Home Equity Loan – Good Choice for Luxury Purchases?

Written by Charles Essmeier

Continued from page 1
with a home equity loan have come down in recent years, andrepparttar application process is much simpler than inrepparttar 150068 past.

The good points make it seem like a good idea, butrepparttar 150069 bad points are considerable. Most home equity loans have terms that extend quite some time, typically ranging from 5-15 years in duration. Do you really want to pay for a car for fifteen years? It is quite likely that you’ll still be paying for that luxury car long after it has gone torepparttar 150070 junkyard. The same applies to that aroundrepparttar 150071 world cruise, which will be long forgotten byrepparttar 150072 time it has actually been paid for. It may make sense to fund a luxury car with a home equity loan ifrepparttar 150073 term ofrepparttar 150074 loan is only five years and you actually plan to keeprepparttar 150075 car for that long. Otherwise, fundingrepparttar 150076 purchase with a more traditional loan would be a better choice.

Of course, if you have already maderepparttar 150077 purchases and you are maintaining a balance on a high-interest credit card, it might be wise to consolidate your debt with an equity loan. Trading a 20% loan for a 6% loan is certainly a smart move. The best advice for anyone considering funding a luxury purchase through a home loan would be to consult with a tax advisor.

©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation and credit counseling information and HomeEquityHelp.net, a site devoted to information on mortgages and home equity loans.

Cash Back vs. Rewards Credit Cards

Written by Joseph Kenny

Continued from page 1

Each kind of credit card reward has its own pros and cons, andrepparttar better choice depends on what’s most important to you.

Cash-back Rewards – Pros

Cash can be used anywhere, for any kind of purchase. Gives 1% - 2% cash back on all purchases.

Cash-back Rewards – Cons

Rewards points cards may give rewards of higher value, particularly for purchases at merchant networks stores, gas stations and supermarkets. Cash-back can only be used when a check is issued.

Rewards Points – Pros

Rewards points are often higher value than cash-back. If you userepparttar 150067 credit card for purchases made withinrepparttar 150068 merchant member network, you can get as much as 5% value back when you spend your reward points.

Reward points are available to use on a rolling basis. Some card companies may require you to accumulate a certain number of rewards points before redeeming them, but reward point rewards are often more easily available than cash-back rewards. Reward points can be used for cash rewards in some circumstances.

Reward Points – Cons

Reward points can only be redeemed from particular merchants and/or on particular merchandise.

Whichever your choice, it makes good sense to get something back when you choose to use credit. If you’re a frequent credit card user,repparttar 150069 rewards can certainly add up. Amongrepparttar 150070 merchants that belong to various Merchant Member networks are such well-known companies as airlines, Saks Fifth Avenue, Evelyn & Crabtree and Smarter Edge.

Joseph Kenny is the webmaster of the credit card comparison sites Credit Cards Info and also Credit Cards 121

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use