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PEN FED Share Certificates
11-08-2012, 09:36 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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PEN FED Share Certificates
Penfed must be running a promotion on their 1,2 and 3 yr share certificate rates.
1 Yr APR is 1.26
2 Yr rate is 1.36
3 Yr rate is 1.61
1 yr rate was .9 last time I checked
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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11-09-2012, 04:52 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: The Bay Area
Posts: 2,736
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I just got the same PenFed email. All 10-20 BPs higher than what I find on Bank Rate Monitor and with much smaller min deposits.
Do these function just like CDs? Are they insured?
__________________
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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11-09-2012, 05:51 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,071
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 Quote:
Originally Posted by Huston55
Do these function just like CDs? Are they insured?
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Yes. Federally insured through NCUA.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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11-09-2012, 06:30 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,183
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I still get better return rates by combining Amazon Payments with a 2% rebate credit card, don't tie up my cash in the process, and get the 2% returns on a monthly basis, instead of annually.
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11-09-2012, 06:33 AM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,363
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Quote:
Originally Posted by HawkeyeNFO
I still get better return rates by combining Amazon Payments with a 2% rebate credit card, don't tie up my cash in the process, and get the 2% returns on a monthly basis, instead of annually.
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Tell me more.
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11-09-2012, 06:52 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,183
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Quote:
Originally Posted by pb4uski
Tell me more.
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Go here to open a credit card account, and then repeat for your spouse:
https://www.pricelinerewardsvisa.com/
This gives 2% cash back. Even more for some Priceline purchases.
Then take your new credit cards and go here:
https://payments.amazon.com
Send each other $1000 (monthly maximum using a credit card). No fees, the money deposits in your account in about 2 or 3 days. Repeat every month.
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11-09-2012, 04:23 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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Quote:
Originally Posted by HawkeyeNFO
Send each other $1000 (monthly maximum using a credit card). No fees, the money deposits in your account in about 2 or 3 days. Repeat every month.
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Please clarify, as the Amazon site states "You cannot add funds to your Amazon Payments account by using a credit card. "
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11-09-2012, 04:54 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,183
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On their site, don't try to add funds to an account. Instead, click on "send money."
You and your spouse will each need to have an account set up to receive the payment.
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11-09-2012, 05:57 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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thank you
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11-09-2012, 06:33 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Aug 2011
Posts: 3,602
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Doesn't Amazon Payments charge 2.9% of the transaction if it is done with a credit card? Am I misreading this page?
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11-10-2012, 06:28 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,183
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Yes you are misreading it. It says right on that page that there are no fees for sending payments using Amazon Payments.
I've been doing this for a long time, never had an issue. If you need more info, I recommend checking out what people have discussed at FatWallet Finance.
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