Should i use my line of credit to pay off a $90,000 loan on my house" I cannot go full document.
David Reed is WalletPop's Mortgage Expert
If you would be reducing your total interest paid, I would think it might be a good thing to consider but remember you're simply transferring equity.
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I would not use your line of credit. Have you done any credit consolidation, since you are planning on paying one loan with another?
The only way it's good to borrow money to pay off a loan, is if the new loan is at a lower rate of interest than the old one.
Yes you can use a credit card but just make sure that u choose the right bank's credit card which offers u less interest rates and other facilities in case of exceeding the time period. I would suggest of Citibank credit card as it offers you the best options. Check this site for more information
https://www.citibank.com.sg/SGGCB/APPS/portal/loadPage.do?tabId=home&path=/promo/det/cb_promo08.htm
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