[madison10]

Dang. That's nasty stuff at what - around 20% interest? Gotta get rid of that - maybe first.

10% interest. Working on it.

Been pondering a question, maybe someone could help...would it be better to take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card?

[dynachrome]

“take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card? “

Only if you have a good emergency fund left (3-6 months) after paying off the card. My 2 cents

[Principled]

would it be better to take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card?

Stop using the card. Save the card for emergency. Use cash to live. So keep plugging on the card. It will take no time at all if you stop using it.

[goodnesswins]

Well, personally I think if the SHTF you will need cash....so it depends upon HOW MUCH credit card debt you are paying off, and how much savings you have... IF the SHTF....and you need to eat....you’ll need cash....I doubt that credit will be taken. Oh, and I assume you are no longer adding to that credit balance.

[ApplegateRanch]

Try asking The Motley Fool: http://partners.leadfusion.com/tools/motleyfool/budget04/tool.fcs

You can run as many scenarios as you wish, with different inputs, to calculate whether it is cheaper to pay off, or save, or some combination.
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(Please Note: This calculator is not appropriate for decisions regarding home loans or investment loans. It is intended for computing decisions regarding credit card, auto, and other personal loans.)
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The Fool has many other free finacial calculators here: http://www.fool.com/calcs/calculators.htm?source=iicbsitcl10000001