Credit Card Debt Payoff
Find out how long it will take to pay off a credit card balance and how much interest you'll pay along the way.
Why minimum payments barely move the balance
Card minimum payments are typically a small percentage of the balance plus that month's interest — meaning a large share goes to interest rather than principal, especially early on when the balance (and interest charge) is largest.
Avalanche vs. snowball
Paying off the highest-interest card first (avalanche) is mathematically the cheapest route. Paying off the smallest balance first (snowball) is usually faster to feel progress. Neither is "wrong" — it depends on whether you need the math optimum or the motivation of an early win.