u/dashelit

Wondering if anyone has feedback / experience with having WS LOC?

I have a LOC with Tangerine from many years ago, I never used it at all but thought it's good to have it there for just in case. I signed up also because it was a prime or something like that, but now they put the rate at something ridiculous like Prime + 4 or whatever.

I noticed in my WS account I can have Portfolio LOC supposedly at 3.95% rate ... up to ~35% of portfolio - which given that I never had to use my LOC anyway, it would be enough room for me to have a "just in case" LOC.

Any downside? I think it's the same and still doesn't cost me anything to have it standing there?

I have a LOC with Tangerine from many years ago, I never used it at all but thought it's good to have it there for just in case. I signed up also because it was a prime or something like that, but now they put the rate at something ridiculous like Prime + 4 or whatever.

I noticed in my WS account I can have Portfolio LOC supposedly at 3.95% rate ... up to ~35% of portfolio - which given that I never had to use my LOC anyway, it would be enough room for me to have a "just in case" LOC.

Any downside? I think it's the same and still doesn't cost me anything to have it standing there?