Share post
Debt Consolidation Forums Getting a loan or mortgage and avoid foreclosure forums

Can I use credit card to repay HELOC and then consolidate the CC debt?

member profile picture
Posts: 1
Credits: 0
[Donate]

I have a query. Can I use my credit card to repay my HELOC. and then can I use any consolidation method to pay back the credit card. Is this possible?




How much do you owe on HELOC? If you ask me, it's a terrible idea. If you owe a huge amount on HELOC, then can you imagine how much debt you'll incur on your credit cards? The interest rate on a credit card is huge. So your debt amount will be gigantic. Consider refinancing your HELOC.

Sub: #1 posted on Thu, 02/28/2019 - 21:22

David Martin David Martin

(Posts: 243 | Credits: )

Yes, I agree with David. refinancing your HELOC is a better idea. You can reduce the total interest payments by opting for refinancing.

Sub: #2 posted on Fri, 03/01/2019 - 03:38

Mabelle Page Mabelle Page

(Posts: 253 | Credits: )

Absolutely not, it's a bad idea. You jsut can not use your credit card to pay for the HELOC. The interest rate of a credit card is too high, and so as the amount of HELOC.
Refinancing is a better idea, go for it.

Sub: #3 posted on Fri, 03/01/2019 - 04:02

Barbara Delinsky Barbara Delinsky

(Posts: 432 | Credits: )

Go for refinancing. Using a credit card means losing hard-earned money on the interest.

Sub: #4 posted on Fri, 03/01/2019 - 05:03

sanderspatricia29 sanderspatricia29

(Posts: 1194 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


Page loaded in 0.781 seconds.