<prompt> Human: I have one credit card left with a pretty high interest rate 29. I havent used credit in a couple years, so this is just a final pay down. Theres about a thousand left, and Ive been doubling the minimum payment for a while. My emergency fund is about 2300 now and I contribute 160 a month to it. Should I just go ahead and blow that card away from my emergency fund, or leave it as is, eat the interest, and add the 160 to my payment? That will still be a significant gain, but not as satisfying as blowing that sucker away in one shot.  <response>: Pros: Youd save money on interest. Assuming they dont close your account as soon as you pay it off, the credit card would act as a de facto secondary emergency fund in the short term. Worst case scenario is you pay off the card and then a week later you have a 2,000 emergency, so you have to put 1,000 back on the card - so youre right back where you started. Cons: Youre probably not going to save that much on interest. If you only owe 1,000, and youd be paying double the minimum plus 160 every month, youre going to have it paid off pretty quickly anyway and will likely pay less than 75 in interest. Theres always the possibility that your card will be closed or have its limit reduced after you pay it off. I dont know how common this is, but someone here mentioned it happened to them once, so I assume its a possibility. Theres some risk to relying on the credit card in the short term while you build your emergency fund back up. So really I suppose the worst case scenario is you pay off the card in full, they close your account, and then you get hit with a 2,000 emergency. I know emergencies are, by definition, hard to predict. But if youve got a stable job and dont anticipate any major things happening in the next 6-12 months, I would personally go ahead and pay off the card in full now, and then take the money I wouldve paid towards the card each month and add it back to the emergency fund. Its not a huge difference either way so its up to you and what youre comfortable with. 