<prompt> Human: Ive seen a lot of posts for both of these methods to pay off credit card debt. I wanted to consolidate and get a pros and cons of either method:1. Should I pay off the debts with a high interest rate first?2. Should I start with the snowball method of paying off the lowest balance cards then moving to the the next higher and just pay the minimum balances on the other?It might be pointless to discuss since Im going to pay it off no matter what. But this is going to take probably a year or two and I was hoping to get peoples perspective on which may show the greatest improvement to my debt and credit score in the shortest time. Update: thanks all for your quick posts to this! I think Im more of the type that will need the psychological reward of seeing balances disappear and should probably start with the lowest balances first and go up from there. Ill stick to the minimum payments on the others and hopefully will knock this out in no time!  <response>: Study after Study shows that the psycologial effect of the snowball method leads to faster debt payoff overall. Ive done the snowball and WOW it feels good getting rid of stuff quickly.The name of this sub is not statistical finance, it is personal finance. And you have to treat your finances on a personal level. 100 Recommend the snowball method. 