Credit card debt is the most expensive debt most people carry — often 20-30% APR. Paying it off faster saves real money, and the math is clearer than most people think.
Every dollar you throw at a 25% card saves you 25 cents a year in interest. That's the avalanche principle. If you can stay disciplined, this is the fastest and cheapest path.
Practical trick: pay the minimum on all cards, then set one automatic payment for the target card. Automation removes the willpower problem.
If you've started and stopped before, clear the smallest card first. Two small wins in the first two months build a habit that beats a 'mathematically perfect' plan you abandon.
1. Pay more than the minimum — the minimum-payment trap can stretch a card to 20+ years. 2. Attack one card at a time with all extra cash. 3. Consider a 0% balance transfer only if the transfer fee (usually 3-5%) is smaller than the interest you'd otherwise pay. Never treat a limit increase as 'extra money'.
Enter your debts once — compare snowball vs avalanche side by side, free.
Open the Free CalculatorGet the Excel Toolkit ($9.99)Only if the transfer fee is smaller than the interest you'll avoid, and you're committed to not running the old card up again. Run both scenarios in the calculator.
As much as your budget allows without breaking it. Even $50/month extra on a $5,000 card at 24.9% cuts years off the payoff.
This page provides general financial education. It is not financial advice. Consult a qualified professional for personalized guidance.