Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
On the advise of comment here a few months ago, each month I try to find a way to increase investments or decrease expenses. This month I have been looking at establishing an account at a nearby bank that has interesting program. They pay 4.01% monthly interest on checking account balances up to $25,000, provided this is done: 1) One direct deposit. 2) 10 debit transactions 3) One online bill pay. Plus they will give you 25 cents cashback for every signature debit card transaction minimum 20 a month with maximum payback of $25 a month.
My question is do any of you engage in this type of activity to get higher interest and cash back, or is it too much of a PITA to bother. I have never played this "game" before, so I would have to change a few hanits. Seems like I could make some decent safe money and treat it like a 25,000 CD paying 4%. I havent online bill paid before and rarely use my debit card ,though I use my CC. It looks like I would have to break up some of my purchases as I tend to get everything at once. This appears to be a lot better payback than my CC cash back. They also pay 2.5% on an HSA account which I will probably transfer, too since I'm only getting .7% at my current HSA.
I must add that I have current checking account that pays next to nothing, and my savings account is no better .05%
Any thoughts or success stories doing this?
My question is do any of you engage in this type of activity to get higher interest and cash back, or is it too much of a PITA to bother. I have never played this "game" before, so I would have to change a few hanits. Seems like I could make some decent safe money and treat it like a 25,000 CD paying 4%. I havent online bill paid before and rarely use my debit card ,though I use my CC. It looks like I would have to break up some of my purchases as I tend to get everything at once. This appears to be a lot better payback than my CC cash back. They also pay 2.5% on an HSA account which I will probably transfer, too since I'm only getting .7% at my current HSA.
I must add that I have current checking account that pays next to nothing, and my savings account is no better .05%
Any thoughts or success stories doing this?