| Over the past several years, as home values have | | | | the highest limit. After deciding on which offer you |
| increased, so have the equity lines of credit attached | | | | choose accept, disregard or cancel the others before |
| to them. These lines of credit, which boasted, interests | | | | activating them. Submitting applications at once should |
| rates as low as 5 percent, are now edging toward 8 | | | | limit damage to your credit rating. |
| percent, making repayment of these loans a pricey | | | | At this point you would move the desired portion of |
| proposition. However, even in this environment of | | | | equity debt you wish to be interest free for the next |
| escalating interest rates there are credit cards offering | | | | year, with in your credit limit of course, to your new |
| 12 month zero percent introductory rates At this point | | | | credit card. It is highly recommended that you make no |
| it may be financially prudent to move some of this | | | | other charges on this card. Lastly, be aware of the |
| equity debt onto one of these credit cards. A move | | | | time when you transferred the debt, and be sure to |
| such as this could save you about $1,600 on a loan of | | | | pay it off within the allotted 12-month period, avoiding |
| $20,000. But there are some red flags. | | | | any possible penalties, even if you to place the |
| To begin with, issuers of these credit cards can’t | | | | remaining debt right back onto your home equity line of |
| assure you of the amount of a credit line until after | | | | credit. |
| you apply for the card, so I would recommend that | | | | Now sit back and enjoy the next year, interest free of |
| you apply for several and see which one grants you | | | | course!! |