Also super happy I locked in the 2.8% GTE 3yr add-on CD last August. Rolled $$'s from a maturing Navy FCU 3.25% into it last week so didn't lose to much interest. I intend to fill the GTE up to the insured max as CDs roll off the ladder.
American Express High Yield Savings Account drops to 1.0% from 1.15% effective today. Unlike buying a 1% CD, these accounts are variable rate and can change at any time. Right now it looks like Amex has been adjusting their rate about once per month.
- Rita
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Combine that with the incredibly low rates for cash and bonds, and I'm seriously considering paying off one of the mortgages. The rate is 3.875%, which is pretty darn low, but I can't match it anymore. Unless I invest in equities, which I am expecting to tank for a significant period of time. Whether I'm right or wrong doesn't really matter, since it's too risky for me.
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Hi All. Am coming close to receiving my bonus offer for the CapitalOne 360 offer and am looking for my next promotion for my cash possession. Was considering the Citi $700 promotion for holding $50K for 60 days. It seems to be the best one I can find. Any other recommendations or comments about the Citi offer?
https://banking.citi.com/cbol/check...1&ProspectID=F6F4BA3F9DF644DEA2DC6F97E9EE42F2
Seems like a great offer. Didn't see any catches.
Effective 8.4% rate for 2 months.
Thanks for having a look! I too think it seemed quite straight forward. They do note that it could take up to 90 days after the 60 day period to provide the promotion payment, and if you have less than the 50k in linked accounts (after the 60 days) they will charge you a monthly fee. I do not have anything else at Citi. I'm not sure if I could product switch after the 60 days to a lower tier account..and still be eligible for the promotion payment. I may inquire about that.
Any other recommendations or comments about the Citi offer?
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Thanks for having a look! I too think it seemed quite straight forward. They do note that it could take up to 90 days after the 60 day period to provide the promotion payment, and if you have less than the 50k in linked accounts (after the 60 days) they will charge you a monthly fee. I do not have anything else at Citi. I'm not sure if I could product switch after the 60 days to a lower tier account..and still be eligible for the promotion payment. I may inquire about that.
I looked at the Citi deal last fall and decided at the time that it wasn't worth it as the interest rate on the savings account that you needed to open was very low, compared to Citi's high yield savings account, which does not qualify as one of the two accounts you must open. Also assuming you move the money out as soon as possible, I would be assessed monthly maintenance fees unless I leave at least $15,000 in the accounts until the bonus is paid and you move all the funds out. At the time I didn't like getting practically nothing as a rate of return when I was receiving over 2% at Ally.
Now however, with HY rates low everywhere, it's more about the cash bonus. The $700 (less up to 3 monthly maintenance fees) looks pretty attractive. Will mull over doing this to see if it's worth all the hoops I'll have to jump through.
Do you know offhand what the monthly fees are?It is also getting to where the monthly online savings % is closer to the monthly maintenance fee, i.e. leave the monies in there for 5 months to avoid the fees.
Ditto. We opened the 4 year at GTE last year at 2.94% for 4 years and added the funds from our Navy Fed CD 3.25% which matured this week. Will add to it each year as our ladder matures until 2023 unless of course rates return to previous competitive terms.
Thanks for the reminder about the GTE account I opened. I just added my checking account to send them some $$$. Anyone know what the limit is for inbound $$$ transfer w/ GTE?
Do you know offhand what the monthly fees are?
I've concluded that for me it's not worth it, as the $50,000 would be coming out of an Ally no penalty CD paying 1.95%. The maintenance fee at Citi is $30 a month if keeping less than the $50,000 in for the 5 months that I would need to(60 days then 90 more days). So either a net bonus of $580 to $610 depending on the number of full months to avoid the maintenance fee. I then would not have the same 1.95% to put the money back into. Others may make a different choice depending on where the money is currently and what it is earning.