Which is better, the avalanche or snowball method?

Avalanche (highest interest rate first) usually saves the most money. Snowball (smallest balance first) can be easier to stick with because of quick wins. The best method is the one you will follow consistently.

Does paying off debt help my credit score?

Paying down revolving credit-card debt lowers your utilization, which can help. Paying off installment loans has a smaller, slower effect. Either way, on-time payments matter most.

Should I close a card after paying it off?

Often no — keeping it open preserves your available credit and account age, both of which can support your score. Watch for annual fees and use the card occasionally so the issuer keeps it active.

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Debt Payoff Planner

Compare avalanche and snowball payoff order so you can choose a plan that fits your money and motivation.

Card 1 balance

Card 1 APR %

Card 2 balance

Card 2 APR %

Card 3 balance

Card 3 APR %

Monthly payoff budget

Total card limits

This planner is an estimate. Interest, minimum payments, fees, and due dates can change the real timeline.

How this tool works

Enter each card’s balance and APR plus the total you can put toward debt each month. The planner estimates your payoff timeline and ranks your debts two ways: avalanche (highest APR first) to minimize interest, and snowball (smallest balance first) to build momentum.

Why it matters for your credit

Payoff order matters because high-APR balances grow faster, but behavior matters too — clearing a small balance early can keep you motivated. Seeing both orders side by side helps you pick a plan you will actually finish.

Frequently asked questions

Which is better, the avalanche or snowball method?: Avalanche (highest interest rate first) usually saves the most money. Snowball (smallest balance first) can be easier to stick with because of quick wins. The best method is the one you will follow consistently.
Does paying off debt help my credit score?: Paying down revolving credit-card debt lowers your utilization, which can help. Paying off installment loans has a smaller, slower effect. Either way, on-time payments matter most.
Should I close a card after paying it off?: Often no — keeping it open preserves your available credit and account age, both of which can support your score. Watch for annual fees and use the card occasionally so the issuer keeps it active.

This tool gives an educational estimate only — not a promise of a specific score change, approval, or lender decision. Explore all free tools, dispute letter templates, or the credit guides.