Snowball or avalanche: which clears my debts faster?
List your debts with their balance, APR and minimum payment, add what you can pay on top, and see the payoff month by month two ways: smallest balance first (snowball) or highest rate first (avalanche). Both pay every minimum; the difference is where the extra goes.
Interest is charged monthly at APR ÷ 12 on the opening balance. Card and overdraft interest in practice compounds daily, so real figures run a little higher.
Add your debts and select Calculate.