Is paying down your equityline with a lower interest credit card balance transfer a good idea

In my opinion its not a good idea to pay down an equity line loan using a lower interest credit card loan.

One reason is you lose your tax deduction as credit card interest is not deductable.

2nd reason is your payment on the credit card loan is based on a 7 year loan.

the equityline loan is based on a 15 year term.

That means the mininmum required monthly payment is lower on the equityline loan.

you also can pay more if you wish to reduce the principle owed.

So my main reason to not reduce an equityline loan is this.

You can either pay a lower tax deductable home loan payment and risk paying more in IRS taxes.

Or you can keep the higher payment and the higher tax deduction and use the low interest credit card loan to invest.

AS I DO