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swollennode t1_j6n50sk wrote

People are telling you to payoff your credit card with your savings.

I’m on the opposite train in that you should save your savings. The reason is that you’re planning on getting a new job with a pay cut. You don’t know if your new job is going to keep you long term or if they’re just going to lay you off within a few months. You should always keep at least 6 months worth of expenses in a savings account for emergency. Losing a job is considered one of the emergencies. Likewise, being at a job for 18 months isn’t a guarantee that you’ll be there in the next 2.

I would transfer your current credit card to a 0% apr credit card so you can pay it off over time. Most credit cards have that offer if you have good credit and is opening a new card.

Always have enough savings for the unexpected.

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pepe-halpert t1_j6n88xl wrote

But that’s what the credit cards are for…they act as emergency savings when you don’t already have them in cash.

Sure, you can transfer to a 0% card and pay off slowly, but in theory it’s not any different than paying off now and using a 0% card to fund future purchases while you rebuild savings.

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swollennode t1_j6p3b77 wrote

How do you pay rent or mortgages with credit cards?

Most places don’t accept rent through credit cards, and banks definitely don’t accept mortgage payments via credit cards.

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