INDIANAPOLIS (WOWO): The latest estimates show Americans racked up an added $60 billion in new credit card debt over the 2014 holiday season. That‘s up 55-percent over 2013.

Indiana-based Apprisen Financial Services Specialist Ryan Chatterton says when bills come due in the mail, it‘s important for consumers to pay significantly more than the minimum payments on their balances to reduce debt. He says credit card companies want consumers to pay only the minimum payments so they can make more money from interest.

Chatterton says it‘s debatable which credit cards to pay off first; the ones with higher interest or balances. He says it‘s best for consumers to concentrate on paying down overall debt.

According to Chatterton says now‘s the time to review your budget and expenses and cut back in certain areas to focus those funds on paying down debt.

He says the most important things people can do to maintain good credit scores is to make payments on time each month, reduce their credit card debt and keep balances low.