Date: Tue, 27 Sep 2005 08:50:03 CST
From: "herlihyboy" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Credit card vs. home equity loan?
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tufflaw@gmail.com wrote:
> Hello, I'm trying to get some advice.  I am looking into taking out a
> $15,000 home equity loan to lower my interest on a current debt.
> However, I believe I can get a much lower rate via some of my credit
> cards (currently do not carry any balances).  Would it be wiser to
> simply charge the $15,000 rather than take the loan in order to save on
> the interest?  Or is the interest on credit card debt calculated
> differently such that it would end up costing me more over the long
> run?  Thanks for any advice!

Be careful with this.  If you get behind on a credit card, it dings
your credit.  If you get behind on a HELOC, you have put your house up
as the collateral.