The same mechanism people praise in savings runs in reverse when you owe. The cost of carrying the balance gets added to the balance, so next period's cost is figured on a larger number. Left alone, the thing grows on its own without you buying anything else.
Growth Does Not Care Which Direction It Is Pointed
Compounding is just a cost or a gain being calculated on a total that already includes previous costs or gains. It's neutral. It builds wealth for people who own and it builds obligations for people who owe.
A little thistle in the corner of a pasture isn't a problem. Leave it two seasons and you're not dealing with a little thistle any more.
Why It Feels Like Nothing Is Happening
Early on, payments mostly cover the carrying cost and barely touch what you actually borrowed. So you pay faithfully for months and the balance looks nearly the same, which is the moment most people decide the whole effort is pointless.
It isn't pointless — it's just that the curve bends late. Anything paid above the minimum goes at the balance directly, which is why extra payments do so much more than they look like they should.
Turning It Around
Stop the additions, then pay more than the minimum on something, consistently. As balances close, their payments free up and the pace picks up on its own.
The same force that was working against you is what builds the other side once you own instead of owe.
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