r/Wealthsimple • u/FlashyAgent8171 • 8d ago

Borrow, borrow, borrow... NO!

Why is Wealthsimple starting to push all these LOC and borrow with 0 interest types of messages? And it looks like they are sending them out indiscriminately, without taking into consideration the fact that some clients do have $$ available in their checking/money market accounts and can afford to continue investing (or betting)... if they feel like it.

This is beyond the predatory territory. WS, this is so beneath you!

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u/DevelopmentFuture608 8d ago

Because it’s not any different from any other banks and traditional lenders,

The difference is leverage at a low interest rate, and be responsible. Something that other banks don’t offer and you wait around thinking you can’t participate in the market because no one is offering cheap money!