Most credit card calculators do no more than figure your basic payment or consolidated balance. You need more than that if you wish to payoff your credit card debt within a reasonable timeframe.

There are two highly effective strategies on how to best paydown multiple credit card accounts. Each approach uses the "debt snowball" method. Some experts refer to this method as "debt stacking".

As credit card debt in America continues to rise, you should be aware of these techniques.

Basically, you list all of your credit card balances and pay them down in one of two specific orders. These two strategies include:

1. Pay off the credit card with the highest interest rate first

2. Pay off the credit card with the lowest balance first

The first theory is based on the fact that you will end up saving more overall if you pay off the highest interest rate card first, then work your way down. Once you pay off the first account, apply the money you were paying monthly on the first account toward the second highest interest rate card.

You will now realize the benefit of the "snowball effect". Your money is now working FOR you. You now have the most important thing in finance - MOMENTUM! You can get started quickly using this method by using the best of the best credit card calculators.

The second theory, paying down your credit cards in order of smallest to largest, is based on the assumption that you will become more motivated if you realize success quickly and more often. We like this theory because as we said earlier, MOMENTUM is critical.

The trade off of the two strategies is that in Strategy One you will save a few extra dollars of interest by paying down the highest interest rate cards first. However, the savings is so minimal, we believe that the momentum factor provided by Strategy Two far outweighs the savings.

In both cases, the most difficult part is in paying off that first account. Yes, it will take time, but the rewards are priceless. Credit card calculators can help show you the path to paying off the entire balance so that you will never be dealing with nasty credit card debt collection agencies.

Once you pay down that first debt, and then apply the savings toward the next debt, you will be absolutely amazed at how quickly you can payoff the second debt. You'll be even more amazed at how fast you payoff the third debt, and 'astounded' at the speed of paying off the fourth - and 'highly inspired' to keep it going.

The ultimate goal, of course, is to payoff ALL your debt and become 100% free and clear of all debt, FOREVER!

The really great news here is that thousands of people have already been where you are today - and they have successfully paid off their entire debt. So no, you aren't some sort of 'special' case. In fact, if you are in debt, consider yourself as normal. But now you can become 'abnormal' by becoming debt free, finally able to live a debt free lifestyle.

There is no better feeling that being debt free. Take the first step today.

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