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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: firstmatedavy on April 24, 2019, 12:51:10 PM

Title: Best line of credit for emergencies, other than home equity?
Post by: firstmatedavy on April 24, 2019, 12:51:10 PM

I'm considering reducing the size of my emergency fund to pay off debt sooner. My husband and I own our dwelling, but it's not a traditional house, so we wouldn't be eligible for a home equity line of credit.

I was thinking about getting a credit card for the lowest interest rate we can find, just in case (of a layoff, home repair or medical bill we can't cash flow, etc). We have a credit card for points that we pay off every month, but the interest rate is high. Are there any other options we should consider?

Title: Re: Best line of credit for emergencies, other than home equity?
Post by: Kierun on April 24, 2019, 12:53:03 PM

Maybe a personal line of credit (PLOC)