Want Home Equity Loan Transferred to Credit Card
Guest: TomfromCT
Credit Expert (100+ Posts)
Post subject: Want Home Equity Loan Transferred to Credit Card
Posted: Sun Apr 09, 2006 7:08 pm
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
_________________
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Average FAKO score: 703
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Guest: Tack
Posted: Sun Apr 09, 2006 8:34 pm
TomfromCT wrote:
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
I ve only had this account since OCT 2005. It was my understanding that if I kept the account open after paying off the balance, then I would still have monthly interest only payments....Am I wrong about this?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Apr 09, 2006 9:05 pm
Tack wrote:
TomfromCT wrote:
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
I ve only had this account since OCT 2005. It was my understanding that if I kept the account open after paying off the balance, then I would still have monthly interest only payments....Am I wrong about this?
What would happen if you paid it down to like $500
Could you make like $10 payments???
(to avoid the $300 fee)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Apr 10, 2006 10:12 am
Interest-only payments on a $0 balance are $0 per month.
Don't pay $300 for no reason.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Mon Apr 10, 2006 10:54 am
Mine is interest only for 5 years.
But if it gets paid all off they could consider it closed and bill you the three hundred....
So kep a small balance to avoid the closing fee.
Tha right mouse...pay it down to a low amount... once in a while write a check from that account and then BT it out.
_________________
Average FICO score: 709
Average FAKO score: 703
56 Months of perfection
WOOOHOOOOOO !!!!!!!!!!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Want Home Equity Loan Transferred to Credit Card
Posted: Sun Apr 09, 2006 7:08 pm
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
_________________
Average FICO score: 709
Average FAKO score: 703
56 Months of perfection
WOOOHOOOOOO !!!!!!!!!!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Tack
Posted: Sun Apr 09, 2006 8:34 pm
TomfromCT wrote:
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
I ve only had this account since OCT 2005. It was my understanding that if I kept the account open after paying off the balance, then I would still have monthly interest only payments....Am I wrong about this?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Apr 09, 2006 9:05 pm
Tack wrote:
TomfromCT wrote:
We have that same loan with Countrywide....
Transfer most of the balance to the cc....
DO NOT CLOSE OUT THE ACCCOUNT!
The 300 fee is gone as long as that account stays open for three years.
Have you had it three years yet? (your terms may vary)
I ve only had this account since OCT 2005. It was my understanding that if I kept the account open after paying off the balance, then I would still have monthly interest only payments....Am I wrong about this?
What would happen if you paid it down to like $500
Could you make like $10 payments???
(to avoid the $300 fee)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Apr 10, 2006 10:12 am
Interest-only payments on a $0 balance are $0 per month.
Don't pay $300 for no reason.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Mon Apr 10, 2006 10:54 am
Mine is interest only for 5 years.
But if it gets paid all off they could consider it closed and bill you the three hundred....
So kep a small balance to avoid the closing fee.
Tha right mouse...pay it down to a low amount... once in a while write a check from that account and then BT it out.
_________________
Average FICO score: 709
Average FAKO score: 703
56 Months of perfection
WOOOHOOOOOO !!!!!!!!!!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 5:35 PM
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