I am doing a refi + cash out on a rental home. The cash out is to pay off ~24K in credit cards. I am aware of secured debt/unsecured debt and how it is often not a good idea to refinance a home to pay down credit card debt. I have done the math and it makes sense for me. My question is:
Should I allow the credit cards to be paid out of escrow in one lump sum? Or should I take the cash and pay the cards down over a few months. I have heard that it is better for your credit score to pay them down over time. Will it make much of a difference?
Edit in response to questions: All of my cards are around 13%. I have 3 cards with balances of: 11K (out of 12K), 9K (out of 10K), 4K (out of 6.5K). I am looking at a ~60K 30 year loan (yes, my principal is currently very small) I am going for a 30 year loan (rather than a 15) as I want some breathing room on my payments.