End of Year CD Deals

[audreyh1]

Quote:

Originally Posted by jazz4cash NASA FCU has an 11 mo IRA/taxable CD at 2.25apy. 20k min 49 mo IRA/taxable CD bumped to 2.40 apy 5k min

Wow - 11 month 2.25% - not bad!!!

The 2 year treasury is climbing fast. It touched 2.2% this morning.

I’m guessing we’ll see Fed Funds rate increase at least 0.75% this year, so cash (high yield) accounts should be yielding 2.25% by year end.

[Mango1956]

My 3% Pen Fed CD is expiring the end of this year. Hoping by then I can reup at 3% or better.

[ShokWaveRider]

Quote:

Originally Posted by Mango1956 My 3% Pen Fed CD is expiring the end of this year. Hoping by then I can reup at 3% or better.

I have a sneaky feeling a lot if us are in the same canoe.......

[jazz4cash]

Quote:

Originally Posted by Mango1956 My 3% Pen Fed CD is expiring the end of this year. Hoping by then I can reup at 3% or better.

Navy Federal still has 15 and 32 mo specials with an add-on feature. They pay 2.25 and 2.75. I'm using these as placeholders in case something better doesn't come along. I'm pretty much maxed out on fixed and I even use the longer term stuff in lieu of bonds.

[me228]

If you do stay with PenFed be sure to take into account their new early withdraw penalties. Certificates Having a Term Greater Than Six Months.

a) If redeemed within the first year, all dividends will be forfeited.

b) If redeemed thereafter, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned.

[MJ]

PFCU has gone down the drain over the last few years. I got a whole bunch of PFCU money maturing in December. The only good thing I have from them is their old CC that I get 5% cashback. The only (good) problem is that I only spend about $25 to $35 a month on gas.

[pb4uski]

Yeah, I suspect that there will be a giant sucking sound at PenFed in the fourth quarter of this year unless they pull a rabbit out of their hat and offer some attractive rates... I hope that they are ready for it.

[REWahoo]

Quote:

Originally Posted by pb4uski Yeah, I suspect that there will be a giant sucking sound at PenFed in the fourth quarter of this year unless they pull a rabbit out of their hat and offer some attractive rates... I hope that they are ready for it.

Not only that, the 30% early withdrawal penalty mentioned above seem excessive. It will take some really attractive rates for me to stay.

[copyright1997reloaded]

Quote:

Originally Posted by pb4uski Yeah, I suspect that there will be a giant sucking sound at PenFed in the fourth quarter of this year unless they pull a rabbit out of their hat and offer some attractive rates... I hope that they are ready for it.

Yep. I have two CD's maturing 12/18 and two 01/19. All will leave Penfed unless they become competitive.

[audreyh1]

Quote:

Originally Posted by REWahoo Not only that, the 30% early withdrawal penalty mentioned above seem excessive. It will take some really attractive rates for me to stay.

Yeah - as high yield savings and MM funds catch up, I’m not so interested in long commitments with high penalties unless the rate offered is high.

[CaptTom]

Quote:

Originally Posted by MJ PFCU has gone down the drain over the last few years.

I first noticed when they went from a fixed cash back % on their credit card, to some phony "points" deal.

Instead of a simple batch job their own IT staff could manage with almost no effort, someone now has to manage a complicated points system. I'm pretty sure they're not doing it internally. No doubt it's some 3rd party.

They didn't do this for their customers.

The salesmen probably pitched it to PenFed management as a money-saving move; we'll con the mugs into playing this points game, and we'll split the take with you.

Once any business goes down that path, it's over. The customers are the enemy, to be taken advantage of at every opportunity. Usually the employees suffer the same fate. Kinda sad.

(They made me chose between the new points system, and any ONE category of cash back. I chose gas. That's the only thing I use the PenFed card for now.)

[MJ]

Regarding PFCU, I did take advantage of their 4 year .99% new car loan offer they had back in mid 2015 so I am still making 1/2+% on the the outstanding principal. I would have paid cash for the car but the loan was too cheap to pass up.

[Ready]

The Capital One 5 year 2.65% CD is not all that bad because you can terminate early with only a six month penalty. So if you put your money in for a year and then rates go up, you still will have earned 1.325% the first year, and you can then buy a CD with a higher rate after that. But if rates don't go up, you will earn a better rate than a one year CD would get you right now.

[braumeister]

Quote:

Originally Posted by CaptTom I first noticed when they went from a fixed cash back % on their credit card, to some phony "points" deal.

I kept that cash card, although it took a lot of will power to ignore their constant nagging to switch to points. I still get 5% cash back on gas, 3% on groceries, and 1% on everything else with that card, credited to my statement the same month.

Between DW and me, we buy an average of over $200 in gas per month, so that's around $250 per year, or ten free tankfuls.

So PenFed is still pretty good in my book. My mortgage (nearly paid off) is with them too.

[ShokWaveRider]

I hope PenFed is watching this thread. We have ~$2m that is going to make a small sucking sound in December if they have no alternatives.

[MJ]

Quote:

Originally Posted by braumeister I kept that cash card, although it took a lot of will power to ignore their constant nagging to switch to points. I still get 5% cash back on gas, 3% on groceries, and 1% on everything else with that card, credited to my statement the same month.

I've had my 5% gas cashback card for about 13 years.
Darn, I must have missed the cash card you have giving you also 3% cashback on groceries while I was living in Thailand.

[Slepp]

I'll have to do the math on the 2.65% on some C/Ds that are at 1.98% if they only have a 6 month penalty may pay to take the 6 month interest hit.
Slepp

[braumeister]

Quote:

Originally Posted by MJ I've had my 5% gas cashback card for about 13 years. Darn, I must have missed the cash card you have giving you also 3% cashback on groceries while I was living in Thailand.

Possibly. I've had this card for at least 23 years; that's as far back as my records go.

[brewer12345]

Yeah, unless PF gets its act together I will roll out CDs as they mature. Still have a slug in the 5% CD that matures at the end of 2020.

[jazz4cash]

Quote:

Originally Posted by Slepp I'll have to do the math on the 2.65% on some C/Ds that are at 1.98% if they only have a 6 month penalty may pay to take the 6 month interest hit. Slepp

Depositaccoints.com has an early withdrawal calculator on their site.