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To piggyback on what Warthog said (sorry about the pun, but I couldn't resist):

The snowball approach, as I guess it's called, is quite satisfying. Because you are concentrating your efforts and cash at just one CC -- the one with the highest interest rate -- its balance declines relatively quickly. In other words, you have the satisfaction of seeing that you are making progress. I can tell you from experience, it is indeed quite satisfying. (My wife and I went out to a very nice dinner after we paid off the first card ($12,000) to celebrate. While that didn't exactly fit within the LBYM portion of our plan, we deserved it!)
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