The benefits of a Chase home equity line of credit include tax-deductible interest, no closing costs, discounted interest rates for Chase banking customers and online banking access, according to Chase. The payments for a home equity line of credit are also usually lower than credit cards or other debts, which makes it a possible option for those looking to consolidate consumer debt.
Customers can also choose to have their funds put on a Visa card for easy access. Chase also offers customers the option to lock in their interest rates during the home equity line of credit draw period. This means they do not have to worry about fluctuating payments or the risk of interest rates rising in the future, as stated by Chase.