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Credit Card Payoff Strategies That Actually Save You Money

Snowball vs. avalanche, lowering APR, and finding the fastest path out of debt.

Open the credit card payoff calculator

Updated 2025-08-09

How payoff speed is determined

Time to payoff is driven by balance, APR, and your monthly payment. Pay more than the minimum to reduce interest rapidly.

Snowball vs avalanche

  • Snowball: attack the smallest balance first for quick wins.
  • Avalanche: attack the highest APR first for max savings.

Lower your APR

Ask for a rate reduction, consider a 0% intro APR balance transfer (calculate the fee), or move debt to a lower‑rate personal loan.

Use the calculator

Plug in your balance, APR, and monthly payment. Adjust the payment to see how many months you’ll save.

FAQ

Is the snowball or avalanche method better?
Avalanche is mathematically optimal; snowball can feel more motivating. Use the one you’ll stick with.
Do balance transfers help?
Yes if you pay off before the promo ends. Watch transfer fees and penalty APRs.
Should I close old cards?
Usually no—age of credit helps your score. Consider closing only if fees outweigh benefits.

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