If you have decent credit, you can generally get credit cards at, near, or even below a HELOC rate. I have two credit cards that I don't use (well I put 1 fixed payment on each every month to keep my credit score up) with limits at $30k on each. With the money access checks they give me with promo rates, I could easily sit on 30k each year, just bouncing the balance back and forth anywhere between 0 and 2.99%.
yes thats an option but those credit cards last like 6 months before you need to bounce them. And you need to qualify for the credit. With equity line you qualify once at your best at then you can still get access to it if you no longer work/have bad credit etc.
Not necessarily. I have 15K credit card debt at less than 6% until the loan is paid off. The trick is to max out a credit card, make a big payment, and then they send you a blank check for some ridiculously low rate for an indefinite period on your account with a note that says they hope they're not losing you as a customer. Then you pay the rest of the credit card off and write the check for (almost) your entire credit line. At least that's what Chase did for me.
I do have good credit, but then you have to have good credit to get a low enough interest rate on a mortgage to make it worthwhile, right?
