If you have a HELOC but don't use it--often at least--do you pay an annual fee just to maintain it? I opened one last May to borrow a small amount of money for a kitchen remodel; it will be paid back by next March. There's a $75 annual fee to maintain the HELOC. I'm on the fence about continuing it because a) I'm constitutionally opposed to annual fees like that, and b) it might make it too easy to borrow money in the future. On the other hand some seem to advise that it is a good idea to hold onto a HELOC. Interest is variable starting at 4.2% (although I got 3.4% this first year).
What to do?
What to do?