NLIC.org

Herbert Said:

Mortgage refinance?

We Answered:

If you miss a credit card payment, they'll scream and yell.
If you refinance your credit card debt by attaching it to your house, you'll be paying off your credit cards for the next 30 years, and then if you miss a payment, they take the house.

Get a copy of "The Total Money Makeover" by Dave Ramsey.
He explains a plan to never need credit cards again.
I'll summarize:

STEP 1: You're worried about emergencies. Good! Save up for them. Pay only the minimums on your credit cards for a month or two, until you get $1,000 cash saved. Withdraw the $1,000 as ten $100 bills, and buy a picture frame and get it engraved: "In Case of Emergency, Break Glass". Then put the Benjamins in the picture frame, and hide it in the back of the closet.

STEP 2: Once you have that cash saved, cut up your credit cards. Pay off the cards, just like you have been planning to. If you need to break your pretty picture frame, then go back to paying the minimums until you're back to $1,000 saved.

STEP 3: Finish your emergency fund. Continue saving the $700-$1000, and put it in a separate bank account (or buy a very large picture frame). When you have 6-months expenses saved (roughly $25,000), you'll be ahead of most people in the country.

STEP 4: Start saving for retirement. 15% of your income.

STEP 5: The kids' college fund.

STEP 6: Pay down the mortgage, until the house is paid in full.

STEP 7: Live like you're rich, because now you are.