Savings/MM/CD Interest Rates

A place to discuss anything... except credit cards!
rally081211
Green Member
Green Member
 
Posts: 12
Joined: Sat Jan 05, 2013 1:35 pm
Location: CT

Postby rally081211 » Sun Feb 03, 2013 1:15 am

My Sallie Mae money market account just dropped from 1.05% to .95%. :( Seems to be a 2013 trend
Barclaycard Arrival World MasterCard- 7.5k (06/13)
Amex Blue Cash Everyday-14k (01/13)
Chase Sapphire Visa Signature- 5k (09/12)
Chase Freedom Mastercard- 7.5k (02/12)
Capital One MTV Visa- 3k (09/10)
Citi Sunoco Gas-750 (07/06)


Bksuper
Centurion Member
Centurion Member
 
Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Sun Feb 10, 2013 2:13 am

Definitely the case for most banks, Ally Savings went from 0.95%>0.9% but they offer the best checking :/
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

rally081211
Green Member
Green Member
 
Posts: 12
Joined: Sat Jan 05, 2013 1:35 pm
Location: CT

Postby rally081211 » Wed Feb 13, 2013 1:28 am

I guess we all have to play the waiting game for the rates to go up, hopefully by next year. And yea, i do like Ally. That was my second option before Sallie Mae. I hear great things about their customer service. SM got me to bite with the 1.05%. Who knows, might move some $ to Ally soon
Barclaycard Arrival World MasterCard- 7.5k (06/13)

Amex Blue Cash Everyday-14k (01/13)

Chase Sapphire Visa Signature- 5k (09/12)

Chase Freedom Mastercard- 7.5k (02/12)

Capital One MTV Visa- 3k (09/10)

Citi Sunoco Gas-750 (07/06)

RewardHop
Centurion Member
Centurion Member
 
Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Wed Feb 13, 2013 11:37 am

bisbicos wrote:Tiaa-direct just lowered their apy from 1.24% to 1% Im doing the same thing as you rewardhop, putting money away for a house. I try to maximize my interest the same way I try to maximize. My credit rewards

check out Best Savings Account Rates


I've just decided that Savings accounts are pitiful and I'm putting a good chunk of my Savings into ETFs (Exchange-traded fund - Wikipedia, the free encyclopedia)

I do agree Ally checking is one of the best, but if you dont write many checks per month, consider an Ally Money Market Checking account. You can write up to 6 checks per month (or basically 6 withdrawals) without any penalty. I use MM for rent check and 2 credit card bills so I always stay under the 6 transactions limit.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

Dylan1982
Centurion Member
Centurion Member
 
Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Thu Feb 14, 2013 2:51 am

I have my savings with ING (now Capital One 360)... There interest rate is .75%
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

ValerieAnne
Green Member
Green Member
 
Posts: 6
Joined: Tue Feb 19, 2013 7:18 pm
Location: Cincinnati

Postby ValerieAnne » Tue Feb 19, 2013 7:27 pm

Personally use Ally myself and was thinking of moving some money over to a Barclays account because the APY is a bit higher. I love Ally though because of the customer service. My 'regular' bank, the APY is only .1%
Capital One Secured Card (wanted the Cap. One Newcomers card but thought it was only for new to America folks). :( CL: $231

RewardHop
Centurion Member
Centurion Member
 
Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Mon Mar 18, 2013 1:31 am

Just an update, Ally Bank has dropped Savings/Money Market Savings interest rates from 0.90% to 0.84%. I'm glad I opened that Barclays Online Savings account.
[size=60]

Amex BCE: 3% grocery, 2% gas

Bank of America Better Balance Rewards MC: $25/quarter bonus

Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities

Capital One Quicksilver Visa Signature: 1.5% everything

Chase Freedom Visa Signature: 5% rotating

Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com

Discover It: 5% rotating

SallieMae MC: 5% Groceries, Gas, Amazon

US Bank Cash+ Visa Signature: 5% electronic stores, restaurants

Sock Drawered: Chase Sapphire, Chase Amazon[/size]

kelvSYC
Platinum Member
Platinum Member
 
Posts: 52
Joined: Fri Jan 25, 2013 3:10 am
Location: San Bruno

Postby kelvSYC » Wed Mar 20, 2013 1:11 am

I'm trying to shop around for some good interest rates for long-term savings, but as with anything that I do, I just might have better luck transferring my earnings across the border where savings account interest rates are higher (but is negated by the fact that I will have to do a currency conversion from USD to CAD to get the 1.5% that almost any bank in Canada offers.)

I suppose it's also the case for long-term investments, right? Or is there something that's a better deal on this side of the border?
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Wed Mar 20, 2013 12:52 pm

kelvSYC wrote:I'm trying to shop around for some good interest rates for long-term savings, but as with anything that I do, I just might have better luck transferring my earnings across the border where savings account interest rates are higher (but is negated by the fact that I will have to do a currency conversion from USD to CAD to get the 1.5% that almost any bank in Canada offers.)

I suppose it's also the case for long-term investments, right? Or is there something that's a better deal on this side of the border?


I am getting much more than 1.5% APY with a rewards checking account at my credit union.

Here's one in Seattle offering 3%.APY.
http://www.prevailcu.com/checking/prevail-rewards-checking.html

There are some hoops to jump through and some people don't want to put in the effort to achieve the earnings an RCA can yield, but you might want to look into this.

432521
Centurion Member
Centurion Member
 
Posts: 379
Joined: Thu Apr 26, 2012 3:15 pm
Location: USA

Postby 432521 » Thu Apr 11, 2013 12:40 am

When discover says .80%, that really means .008 right? So essentially if I leave 2500 in my savings account with them for a year I would only gain 20?
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday



Return to “The Lounge”

Who is online

Users browsing this forum: No registered users and 3 guests