Should I use my Credit Line?

[Anonymous]

I ave had some recent emergency expenses and maxed out a credit card and wondering if using my existing Home Equity Credit Line is worth paying it off? What hurts my credit more? Higher Credit Card Balance or Higher Equity Line Balance?

[Anonymous]

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@Anonymous wrote:

I ave had some recent emergency expenses and maxed out a credit card and wondering if using my existing Home Equity Credit Line is worth paying it off? What hurts my credit more? Higher Credit Card Balance or Higher Equity Line Balance?

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IMHO-
Having a single card maxed out can hurt your FICO.

Is there a charge to draw on the line of credit?
What APR is lower?
Can you transfer part to a 0% transfer CC?

5000 on a 8000 CC hurts worse that 5000 on a 50,000 LOC.

[CreditDrama85]

maxed out credit card is worse. it can sometimes hurt more than late payments. if you have several cards over 50%, time to consider your options if you think paying them via your paycheck wouldnt cut it.