Great question Amaracotta!
Unfortunately, paying down credit card debt is not an allowable exception to paying a 10% penalty on early distributions, as long as you are under the age of 59 1/2 on the day of withhdrawal.
Read further:
https://www.schwab.com/learn/story/how-does-secure-act-impact-saving-after-age-70
Secondly, what you have to consider is that the amount to withhdrawn is considered taxable income.
That is unknown factor when considering what tax bracket you will be in as of the last day of the year.
At a minimum, you would be required by the financial institution to withhold a minimum of 10% to 20% as backup withholding tax, but that will not mean you have withheld enough to cover your total taxable income of all amounts by December 31st.
Assume the possibility of withholding anywhere from 10% to 20%, just for any income tax as a minimum requirement, and an additional 10% to cover the amount you could owe in penalties, only if you are under 59 1/2.
