@SeattleBorn wrote:
I've been approved for a $40k Amex personal loan at 5.9%. It amortizes over 3 years with monthly payments. I am considering this as I can use some cheap cash and to avoid selling some stocks that return much more than the interest I will be charged.
I also have been preapproved for a Chase Freedom Unlimited with a $200 bonus and 0 % for 15 months on new purchases and card transfers.
812-815 TU EX EQ
I only have 1 hp in the last year that was done last month when i got a OBEE Visa.
Any downsides to my moving forward on both of these?
The only downside I can see is the hit your score will take for a while on the loan. The real interest rate will be close to zero assuming your income can keep up with inflation over the short and intermediate term. Absent any other developments, once you have the loan more than half paid off, you should recover to your present score. As was mentioned earlier, absent any more specific info, it's hard to comment, but from a general macro level, if your investments can outperform the 6%, that's a good rate for an unsecured loan.
