Debt Payoff Calculator

Avalanche (highest APR first) is mathematically optimal; snowball (smallest balance first) wins on psychology because closing whole accounts early keeps people in the game. Research on real borrowers finds completion matters more than optimization — and the tool shows the dollar gap on your numbers, which is often smaller than expected.

When a debt is paid off, its minimum payment doesn't vanish from your budget — both strategies redirect it into the attack on the next target. This snowballing of freed-up payments is why payoff accelerates toward the end, and why the plan works even when the extra amount starts small.

If a minimum payment doesn't exceed the monthly interest accrual, the balance grows despite paying — common with high-APR cards and bare minimums. The fix is any extra payment at all, or a lower rate: balance transfers and negotiated APR reductions attack the same problem from the other side.

Variable APRs, promotional 0% windows expiring, fees, new charges on the cards, and minimums that shrink as balances fall (this tool holds them fixed, which is slightly conservative — real payoff is usually a touch faster). It's a strategy comparison and planning tool, not a bank statement.