I'm definitely *not* ever planning on bankruptcy.
We're thinking of refinancing because the rates are a lot lower than our existing mortgage. Our home is worth a lot compared to when we bought it, also. So, we thought we'd do a cash out refinance and use the funds to do the remaining remodeling and landscaping.
We are very conscious of how we spend money/use credit. That's why I'm trying to think ahead and learn all I can before I proceed with anything.
I'm concerned that rolling the $20K credit that's currently at 0% (yes, I know it will cost us more in the long run for this part, but we're going to pay down the loan faster than normal, anyway) will show up on the credit card as:
* Balance transferred to loan (may be seen poorly by credit card companies)
* Credit card closed by loan company (not sure if it will show closed by us or the bank we get the refinance loan through).
I'm just asking here...if anyone has experience with the same thing and knows if a cash out refinance, with a credit card balance rolled into the loan, has shown up in a negative way to the credit card companies when they view your credit history before issuing new credit cards?
Thanks!