What is the debt avalanche method?

Pay minimums on all cards, then put every extra dollar toward the highest-rate card first. Once that's paid off, roll the payment to the next highest rate. This mathematically saves the most interest.

What is the debt snowball method?

Pay minimums on all cards, then put extra money toward the smallest balance first. When that card is paid off, roll the payment to the next smallest. Quick wins keep you motivated.

How much will minimum payments cost me?

On $5,000 at 24% APR with 3% minimum payments, you'll take about 22 years and pay over $7,800 in interest — more than the original debt. Even $50/month extra cuts that to under 3 years.

How to Pay Off Credit Card Debt Fast: Avalanche vs Snowball

Average credit card debt in the US: $6,501. Average APR: 24%. At minimum payments, that's 22 years and $7,800+ in interest. Two strategies can cut that to under 3 years.

The Avalanche Method (Saves the Most Money)

Pay minimums on all cards. Put every extra dollar toward the highest interest rate card. When it's paid off, roll that payment to the next highest.

Example: $5K at 24% + $3K at 18% + $1K at 15%. Attack the 24% card first. Total interest saved vs. minimum payments: $4,000+.

The Snowball Method (Builds Momentum)

Pay minimums on all cards. Put extra money toward the smallest balance first. Quick wins trigger dopamine and keep you going.

Example: Same three cards — pay the $1K at 15% first. It's gone in weeks. Now you have motivation and a freed-up payment.

Avalanche vs Snowball: Which Saves More?

Method	Total Interest	Time to Debt-Free
Minimum Only	$7,800+	~22 years
Snowball ($200/mo extra)	$1,650	~2.5 years
Avalanche ($200/mo extra)	$1,420	~2.4 years

Bottom line: Avalanche saves ~$230 more. Snowball gives faster wins. Pick the one you'll stick with.

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