No. of Recommendations: 0
The checks definitely say they are fixed until they are paid off. I would use the checks and then not use that card anymore at all. I'm not sure we'd do it yet, at this point. What I wanted to find out was whether or not they had and legal right to change the interest rate arbitrarily. I know that if you miss a payment they can really rake you over the coals, but I'd probably have an automatic payment sent from my checking account to guard against that possibility.

We already LBYM as much as we feel comfortable. The improvement we want to make to our house would definitely add value, and cannot be done incrementally. We'd take out a HEL to do it, but the hoops involved in that wouldn't be that cost effective and the terms would be similar to the credit card.

The real drawback is that having revolving credit card debt negatively effects your FICO score, right?
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