Now that I am just about to finish grad school, I am looking to consolidate my private student loans at Navy FCU and also possibly utilize an equity loan to consolidate my credit card debts all in the hopes of lowering interests rates. If I am able to achieve both of these, I can use the money I will be saving in interest to pay more towards them and get rid of them faster.
My question is, is it possible to get both of these types of loans at the same time and if not which should I tackle first? Also, unfortunately things were getting tight towards the end of school and I had to run up some of the cards beyond 90% utilization. Should I pay them down below 90% and wait for that to be reflected on my credit before applying?
Thanks in advance.
