2nd Mortgage Story

Hey - I bought my house two years ago with a 100% financing, a loan granted 80/20. Both loans were fixed in 6.5% and 9% other. I received a notice by mail of my credit card company (Chase) if I can take stock of 2.99% until the loan is repaid. It would be a good idea to transfer my second mortgage on your credit card? With credit card interest is not tax deductible, mortgage interest deductible first or second. I'll let you do the math. (Incidentally, if there are two minutes late, 2.99%, the interest rate back to about 20%, and may do so "retroactively." I want to read the fine print carefully!) Joseph is correct and more likely to have a transfer rate of 3%. Read the fine print.