What should I do with these rates?
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The best option seems to be the Home Equity Line of Credit. You can deduct the interest paid on it and there are no balance transfer fees. The best reason if that the rates don't usually go from 8% to 30% like how they do on credit cards. All in all, credit cards just suck.
What should I do with these rates?If you can consolidate that god awful 20 percent balance, either by paying that off first or transfering a partial balance to the discover card. Home equity loan is a long term debt, but get rid of the high APR visa balance first!
What should I do with these rates?Pay the mininum on the discover since it has the lowest interest.
Pay the visa off ASAP very high rate. I suggest calling VISA and claim a hardship (tell them whatever you want) ask to be put on a payment plan the finance charges are killing you and you won't beable to pay them a thing unless they help you. They may suspend your account for a few months and finance charges. If they do pay as much as you can!
As far as the home equity loan goes, pay the normal payments on that . A "home debt" is "a good debt".
Get rid of the VISA!! Whatever you do do not close either credit card, you need them to help your credit score.
What should I do with these rates?Transfer the Visa to a new 0% for 12 months card. Do the same for the Discover when the 0% is over. Interest costs will well exceed any balance transfer fees. Just keep paying the Loan, since Interest is deductible. Don't consolidate everything into a new Home equity loan, if you can't keep up with the payments, you lose your home.
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