Borrowology

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Paying off debt with snowball or avalanche

What changes when you pay the minimum, use debt snowball, or pay the highest rate first with the debt avalanche. The comparison is interest, not a score.

3 guides · about 25 minutes

  1. Debt snowball vs avalanche

    Debt snowball vs avalanche: paying the highest rate first usually costs less interest. Paying the smallest balance first can clear an account sooner.

     9 min
  2. How to calculate daily credit card interest

    How to calculate a credit card’s daily interest rate: many cards use APR ÷ 365 on a daily balance. APR divided by 12 is a different monthly estimate.

     8 min
  3. How long a debt stays on your credit report

    How long debt and collections stay on a United States credit report: most negatives run seven years from the delinquency, even after you pay.

     8 min