Do You Split Up Your Emergency Fund?

[disneysteve]

While this makes sense and sounds reasonable, I'm really not comfortable using my credit card in anticipation of receiving money, especially in an emergency. I only want to use my CC for rewards and things if I already have the money.

Absolutely! You should never use your CC if you don't already have the money to pay the bill in your account. I certainly didn't mean to imply otherwise.

What I meant was if your bank were to fail and at the very same time you encountered an unexpected bill, it could take 2-3 days to access your money. You could use your CC to pay the bill and then once you regain access to your account, settle up the bill.

Never carry a balance on your credit card (0% offers are the only possible exception).

[marvholly]

I guess I do BUT not for the reason(s)the OP stated.

I have an account at a local bank (1.3 mi from home) where I make a monthly deposit of 1/12 all my annual & semi-annual expected bills + a bit more (sweep my checking account).

I have an account at an online bank that pays better interest for the bulk off my EF savings.

i have been through MANY bank failures/closings over the past 8ish years. NEVER have I had a problem accessing funds immediatly. The FDIC arranged other bank takeovers with NO loss of time or funds.

[SavingSteve]

i have been through MANY bank failures/closings over the past 8ish years. NEVER have I had a problem accessing funds immediatly. The FDIC arranged other bank takeovers with NO loss of time or funds.

That is reassuring thanks!