Montecfo
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They credited my check order at Truist. I just asked, no special status other than longtime customer.Same here from being a BOA Preferred Platinum customer.
They credited my check order at Truist. I just asked, no special status other than longtime customer.Same here from being a BOA Preferred Platinum customer.
I saw 4%, 5 year brokered CDs on Vanguard this morning. Problem is that they were callable. I am waiting to pull the trigger hoping for noncallable at 4% (or more).
Yup, no callable for me.
When I had that card, several years ago, they changed to points that were not worth 1 cent per point. It turned the 5 points into maybe 4.1 cents. Same with 3 points on grocery store. That went down to like 2.4 cents per point. I had used that card for years, but moved to other cards after that trick. Has it returned to cash back? When I looked it is still points.I’d love to hear about those. My utility bills are crazy. They charge fees if you pay with a credit card too. I don’t even know of another card as good as Penfed’s 5% cashback all-the-time statement credit for gas.
When I had that card, several years ago, they changed to points that were not worth 1 cent per point. It turned the 5 points into maybe 4.1 cents. Same with 3 points on grocery store. That went down to like 2.4 cents per point. I had used that card for years, but moved to other cards after that trick. Has it returned to cash back? When I looked it is still points.
When I had that card, several years ago, they changed to points that were not worth 1 cent per point. It turned the 5 points into maybe 4.1 cents. Same with 3 points on grocery store. That went down to like 2.4 cents per point. I had used that card for years, but moved to other cards after that trick. Has it returned to cash back? When I looked it is still points.
The card I had was 5 cents on gas 3 cents on groceries and 1 cent on all other. They changed it over to points, if I recall right, no option. They offered a 5 cent for gas only card, but I did not want one with a good reward on only one thing, and I don't think they currently offer that card. What does your pay on non-gas purchases? I spent way more on groceries than gas then and now.It's still 5% cash back on all gas purchases.
The card didn't change, but they pulled the wool over many people's eyes with some misleading notices, and convinced them (including you, apparently) to change to the new point system.
Some of us were stubborn and stayed with the old card.
Same here. The best non-callable brokered CD on Schwab this morning was 3.65%. It's slowly getting there.I saw 4%, 5 year brokered CDs on Vanguard this morning. Problem is that they were callable. I am waiting to pull the trigger hoping for noncallable at 4% (or more).
The card I had was 5 cents on gas 3 cents on groceries and 1 cent on all other. They changed it over to points, if I recall right, no option. They offered a 5 cent for gas only card, but I did not want one with a good reward on only one thing, and I don't think they currently offer that card. What does your pay on non-gas purchases? I spent way more on groceries than gas then and now.
I would not be surprised to see it drop a little lower than expected since oil has been going steadily down the past few months. And of course, oil is a significant component of the cost of just about everything.Tomorrow August CPI is announced. IIRC it's expected to drop another 50 basis points to 8%.
I don't know the details on other purchases, but I've had the same card for close to 30 years. 5% cash back on gas, credited the same month. That's all we use the card for. All other purchases are with other cards.
Right now the 1 year treasury at 3.708% is paying more than longer durations and the 6 month treasury is not far behind at 3.623%. I’m not tempted to lock in longer durations at the moment.
I would not be surprised to see it drop a little lower than expected since oil has been going steadily down the past few months. And of course, oil is a significant component of the cost of just about everything.
Powells next rate increase (next week) should force CD's rates to rise again a good bit by mid Oct. That's when I'm going to start buying but I'll probably be buying 6 to 18 mo CD's since I expect rates to continue to rise for a while... It's just time for me to get in. After those start maturing, I'll reassess and may buy longer terms. That's my plan anyway but it's subject to change.So, my question is 2yr., 3yr., or more in CD terms? Brokered rates aren't that much different, but should you lock in now for a longer term?
Got one maturing in Oct., so deciding on the term for a new one.
Anybody have a crystal ball?
I don't know the details on other purchases, but I've had the same card for close to 30 years. 5% cash back on gas, credited the same month. That's all we use the card for. All other purchases are with other cards.
Yes, the PENFED card is doing fine for 5% off each fuel purchase. Like some we just use this for auto fuel purchases.Same for us. We use it only for gas, and get 5% credited each month. We don't use that much gas any more, but every little bit counts!
Deposits at U.S. banks fell by a record $370 billion in the second quarter, the first decline since 2018.
The outflow in the quarter isn’t a problem for banks, which are sitting on more deposits than they want.
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When the Fed started increasing its benchmark rate this year, banks expected—and wanted—some customers to move their money to places offering higher interest payments, such as government bonds.
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The deposit outflows will fuel a debate about how the Fed’s moves to tighten monetary supply and slow the pace of inflation are going to play out in a banking system flooded with liquidity.
At the risk of irritating people since this is probably a paywall, I want to excerpt an interesting article from the WSJ.
Basically, the topic can be summarized as thus: banks are seeing savings outflows, and they really don't care. They'll keep their savings rate at 0.10%, and they don't care.
The money is in lending, and they are making the money. They have plenty of deposits to satisfy the regulators, due to all the money that has floated around. So, if they can get away with it, they'll keep rates low and celebrate you taking money out to buy that Treasury.
U.S. Banks Lost a Record $370 Billion in Deposits Last Quarter