Thursday, January 28, 2016

Money Market Rates 1/16

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.05% GE Capital Bank Online Savings
1.00% Ally Bank Online Savings
0.95% Discover Bank Online Savings
0.95% FNBO Direct Online Savings
0.90% American Express High Yield Savings
0.75% Capital One 360 Savings
0.25% Western FCU Money Market
0.05% Citibank Savings Plus
0.03% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 1/27/16. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks. I recently added GE Capital Bank to the list, and GE has announced plans to sell their online deposit accounts to Goldman Sachs Bank. By a small margin, GE Capital Bank Online Savings retains the top position on this list yielding 1.05% APY.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Monday, December 21, 2015

Credit Card Bonuses 2016

Save money on purchases and get cash back with the following coupon codes and credit cards:

Citi Dividend Card
  • 5% cash back 1/1/16 - 3/31/16: New Beginnings: Home Depot & Home Furnishing Stores
  • 5% cash back 4/1/16 - 6/30/16: Drug Stores, Fitness Clubs
  • 5% cash back 7/1/16 - 9/30/16: Hilton & Car Rentals
  • 5% cash back 10/1/16 - 12/31/16: Best Buy & Department Stores
  • 1% on everything else.
Discover Card
  • 5% cash back 1/1/16 - 3/31/16: Gas & Ground Transportation
  • up to 1% on everything else.
Barclaycard Arrival World MasterCard (Travel Rewards)
  • 2.1% on travel and dining
  • 1.05% on everything else.
  • No annual fee.
    Costco TrueEarnings Card from American Express
    • I've stopped using my Costco American Express card since it will be discontinued early in 2016. At this point, I have no need for an AmEx card since Costco will no longer accept it.
    Citi ThankYou Card
    • 2X points on Dining Out & Entertainment
    • 1X points on everything else.
    Barclaycard Arrival Plus World MasterCard (Travel Rewards)
    • 2.1% on travel and dining
    • 2.1% on everything else.
    • ($89 annual fee after first year)

    PFS

    Tuesday, November 24, 2015

    Money Market Rates 11/15

    Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

    1.05% GE Capital Bank Online Savings
    1.00% Ally Bank Online Savings
    0.95% Discover Bank Online Savings
    0.90% American Express High Yield Savings
    0.75% FNBO Direct Online Savings
    0.75% Capital One 360 Savings
    0.25% Western FCU Money Market
    0.05% Citibank Savings Plus
    0.03% Chase Plus Savings

    In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 11/23/15. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks. I recently added GE Capital Bank to the list, and GE has announced plans to sell their online deposit accounts to Goldman Sachs Bank. By a small margin, GE Capital Bank Online Savings retains the top position on this list yielding 1.05% APY.

    The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

    So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

    DC

    Wednesday, October 28, 2015

    Money Market Rates 10/15

    Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

    1.05% GE Capital Bank Online Savings
    1.00% Ally Bank Online Savings
    0.95% Discover Bank Online Savings
    0.90% American Express High Yield Savings
    0.75% FNBO Direct Online Savings
    0.75% Capital One 360 Savings
    0.25% Western FCU Money Market
    0.05% Citibank Savings Plus
    0.03% Chase Plus Savings

    In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 10/26/15. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks. I recently added GE Capital Bank to the list, and GE has announced plans to sell their online deposit accounts to Goldman Sachs Bank. By a small margin, GE Capital Bank Online Savings retains the top position on this list yielding 1.05% APY.

    The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

    So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

    DC

    Friday, September 18, 2015

    FSAs: Clean Them Out

    This post is a follow up to my FSA Use It or Lose It Maybe post. As we all know by now, the "use it or lose it" provision of an FSA applies if you voluntarily terminate (quit) your employment, or are terminated without cause (i.e., laid off).

    Earlier this year, my company announced the planned acquisition of a competitor. At the same time they announced millions of dollars in "identified synergies" related to the acquisition. I took this to mean that layoffs would be coming. I decided to be proactive about my career, and sought a (better) opportunity with another employer.

    One thing that I did before leaving my old employer was to "clean out" my flexible spending account (FSA). If you are in a similar situation, you may want to do the same so that you don't leave any money on the table. Note that whatever FSA money you don't use, your old employer gets to keep. I wasn't about to leave a single penny to my old employer.

    Here is a list of FSA eligible medical items that DO NOT require a Doctor's Prescription:

    • Athletic Braces & Supports
    • Bandages
    • Baby Sunscreen
    • Baby Thermometers
    • Breast Pumps and Accessories
    • Blood Glucose Monitors & Test Strips
    • Blood Pressure Monitors
    • Children's First Aid
    • Children's Sunscreen
    • Condoms
    • Contact Lens Solution
    • Denture Cream and Cleansers
    • Diabetes Care Accessories
    • Eye Glass & Lens Accessories
    • First Aid Kits
    • First Aid Treatments and Supplies
    • Glucosamine Supplements
    • Glucose Tablets
    • Hearing Aid Batteries
    • Home Medical Equipment
    • Heating Pads and Wraps
    • Hot and Cold Packs
    • Incontinence Products
    • Lip Balm
    • Medical Monitoring and Testing Devices
    • Motion Sickness Aids
    • Nasal Spray
    • Orthopedic and Surgical Supports
    • Pregnancy and Fertility Tests
    • Prenatal Vitamins
    • Reading Glasses and Magnifiers
    • Shoe Insoles and Inserts
    • Sunscreen
    • Thermometers
    • Vaporizers and Inhalers
    • Walking Aids
    • Wheelchairs and Accessories

    Note: I don't warrant the accuracy or completeness of this list as I just copied it from somewhere on the Internet.

    Epilogue: Two weeks after I parted ways with my old employer, They laid off 180 people. While I am pretty certain that I wouldn't have been laid off, I think that another of my co-workers would have been if I did not already leave. In that case, I would have been expected to do his job in addition to my own...

    PFS

    Friday, August 28, 2015

    Credit Card Bonus Categories Q4 2015

    Save money on purchases and get cash back with the following coupon codes and credit cards:

    Citi Dividend Card
    • 5% cash back 10/1/15 - 12/31/15: Best Buy & Department Stores
    • 1% on everything else.
    Discover Card
    • 5% cash back 10/1/15 - 12/31/15: Online Shopping & Department Stores purchases
    • up to 1% on everything else.
    Barclaycard Arrival World MasterCard (Travel Rewards)
    • 2.2% on travel and dining
    • 1.1% on everything else.
    • No annual fee.
      Costco TrueEarnings Card from American Express
      • 3% cash back at gas stations
      • 2% cash back on restaurants, and travel
      • 1% on everything else.
      Barclaycard Arrival Plus World MasterCard (Travel Rewards)
      • 2.2% on travel and dining
      • 2.2% on everything else.
      • ($89 annual fee after first year)

      Also see the complete collection of PFStock Money Tips:
      PF Stock Money Tips #1: Use Coupons
      PF Stock Money Tips #2: Credit Cards
      PF Stock Money Tips #3: Taxes
      PF Stock Money Tips #4: Shopping
      PF Stock Money Tips #5: Organize Your Purchases
      PF Stock Money Tips #6: Reduce Wasteful Spending
      PF Stock Money Tips #7: Live Below Your Means
      PF Stock Money Tips #8: Plan Your Finances

      DC

      Thursday, July 30, 2015

      Get Cash Back at Supermarkets Using Discover

      I have written before about getting cash back when using a Discover card at the supermarket, but same information still applies. I am not referring to the Discover Card Cashback bonus that you earn for making purchases on a Discover Card. Rather, I'm talking about using the Discover Card in a supermarket, and then choosing cash back as a option during checkout. Discover card refers to this checkout option as "cash over". In Silicon Valley, California, I usually get my cash back from Safeway. While Discover Card limits you to $120 in "cash over" per day, Safeway only allows you get up to $60 per transaction.

      This cashover works out to be a nice interest free loan since I pay off the card every month. It also saves me a trip to the ATM. It used to be that you would also earn cashback on the cash over amount. But now, Discover Card separates out the "cash over" part from the "purchases" part of your transaction, and you no longer earn a cashback bonus on the cash over amount.

      Warning: I do not recommend this strategy to people who run a balance on their credit card, and end up paying interest charges on the money.

      PFS