Study undergrad again?

I have completed my undergrad study in computer engg (in 2004), but I want to go for animation as my career so I am planning to study animation at degree level course. Now I have 2 choices:

  1. I can apply as Undergraduate transter student for BFA animation or
  2. I can apply for MFA animation

Now MFA admission is going to be tough for me or it will take some time for me to build a sensible portfolio for MFA application.

For undergrad trasfer I already got reply from uni that I am accepted and got a good scholarship. My credit evaluation is still left though. I am still planning to send my updated portfolio with some animations for them to reconsider for MFA. But I am not sure how long it may takeā€¦

So does really degree matter here for me? Because if I am given 12 or more months of credit value for my credit evaluation, I get to study 3 or less years for BFA.

What do you guys feel??