Paul W asked:
I currently have a 10.5% Home equity loan but would like to get a lower rate. Since there is much less equity in my home today than when I purchased, I would need to pay half the balance to get a HELOC at 5.5% and achieve the necessary LTV of the home. I was thinking about transferring the necessary amount to a low interest (fixed for the life of the balance) credit card. Does anybody see a problem with this?
I currently have a 10.5% Home equity loan but would like to get a lower rate. Since there is much less equity in my home today than when I purchased, I would need to pay half the balance to get a HELOC at 5.5% and achieve the necessary LTV of the home. I was thinking about transferring the necessary amount to a low interest (fixed for the life of the balance) credit card. Does anybody see a problem with this?
I have excellent credit and no problems making payments.
Credit Report
Tags: Heloc, Home Equity Loan, Low Interest
2 responses to Are there negatives when transfering balances from a high rate HE loan to a low rate card card?
Click here for Retail Heaven!
Shifting debt is never a good idea. But shifting to special credit card offers comes with a list of potential problems.
First, if you are every late on a payment (even for another creditor) or your score slips, the credit card can change the interest rate to the default rate. I’ve seen many horror story of folks shifting large sums onto special low rate offers only to find themselves with 29% interest.
If you do go with this option, plan on paying off the credit card as quickly as possible, even if the interest rate is lower. Hopefully you won’t be shifting tens of thousands to the credit card.
Another thing to consider, a large part of your score is based on the ratio of revolving debt to available credit limit. Shifting part of that HELOC to a credit card will probably make you balance well over the 30% mark which will adversely affect your score. Your other credit cards might increase your interest rates over this.
Are there negatives when transfering balances from a high rate HE loan to a low rate card card?
Instant Auto Insurance Quote
Just a little bit more to add to the first answer.
You do realize the credit card companies charge a transfer fee. Usually 3% of the loan.
101 Trackbacks / Pingbacks to
ROY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 29th, 2011 at 18:16
Buy@Discount.Abilify” rel=”nofollow”>……
Buywithout prescription…
EDUARDO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 29th, 2011 at 18:41
Order@Abilify.Online” rel=”nofollow”>.…
Buynow it…
TERRENCE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 29th, 2011 at 20:42
Purchase@Discount.Abilify” rel=”nofollow”>..…
Buyit now…
SALVADOR Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 30th, 2011 at 00:19
Purchase@Abilify.Without.Prescription” rel=”nofollow”>..…
Buygeneric meds…
JEFFREY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 30th, 2011 at 15:32
Order@Cheap.Acai” rel=”nofollow”>……
Buynow it…
TRACY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 30th, 2011 at 17:25
Order@Discount.Acai” rel=”nofollow”>……
Buywithout prescription…
WALLACE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 31st, 2011 at 10:55
Purchase@Generic.Acai” rel=”nofollow”>……
Buygeneric drugs…
DUSTIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 31st, 2011 at 15:33
Cheap@Acai.500mg” rel=”nofollow”>..…
Buygeneric drugs…
DONNIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : July 31st, 2011 at 20:18
Buy@Discount.Coral.Calcium” rel=”nofollow”>..…
Buywithout prescription…
BRANDON Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 1st, 2011 at 10:37
Buy@Cheap.Abana” rel=”nofollow”>..…
Buyno prescription…
FRANKLIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 2nd, 2011 at 07:26
Buy@Discount.Coral.Calcium” rel=”nofollow”>.…
Buygeneric meds…
EDUARDO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 3rd, 2011 at 04:52
Buy@Discount.Abilify” rel=”nofollow”>..…
Buygeneric pills…
PERRY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 3rd, 2011 at 15:16
Buy@Abilify.5mg.10mg.15mg.20mg.30mg” rel=”nofollow”>……
Buywithout prescription…
WILLIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 3rd, 2011 at 22:31
Buy@Discount.Acai” rel=”nofollow”>……
Buygeneric drugs…
KIRK Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 3rd, 2011 at 23:00
Buy@Discount.Acai” rel=”nofollow”>……
Buynow…
RICARDO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 4th, 2011 at 00:10
Order@Acai.Online” rel=”nofollow”>..…
Buydrugs without prescription…
CHARLIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 4th, 2011 at 01:55
Order@Cheap.Acai” rel=”nofollow”>..…
Buynow it…
VICTOR Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 4th, 2011 at 18:57
Buy@Acai.Without.Prescription” rel=”nofollow”>.…
Buygeneric drugs…
TONY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 5th, 2011 at 07:52
Buy@Discount.Energy.Boost” rel=”nofollow”>.…
Buynow it…
BILLY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 6th, 2011 at 04:38
Cheap@Accupril.Online” rel=”nofollow”>.…
Buygeneric drugs…
SAM Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 6th, 2011 at 07:38
Buy@Cheap.Accutane” rel=”nofollow”>.…
Buygeneric drugs…
CARL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 6th, 2011 at 16:02
Cheap@Accutane.Online” rel=”nofollow”>.…
Buygeneric meds…
ADAM Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 7th, 2011 at 13:30
Order@Aciphex.Online” rel=”nofollow”>.…
Buyno prescription…
BRUCE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 8th, 2011 at 22:52
Cheap@Generic.Aciphex.20mg” rel=”nofollow”>.…
Buygeneric drugs…
SERGIO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 11th, 2011 at 00:28
Buy@Generic.Actonel.35mg” rel=”nofollow”>.…
Buyno prescription luw…
VICTOR Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 11th, 2011 at 02:08
Generic@Actonel.35mg.Without.Prescription” rel=”nofollow”>..…
Buygeneric pills zdg…
DARYL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 11th, 2011 at 05:27
Order@Cheap.Actoplus.Met” rel=”nofollow”>..…
Buygeneric drugs krg…
CLIFTON Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 11th, 2011 at 12:50
Purchase@Actos.Online” rel=”nofollow”>..…
Buygeneric meds qmo…
RODNEY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 13th, 2011 at 01:30
Order@Cheap.Coral.Calcium” rel=”nofollow”>..…
Buygeneric drugs lzt…
LLOYD Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 13th, 2011 at 13:25
Order@Cheap.Abilify” rel=”nofollow”>……
Buywithout prescription xiu…
MARCUS Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 13th, 2011 at 23:54
Buy@Abilify.5mg.10mg.15mg.20mg.30mg” rel=”nofollow”>..…
Buynow it vhx…
PHILIP Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 14th, 2011 at 05:11
Abilify@5mg.10mg.15mg.20mg.30mg.Without.Prescription” rel=”nofollow”>……
Buygeneric meds svb…
ALFRED Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 14th, 2011 at 07:29
Buy@Cheap.Acai” rel=”nofollow”>..…
Buyno prescription wkp…
BRUCE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 14th, 2011 at 09:36
Order@Acai.Online” rel=”nofollow”>..…
Buyno prescription jui…
LEROY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 14th, 2011 at 16:15
Cheap@Acai.Online” rel=”nofollow”>……
Buyit now sge…
MITCHELL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 15th, 2011 at 00:02
Purchase@Generic.Acai” rel=”nofollow”>..…
Buydrugs without prescription faj…
VINCENT Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 15th, 2011 at 21:17
Purchase@Cheap.Energy.Boost” rel=”nofollow”>.…
Buyit now ojb…
TRAVIS Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 17th, 2011 at 01:37
Buy@Cheap.Accutane” rel=”nofollow”>..…
Buyno prescription tao…
JASON Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 17th, 2011 at 11:25
Get@Accutane.Online” rel=”nofollow”>……
Buywithout prescription ccw…
BRETT Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 17th, 2011 at 21:34
Cheap@Accutane.Without.Prescription” rel=”nofollow”>……
Buydrugs without prescription jlg…
BRUCE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 18th, 2011 at 03:00
Cheap@Generic.Accutane.10mg.20mg” rel=”nofollow”>……
Buynow it zdg…
RONNIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 18th, 2011 at 05:10
Accutane@10mg.20mg.Without.Prescription” rel=”nofollow”>..…
Buygeneric drugs ajd…
BRYAN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 18th, 2011 at 18:19
Get@Aciphex.Online” rel=”nofollow”>.…
Buygeneric drugs nih…
EVAN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 19th, 2011 at 02:14
Purchase@Generic.Aciphex” rel=”nofollow”>..…
Buydrugs without prescription ygy…
MARVIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 19th, 2011 at 14:22
Aciphex@20mg.Without.Prescription” rel=”nofollow”>.…
Buynow it lmg…
LOUIS Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 21st, 2011 at 18:24
Order@Actonel.Online” rel=”nofollow”>……
Buynow fjl…
ZACHARY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 22nd, 2011 at 15:46
Buy@Cheap.Advair” rel=”nofollow”>.…
Buygeneric drugs axm…
ALVIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 24th, 2011 at 09:26
Buy@Advair.25mcg50mcg.25mcg125mcg.25mcg250mcg.50mcg500mcg.50mcg100mcg.50mcg250mcg” rel=”nofollow”>..< /blo…
Buygeneric meds dxy…
RUSSELL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 24th, 2011 at 10:41
Buy@Advair.25mcg50mcg.25mcg125mcg.25mcg250mcg.50mcg500mcg.50mcg100mcg.50mcg250mcg” rel=”nofollow”>…< /bl…
Buygeneric drugs vbr…
NICK Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 25th, 2011 at 04:42
Order@Discount.Aggrenox” rel=”nofollow”>..…
Buyno prescription lka…
ENRIQUE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 26th, 2011 at 11:06
coral@calcium.vitamin.explanation” rel=”nofollow”>.…
Buywithout prescription…
JOSE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 27th, 2011 at 12:20
aleve@cold.tablets” rel=”nofollow”>……
Buygeneric pills…
RUBEN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : August 28th, 2011 at 04:58
coral@calcium.supplements” rel=”nofollow”>……
Buygeneric meds…
greg Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : September 22nd, 2011 at 22:00
Download@pop.Rock” rel=”nofollow”>……
Search rock US Charts…
STEPHEN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 17th, 2011 at 18:08
warfarin zoloft…
Buy_drugs without prescription…
CHARLIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 17th, 2011 at 19:45
do cats carry ringworm…
Buy_generic meds…
TYLER Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 17th, 2011 at 21:30
stage 3 ovarian cancer…
Buy_drugs without prescription…
PATRICK Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 18th, 2011 at 00:46
recent advances in cancer breast…
Buy_now…
FREDDIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 19th, 2011 at 01:24
the process of methanogens metabolism…
Buy_drugs without prescription…
ROGER Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 19th, 2011 at 18:04
soft food diet ideas…
Buy_drugs without prescription…
MILTON Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 21st, 2011 at 13:37
tuna during pregnancy…
Buy_generic meds…
PEDRO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 22nd, 2011 at 07:59
ept pregnancy test…
Buy_generic meds…
DERRICK Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 23rd, 2011 at 14:32
market drugs edmonton…
Buy_now it…
JORGE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 24th, 2011 at 23:17
adult circumcisions and complications…
Buy_generic meds…
LESLIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 25th, 2011 at 00:59
adrenal cancer symptoms…
Buy_generic drugs…
KEVIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 25th, 2011 at 14:20
gestational surrogacy…
Buy_now…
FREDDIE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 25th, 2011 at 17:38
combination food diet…
Buy_drugs without prescription…
GORDON Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 26th, 2011 at 05:18
indigestion and chest pain…
Buy_now it…
ALLEN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 26th, 2011 at 07:03
buying prescription drugs in mexico…
Buy_now it…
ISAAC Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 26th, 2011 at 15:18
ultimate diet pills…
Buy_generic pills…
ANDRE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 28th, 2011 at 23:55
blood pregnancy test jacksonville fl…
Buy_generic meds…
HARRY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 29th, 2011 at 05:50
swollen ankles headache pregnancy…
Buy_generic drugs…
KYLE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 30th, 2011 at 01:50
decongestants hypertension safe…
Buy_now it…
JORDAN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : October 31st, 2011 at 06:55
canine kidney failure symptoms…
Buy_generic pills…
BRADLEY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 1st, 2011 at 19:37
insulin receptor inhibition…
Buy_without prescription…
AUSTIN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 2nd, 2011 at 07:14
questions about ortho tri cyclen…
Buy_generic drugs…
RICARDO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 4th, 2011 at 08:29
sample tlc diets…
Buy_generic drugs…
DONALD Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 5th, 2011 at 08:46
canine medi cam rx…
Buy_generic drugs…
JORGE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 5th, 2011 at 15:25
cancer chemotherapy combination drugs…
Buy_generic meds…
THEODORE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 6th, 2011 at 13:06
rebound phenomenon during gradual clonidine withdrawal…
Buy_drugs without prescription…
BRADLEY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 6th, 2011 at 19:45
kids weight gain…
Buy_generic drugs…
MICHAEL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 8th, 2011 at 03:25
100 mile diet store…
Buy_generic meds…
TERRY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 8th, 2011 at 06:45
social interaction anxiety…
Buy_without prescription…
NATHANIEL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 8th, 2011 at 12:14
list of anti anxiety drugs…
Buy_generic meds…
JIMMY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 8th, 2011 at 19:19
pain relief until root canal…
Buy_generic meds…
ZACHARY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 9th, 2011 at 01:58
glucose to insulin ratio metabolic syndrome…
Buy_drugs without prescription…
RANDY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 9th, 2011 at 05:19
at home diet programs…
Buy_generic pills…
LUKE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 10th, 2011 at 22:57
interactions with azithromycin and astragalus…
Buy_it now…
HARRY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 12th, 2011 at 03:18
how can i lower my cholesterol…
Buy_generic drugs…
STEVE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 12th, 2011 at 06:38
dog retching vomiting weight loss…
Buy_generic drugs…
MARION Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 13th, 2011 at 00:57
foods with triglycerides in them…
Buy_generic drugs…
ARTURO Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 13th, 2011 at 09:18
space herpes…
Buy_now…
STEPHEN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 13th, 2011 at 15:57
advisory group on hepatitis uk…
Buy_no prescription…
DAN Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 15th, 2011 at 19:55
flat warts and probiotics…
Buy_generic drugs…
ENRIQUE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 16th, 2011 at 09:08
medicare drugs covered…
Buy_generic meds…
VIRGIL Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 16th, 2011 at 12:39
state of arizona ontiveros drug…
Buy_now it…
DOUG Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 16th, 2011 at 17:34
remeron dreams…
Buy_it now…
SHANE Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 17th, 2011 at 05:15
sample ncp for diabetes…
Buy_without prescription…
JIM Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 17th, 2011 at 06:56
fruity taste and diabetes…
Buy_it now…
TRACY Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : November 17th, 2011 at 11:58
what year was advil introduced…
Buy_now it…
jordan Comment on Are there negatives when transfering balances from a high rate HE loan to a low rate card card? : December 8th, 2011 at 18:47
Download@pop.Rock” rel=”nofollow”>.…
Buy rock US Charts…
Leave a reply to Are there negatives when transfering balances from a high rate HE loan to a low rate card card?