing paying off your credit card debt, you can redeem your points as a statement credit to lower your balance. Statement credit redemptions are generally valued at 1 cent per point. Though your points can be worth more when redeeming for other things like travel, if being debt-free is your primary goal right now and a statement credit can help get you there, you're simply using what you already have at your disposal.
Shop through a cash-back browser extension
Browser extensions and shopping portals like Rakuten (spoiler alert: it's my favorite!) let you earn cash back for purchases you already needed to make — like for a grocery pickup at Target, a CVS run or new pet supplies from Chewy. With Rakuten in particular, you can redeem your cash back as money back in your bank account on a quarterly basis, which can go toward your credit card debt.
Rakuten
Cost
Free
Cash back
Yes
Coupon codes
Yes
Mobile app
Yes
Works with in-store purchases
Yes
Welcome bonus
New users can earn a $10 bonus after spending $25 on purchases made in your first 90 days. You also may be able to earn an even larger bonus if you're referred by a friend.
How to redeem your savings
Rewards are issued quarterly.
Terms apply.
Pros
- You can earn American Express Membership Rewards Points or Bilt Rewards instead of cash back
- New users can earn a welcome bonus or referral bonus
- Offers at over 3,500 online stores
- You can activate savings, then shop and save on in-store purchases
Cons
- Cash back is awarded quarterly
- Typically not valid with Amazon purchases
Granted, cash back amounts are often on the lower end (think 1% to 3%), so, unless you're spending hundreds, you may not receive a mountain of money back. However, Rakuten offers higher-than-normal cash back (we're talking 20% to 30%) on select brands and retailers for a limited time, so this is your chance to cash in the most.
Post on resale apps and websites
Now's the time to clear any clutter and try to make some money off of it. Whether it's kid toys, clothing, furniture or home goods, resale apps and websites like Mercari, Depop and Facebook Marketplace have made it easier to get rid of gently used items and pocket a little cash while you're at it.
Selling unused items can be a simple way to make extra money to pay your credit card, but it isn't always the most time-sensitive route. Some of your listings can sit untouched for weeks, and sometimes people make a counter offer that's lower than what you originally wanted to earn for your item and you have to negotiate. Having said that, it's worth setting up now so going into the new year you have products listed that people may be looking for.
Mercari
Fees
Sellers pay a 10% fee for each item that's sold. There's also a payment processing fee of 2.9% plus $0.50. There's also a $2 fee for each direct deposit transfer under the minimum of $10 or a deposit rejected by the financial institution. Each Instant Pay transfer is $3.
Shipping costs
Either the buyer or seller can cover the cost of shipping; shipping labels are generated by Mercari and costs depend on the weight and dimensions of your package.
Availability
Mercari has an app that's available in both the App Store (for iOS) and on Google Play (for Android), and you can also list and shop via its website.
How do you get paid?
After the transaction has been completed, the payment will show up on your Mercari balance. You can either have the money directly deposited into your bank account.
Pros
- You only have to pay fees when you sell an item (no listing fees)
- People who want to sell items locally can use Mercari Local
- You can post the listings and manage your shop all from your phone
Cons
- Mercari take a higher commission fee (10%) than some other resale platforms
- There's a $2 if your direct deposit is less than $10
Depop
Fees
For U.S. sellers, the standard transaction fee for Depop Payments is 3.3% + $0.45
Shipping costs
Either the buyer or seller can cover the cost of shipping for shipping labels generated by Depop — costs depend on the weight and dimensions of your package. U.S. sellers can also choose to arrange their own shipping
Availability
The app is available in both the App Store (for iOS) and on Google Play (for Android); there's also a web version, but the app is more functional.
How do you get paid?
Earnings from your sales are all paid into your Depop Balance. These earnings are then automatically transferred to your connected bank account.
Pros
- You only have to pay fees when you sell an item (no listing fees)
- You can post the listings and manage your shop all from your phone
- Offers a social feed for boosted visibility
Cons
- Does charge a fee
- You can't use it for in-person deliveries or orders
- Funds are held until delivery confirmation or the waiting period elapses
Monetize your skills for last-minute work
There's not enough time left in the year to start a full-on side gig, but you can pick up random freelance work to do during evenings (or whenever you have time during the day) and use those earnings for paying down debt.
You can create your own pricing and use gig sites like Fiverr and Upwork to publicize your services. Upwork, for instance, will show you projects based on your skill, whether it's writing or design. You can sign up for job notifications so tailored alerts are always coming to you and use the "available now" badge to show that you can start immediately.
Use your holiday bonus
Have you received a holiday bonus this month, or planning to? Make the most of this windfall of cash by putting it toward your costly credit card debt. Even if your bonus only makes a good dent in your credit card debt but doesn't clear it completely, you're lowering your balance and thus how much additional interest can accrue.
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