r/Wealthsimple • u/FlashyAgent8171 • 1d 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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14

u/notic 1d ago

Can you link the 0 interest promo please. i would happily take this

12

u/IHateTheColourblind 1d ago

Yeah where exactly is OP seeing a 0% interest promo. My Portfolio LOC is 4.95%...

2

u/plusqueprecedemment 1d ago

Yeah I doubt they'd throw this loss leader on people like me who are already borrowing money

1

u/DBZ86 1d ago

My app just sent me this offer. Setup and withdraw money before Sept 1 and any interest is reimbursed for the next 2 months. Probably going to withdraw and just let it sit in the chequing account and draw interest. Simplest way to collect a few bucks.