text: should i keep my debt on a low interest credit card or use my home equity for a loan to pay off.?? hi i have about $20000 in credit card debt that i have been conscientiously willowing down for a bit now. i plan to have it down to 0 in about 1 year and a half. presently it is spread amongst 3 credit cards..two have 3.99% and one of them is at 1.99%...all until about august or so..then i imagine i can transfer them around again. my question is ..i have enough equity in my coop to be qualify for up to a $60,000 equity line of credit...at prime plus "0" ---i'm not sure if it is to my advantage to use this equity line of credit to pay off my credit card debts...provided i apply for it. i've heard that the interest is deductible..would this make the decision a slam dunk obvious one??or are there other factors to consider.. i think prime is at 7%? now? thanks for your help.  george i have been reading so much about credit.  on many documents that i have read it's good that you have the balance spread out on all your credit cards.  the equity loan that you would get will be at a higher interest rate, so the best thing that i would probably suggest is to possibly  find a way to increase your credit score to possibly 720 or higher and then refi your home loan, because you will be able to get a better interest rate than consider paying off those balances with a lower interest rate.   p.s if you need more info on credit, i can defenitely give you some info..