PEN FED Share Certificates

[jimnjana]

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

 

[Huston55]

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?

 

[Dawg52]

Do these function just like CDs? Are they insured?

Yes. Federally insured through NCUA.

 

[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.

 

[pb4uski]

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.

Tell me more.

 

[HawkeyeNFO]

Tell me more.

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.

 

[d]

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.

Please clarify, as the Amazon site states "You cannot add funds to your Amazon Payments account by using a credit card. "

 

[HawkeyeNFO]

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.

 

[d]

thank you

 

[gauss]

Doesn't Amazon Payments charge 2.9% of the transaction if it is done with a credit card? Am I misreading this page?

 

[HawkeyeNFO]

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.