Avalanche vs Snowball Calculator
Avalanche targets the highest interest rate first and is mathematically optimal. Snowball targets the smallest balance first and is psychologically easier. The argument between them is usually louder than the money involved.
Enter your actual cards and this calculator will show the real gap between the two methods for your situation — often a few hundred dollars and a month or two, sometimes considerably more. That number, not a general principle, is what should decide it.
If avalanche saves you very little, the method you will actually stick with is the better method. If it saves a lot, that is worth knowing before you optimise for motivation.
Results assume you keep making the stated monthly payment and add no new charges to the cards. Minimum payment rules vary by issuer; the percentage used here is an approximation.
Four ways out of credit-card debt.
Same cards, same monthly budget, four strategies. Avalanche and snowball reorder your payments; IBC and HELOC swap expensive card debt for a cheaper loan — against a life-insurance policy or your home. See what each actually costs.
Your cards
Min ($) is optional — enter your card's actual minimum from your statement. Leave it blank ("auto") to use the percentage below instead. Pay is optional too — pick 1st, 2nd… to pin cards to payoff positions and a "My Order" strategy joins the comparison. Positions are absolute — #8 means eighth even with gaps before it — and cards left at "—" fill the empty positions by Avalanche. After calculating, a green ✓ under each card shows its projected payoff month (using My Order if set, otherwise Avalanche).
Monthly plan
IBC — your existing policy
HELOC — your home-equity line
Combined (IBC + HELOC) — which to use first
Whichever source goes first pays off your highest-APR cards. Putting the cheaper source first (usually IBC) moves more debt to the lower rate — but you may prefer to preserve one. Enable Combined in the results to see it.