There are two schools of thought on this. The snowball method advocates paying off the smallest balances first, so you can celebrate the small wins, which could help you build momentum. The avalanche method encourages you to pay off the balances with the highest interest rates first, so you can save money. But don’t forget about the third option: You could also try consolidating your credit card debt into one monthly payment that’s easier to keep track of and ideally offers a lower interest rate.