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

Date: Wed, 02/27/2019 - 23:46

Submitted by Cathyrose
on Wed, 02/27/2019 - 23:46

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Total Replies: 4

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?

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.

lrhall41

Submitted by David Martin on Thu, 02/28/2019 - 21:22

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Yes, I agree with David.

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

lrhall41

Submitted by Mabelle Page on Fri, 03/01/2019 - 03:38

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Go for refinancing. Using a

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

lrhall41

Submitted by Sanders Patricia on Fri, 03/01/2019 - 05:03

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Absolutely not, it's a bad

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.

lrhall41

Submitted by Barbara Delinsky on Fri, 03/01/2019 - 04:02

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