Originally Posted by Mounds
Just to clarify my own position on using credit as an emergency fund...
I'm against it when it puts you in the red. If you've got substantial investments to fall back onto, who cares? If you're living paycheck to paycheck, I think it's a bad idea.
I've been there before and it's not fun having loan/credit card people on your case when you're struggling as is.
I would only advise falling back on credit when you've exhausted your rainy day fund.