Whats a good current rate for a debt consolidation loan?

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I am consideirng consolidating my debt, I had a somewhat large credit card bill that I let get out of controll, but was and still am able to manage making more then the minimum payments. Well apparently one of my payments got in there a couple days late and they jacked my rate up to like 17.9%. Again I know that was my fault, but it happened and now i am thinking it would be cheaper and quicker to pay off my debt with a consolidation loan. I got something in the mail from MBNA. They are offering up to 25000.00 at the prime rate+.74%. From what i can tell the current prime rate is 7.5, plus the .74% and were talking 8.24%. I have good credit as it is, but its not perfect, so I may not qualify for that rate exactly, but say I can get it for under or at 9%, is that a decent rate?

 

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Also what is the differance between a loan and a line of credit? It is my understanding a loan is a one time thing where as a line of credit you can keep borrowing against up to the maximum amoutn allowed. Is this correct?