Originally Posted by
gypsyardor
I'm definitely *not* ever planning on bankruptcy.
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!
With a cash out refinance, the bank will typically give you a check at closing. You can then use that money to do whatever you want. After you pay off your credit card you can close it by customer.
If your bank insists on paying off the CC directly because you would not otherwise qualify for your new loan you can close your CC now with a balance left on it. Then when you refinance the bank can pay that off and your report would still indicate closed by consumer.