its a preapproved loan

this is literally spam mail

It's actually supposed to be the confirmation letter for a unsecured line of credit..I went to the bank to cash a check last week and the teller told me that my banking habits were conservative enough to be approved for a line of credit..I feigned interest and then this showed up in the mail and my online banking says I'm good to take 10k cash out..was just wondering if 7.69% is a good rate or not

Not really a great deal, good rate for a personal loan but you shouldn't use it. Just take it as a sign you have reasonable credit.

>>1347541
Take it if it's a LoC. just don't use it.

>>1347541
ah that makes more sense. regardless, they push these things on you to benefit themselves, else why would they go through the effort?

if you, for whatever reason, needed the line of credit than sure. but it's not wise to open an additional line of credit if you don't have intention to use it.

im sure you knew this and just inquiring about the rates, but yeh. rates good but not enough to jump on it, you can get that rate down the road or better if you actually need a line of credit assuming your habits stay well.

>>1347586

Cool this is my first line of credit actually..I accepted it I suppose because I don't have health insurance and last summer I had to borrow 1500 dollars at 19.99% to fix my teeth and I didn't want to go through that again..plus I just bought my first car recently and if something goes bad I don't want my savings to get wiped in one go so I needed something better then a visa for emergencies

Cool cash that bitch and drop it in Trumpcoin. Why wait to be rich?

>>1347659
kek

>>1347553
>7% interest

>get loan
>buy 10k worth of mgt
>pay back loan
>profit

>>1347659
this desu

>>1347553
>Take it if it's a LoC. just don't use it
Most letters of credit have ridiculous fees. Establishment fees, carry fees, non-use fees, and termination fees.

Unless OP has a very specific reason for needing this (doubtful) then this is a bad financial choice.

>>1347863

Idk..this is through my bank and was told that the only fee I have to pay is monthly interest..if i don't use i don't pay

>>1348075
you sound laxidasical as fuck about your finances, you're gonna get boned bro. guarantee there is an annual fee, at the very least.

put a down payment on a BMW brah

life will sort itself out

>>1347659
LOL

Over seven percent?

That's robbery

>>1347505

If that's a Line of Credit it's generally good, since unsecured LOCs are the most scrutinized loans a bank will loan you.