Should I pay the highest APR card first?

Mathematically yes (avalanche method). Behaviorally, some prefer snowball — paying smallest balance first to build momentum.

Finance

Credit Card Payoff Calculator

Find out how long it takes to pay off your credit card balance, the total interest you'll pay, and how much you save by increasing your monthly payment.

Why minimum payments are dangerous

If you only pay the minimum on a $5,000 balance at 22% APR, it can take 7+ years and cost over $4,000 in interest. Doubling the payment cuts the timeline by more than half and saves thousands.

The two popular debt strategies

Avalanche — pay highest APR first. Mathematically optimal, saves the most interest.
Snowball — pay smallest balance first. Builds momentum with quick wins.

Both work. Pick the one you'll actually stick with.

Frequently asked questions

How long to pay off $5,000 at 22% APR?

$200/mo → ~31 months & $1,260 interest. Min only → ~7 years & $4,300+ interest.

Is paying the minimum a bad idea?

Yes — minimums are designed to keep you in debt for years.

Avalanche vs snowball?

Avalanche = highest APR first (math). Snowball = smallest balance first (psychology).