Can I use a balance transfer to pay off my Home Equity loan?

The best way to pay off debt and raise your credit score is to repay balances with the highest interest rates first. This will reduce the overall cost of repaying the debt and make the task easier because the total amount you owe won’t be growing as fast. Always make at least the minimum payment due for each balance every month, though. Keeping all accounts current will help raise your score, or at least prevent...

You can pay a line of credit with a credit card using a balance transfer, cash advance, mobile payment service or money order. It is not possible to directly charge a line of credit payment to a credit card, though, as issuers do not want you to consistently borrow to pay off borrowed money.

Ways to Pay a Line of Credit With a Credit Card

1. Balance transfer

   A balance transfer is the...

Yes, you can transfer your HELOC balance to a BankAmericard credit card, as long as the HELOC account does not belong to Bank of America.

Just keep in mind that you cannot request a transfer amount higher than your credit limit. You can make the transfer request when completing the application. You can also do it after you’re approved for the card, by calling customer service at (800) 732-9194.

Please note that a balance transfer comes with a 3%...