Credit card companies require a minimum payment each month. The next step in reducing credit debt is to be sure you can make the minimum payments on your credit cards. Look at your spending and see if you need to make cuts to find the money to pay your credit card bills.

For an annual fee, companies will notify the issuers of your credit card and your ATM or debit card accounts if your card is lost or stolen. This service allows you to make only one phone call to report all card losses rather than calling individual issuers. Most services also will request replacement cards on your behalf.