The Best Payment Method to Use to Settle a Credit Card Debt

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A credit card lender may offer you the opportunity to "settle" your credit card bill. Settle means you pay less than you owe on the debt. This can help you take care of the bill while keeping more of your money in your own pocket. The best payment method to use will depend upon your personal preferences -- but no matter which method you choose, when you make the payment to the credit card lender, do so in a manner that protects your bank account information.

Checking Accounts


Online Bill Pay

Prepaid Debit Cards

Other Payment Methods

You can generally use a cashier's check or money order to pay your settlement debt. You can purchase a cashier's check or money order at most banks for a small fee. Some may offer them for free to bank customers. You can also buy a money order at the post office or even at some convenience stores. You decide the dollar amount of the cashier's check or money order, purchase it, and then fill out the payee information. The credit card issuer or collector can then deposit the cashier's check or money order into its account. Save the receipt from the purchase for your records.