Quick answer: This calculator compares two common payoff strategies: snowball, which pays the smallest balance first, and avalanche, which pays the highest APR first.
Who this calculator is best for
Use it when you have multiple credit cards, loans, or personal debts and want a practical payoff order.
How to use the result
- Use the calculator as an estimate, not a promise from a lender or card issuer.
- Keep minimum payments current before making extra payments.
- Recalculate when APR, balance, payment amount, or income changes.
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FAQ
Is snowball or avalanche better?
Avalanche usually saves more interest. Snowball can help if early wins keep you motivated.
Should I still pay every minimum?
Yes. Pay every minimum first, then aim extra money at the selected target debt.
Editorial note: BigBears calculators are educational tools. They do not provide financial, credit, tax, or legal advice.