Debt payoff and the Interest Exit Plan

1. Map every account

For each debt, record the balance, credit limit, APR, minimum payment and due date. Your credit report lists every open account — use it so nothing is missed.

2. Choose your payoff order

• Avalanche: extra money goes to the highest APR first. Saves the most interest.
• Snowball: extra money goes to the smallest balance first. Quick wins build momentum.
• Hybrid (our default): highest APR first, but pull forward any card whose utilization is hurting your score.

3. Cut the interest

• Call each card issuer and ask for a lower rate — mention your on-time history.
• Consider a 0% balance transfer if the fee (usually 3–5%) is smaller than the interest you'd pay.
• Consolidation loans can help only if the rate is lower and you stop adding new card balances.

4. Roll payments forward

Pay minimums on everything, put all freed-up cash on the target account, and when it's paid off, add its whole payment to the next account. The payment keeps growing as balances disappear.

5. Rebuild your score as you go

• Keep each card under 10% utilization, and your total too.
• Never miss a payment — payment history is the biggest factor.
• Keep old accounts open to protect your credit age.
• Check your credit report every 30 days for errors.