Of all the bulletin board posts very few mention using the home equity line of credit as a source of debt reduction. It is tax deductible and usually at single digit rates. I do not like the idea of jumping from card to card for teaser rates because time flies and before you know it or don't know it your rate has expired and your APR is 16%. Unless you are very organized you will wind up with just more double digit rate debt. Opt for the home equity line of credit if you qualify.From someone who twice has transfered the CC debt to a HEL I do not recommen this unless a person has truly gotten control of his/her spending. This time I decided I was going to go ahead and pay off the CC's by snowballing them (since I still am paying the 2nd HEL from the last time I ran up my credit cards). For me even though I might be loosing out on interest I feel I am able to get my spending under control much better. Also I don't like the fact that I now owe more on the house than when I bought it.
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