No. of Recommendations: 0
I hate to watch you struggling to meet other expenses down the road a bit, simply to wipe out a single bill right now.

I'm with Nancy.

Financially, when you get down to it, yes, you'd save a little money by using your ING to pay off the CC debt once the rate increases.

But that said, you'd be raiding a very important emergency fund that allows you to sleep at night knowing that there's cash available should the unexpected happen. It's a good feeling.

Now, the Fool in me would argue my own point by saying, "True, but if there were an emergency, you could fall back on that card."

But then, there's another part of me (non-Foolish? more Foolish?) that argues that point by saying, "Yes, but the idea is to not just pay off the card, but to avoid using it at any cost."

Ahhh, such a quandry.

Here's the solution:

Whether you agree with Nancy and my way or not, that's not the issue. The issue is what you answer yourself when it comes down to how comfortable you'll be with the decision you choose. Is having that balance making you nuts, or will it drive you even more mad depleting that account you worked so hard to build up in the ING account? Whichever you feel better with, that's the answer.

I look forward to hearing which way you choose. Good luck!

...but I still am...

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.