Home equity loan vs. HELOC: Which option is right for your credit card payoff plan?

With credit card APRs still above ~21%, many homeowners are using home equity to replace high-rate debt with much lower-cost borrowing.
A home equity loan gives a lump sum at a fixed rate and predictable payments — ideal for a fixed balance and peace of mind.
A HELOC is a flexible, revolving line (usually variable-rate) — handy if you need ongoing access but riskier if rates rise or you’re tempted to borrow more; both options use your home as collateral.