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Taking out a 15k CC loan to stack more sats

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Yes, you read it correctly, Diamond Hands Degen is here.

tl&dr: I just recently took out a 15k Credit Card Loan to buy sats at 7.99% APR with a 12-month fixed repayment schedule. The monthly payment is about ~1.3k which I can easily afford. I do have the extra cash reserve ready at hand (50k~ in cash + t-bills) but I thought why not stack extra sats with useless fiat?

So I was doing my bi-weekly routine of managing my finances, in other words, I was just staying humble, stacking sats, and screwing the banks (I dabble in Bank churning, oh yes I do, it makes me feel so great).

This is when I noticed that my Chase Sapphire Preferred CC (20k+ credit limit) offers a feature called My Chase Loan which will essentially let me take out a revolving line of credit against (and up to) my credit limit and pay back in equal monthly installments at fixed APR. No initiation fee, no early repayment fee, just plain interest.

Since this is tapping into my existing credit line, there's no new credit pull/inquiry, no new account, and only negative effect would be temporarily high utilization rate (but my overall credit limit is still high), which as soon as I pay off the loan my c/s would go right back up since utilization has no memory.

After crunching some numbers, here's terms offered to me, for a 15k loan.

1 year (12 payments) at 7.99% APR, total interest: $657.08

2 year (24 payments) at 8.99 APR, total interest: $1,444.86 or ~$722 per year

3 year (36 payments) at 9.99% APR, total interest: $2,421.75 or ~$807 per year

Since I could easily afford to pay back the loan at anytime, and this loan is insignificant compared to my total assets, I decided that it was almost a no brainer. Further analysis showed that I could essentially turn this into a forever loan (assuming the same or lower interest rate, wouldn't take on debt if interest goes up obviously).

I plan on diligently paying off each monthly payment, which would result in the loan being totally paid off in one year, then borrow again and rinse and repeat. Kinda feel like free money, but how could you not when BTC is the hardest asset known to man with a historically compounded annual growth rate of 40%+?

Could this go wrong??? I mean yeah sure BTC could go down in price temp., but I would've just lost some fiat paper, eat up the loss and repay the loan with my other cash reserve, then work harder to stack more sats. I really couldn't see any downside to this move, the offer is too good to let up, any laser eyes here want to help me out with what I am not seeing?

submitted by /u/Individual-Sir-6495
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