No Fee, Fixed Rate Personal Loan

[Dan Shelhamer]

I receive multiple of these letters in the mail every week about "Pay off credit card debt with a no-fee, fixed rate personal loan".  It always says I'm pre-approved for anywhere from $35k-$75k.
Has anyone every used these in lieu of a hard money lender or private funding? Just wondering about the pro's/con's of these. The interest rates say fixed rates as low at 5.74% (rates range from 5.74% to 28.74%) with no pre-payment penalty. Seems like it would be half the cost of using a hard money lender to do either Fix & Flips or BRRRR's if you get a rate around 6%.