This equity line of credit pymt is steep for me. Rec%26#039;d offer for credit card 2.99APR fixed for life. (1st Natl Bank of Omaha) Is it better to open the credit card with the 2.99 for life? The int. won%26#039;t be tax deduct. but the pymts should be more manageable. My firs mtg has 5.99 fixed %26amp; I%26#039;m 4 yrs into it. I think I should keep it as is. Thanks for any advice.
$ dilemma: what to do w/ a 30K eq line of credit@8.5%?inflation rate
2.99 apr sounds too good to be true. Banks are paying the Fed 5% for short-term borrowed money. Better read the contract, including the fine print, with a magnifying glass. I can see 2.99 over the prime rate, which is a common practice.
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