What should I do if I owe 200,000 on my credit card?

1. Calculate how much money is owed on each credit card, and calculate the monthly handling fees required to repay 200,000 credit cards. Make a savings plan. How much money you make each month, and how much money you have left over from frugal expenses, will all be used to repay the loan.

2. If your family's financial situation is acceptable, it is recommended to take out 200,000 from home to pay off the credit card first. Then slowly return it to your family, at least without paying any handling fees.

3. Increase revenue and reduce expenditure. Only when you are under pressure will you be motivated. Find more part-time jobs and spend less money. Basically, you can pay it off in 2-3 years.

4. If you have several cards, you should give priority to repaying the small amount, and try to use the large amount card to repay the small amount of debt, so that all the money saved can be paid in interest.

5. You can use other methods to obtain loans, such as mortgage a house or buy a car to obtain a bank loan. The annual interest rate is generally only about 8%, which is much cheaper than the 18% annual interest rate and credit card debt.