In general, it’s best to avoid depleting your savings to cover your credit card debt. You’ll have less money available for unexpected financial expenditures by taking this action. In addition, you’ll fall behind on your savings targets for your retirement, down payment for a home, vacation, etc. Using a balanced approach, such as the avalanche method or snowball method, is more conducive to proper financial management, including settling credit card debt. Consolidating your debt using a balance transfer card or working with a credit counselling agency are excellent options as well.