Take a close, critical look at the number of credit cards you are using, what you are using them for, the interest rate of each, and the amount you pay annually for fees. Do the same with any loans you may have. Then...

1. Make a list of your outstanding debts. The first step in trimming your credit debt is to figure out just how much you really owe. You can organize your credit payments by using the Credit Payment Chart. Refer to your net worth statement from What's Your Financial I.Q.?

   Other credit payments you might have to add to the list are educational loans, home improvement loans, checking account overdrafts, passbook loans, personal loans for insurance, taxes, or travel, rent-to-own agreements, and other installment purchases.

   List your debts in order, from the highest amount to the lowest or by their annual rate of interest.

2. Compare the debts with the highest interest rate to the debts with the lowest rate. Start paying more than the monthly payment for debts at the top of the list, which have the highest rate of interest, then move down the list.Contact your nearest Cooperative Extension Service office for information on the Power Pay computer program, which helps you determine which bills to pay off first.

3. Pay off the lowest balance first. Pay off bills with the lowest balance due. For example, if you owe only two more payments on your car or refrigerator, you may want to hurry up and pay those off. Once you pay off a bill, add that amount to your payment to another creditor.

4. Shop around for credit cards and loans with the lowest interest rate. Remember, lower rates are available for good customers, but you have to ask. You may decide to transfer your outstanding balance from a high-rate card to a low-rate card. Ask the new bank to waive the transfer fees. Switching from a card with 21 percent interest to one with 14 percent could mean a savings of $50 or more per month. Be sure the new card's low rate is for more than just a few months.

5. Pay off some debts with your assets. Are you putting money into a savings account or money market account that earns only a small amount of interest? If you apply those same funds to your debt, which may be at least 18 percent interest, you are saving at least 12 percent. Not a bad investment. Remember to keep some savings for emergencies.

6. Look for options. Perhaps you don't have available cash resources. You may have items that could be sold, or you may want to take out a low-interest loan from a bank or credit union or take out a home equity loan.

You make your own credit history. It begins the first time you use credit, and it continues all through your life.