Loans Answers

Lowest interest, help?

Question: I have finally convinced my husband to cut up his credit cards so we can work on whittling down his 10k card debt. We would like to transfer the debt to a low interest rate card, the lowest we can find. Does anyone have a suggestion where we might be able to find such a card? I heard there are some banks in Arkansas with low rates. If you know of such a bank, please let me know. Or, does anyone have a better suggestion for getting these debts paid off?

Answer: Another suggestion, should you be able to do this, is a home equity loan. They’re pretty easy to get around these parts (Milwaukee) and are low interest (IIRC, currently 6.5% at my bank) and the interest may be tax-deductible. I don’t know how easy something like this would be for you, but it might work, and it’s a lot cheaper than more credit cards.

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Filed under: Home Equity Loan