snowball effect

Anonymous · ‎03-29-2019

anyone ever used this method in paying off loans? was it successful, difficult, etc? please share all info

CramEiko · ‎03-29-2019

Don't snowballs roll down hill? IMHO - That doesn't sound like a payoff of any loan... Sounds like the opposite.

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Anonymous · ‎03-29-2019

I've only ever really heard it used with respect to paying off revolving accounts, but I suppose in theory it could be used on loans as well. The impact from using it on loans from start to finish would be much less (maybe 1/3?) in going from a best case to worst case scenario when compared to revolvers. What I mean is that going from maxed out aggregate loan utilization down to ideal may be "worth" 30 points for someone, where going from maxed out aggregate revolving utilization down to ideal could be "worth" (say) 90 points.