Should One Use 0% APR Credit Cards To Pay The HELOC Down

Should One Use 0% APR Credit Cards To Pay The HELOC Down

The problem with most 0% APR credit cards is the limits are often quite low. If a card only has a $10K limit, it can only be used for a few months before its maxed out. This can be potentially negative if it is a personal credit card, due to the extremely high utilization rate of the card for multiple months. As long as one is avoiding high annual/membership fees to obtain the 0% APR card(s) or the cash back, points or miles make such an expenditure worth it. For example, Chase Sapphire Preferred gives large amounts of points yet only has an annual fee of less than $100.

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