New checking account Deals
National City Bank gives a $150 gift card for opening a new checking account. TCF Bank gives you $50 free groceries (as a Meijer Gift Card) when you open a new TCF Totally Free Checking Account. Fifth Third Bank gives you free checking with no minimum balance and 2 free ATM withdrawals at other banks per month. Be sure to check out the fine print, Fifth Third will waive their $2 fee for using another bank's ATM twice per month, but the other bank may still charge a fee.
Certificate of Deposit Deals
The most common promotion for CDs is a high introductory rate for new deposits. The CD usually renews at a lower rate, so it is good to go for the longest rate you are willing to lock in. Capital One offers 5.5% on a 10 year CD, if you are willing to lock up your money for so long. Capital One and Chase both offer 5% for 5 years. ING's highest rate is 3.75% for 12 and 18 month CDs, longer term CDs at ING Direct have the lower rate of 3.5%. CitiBank's special is a 6-month CDs with a 3% APY interest rate. Some banks are like Bank of America offering “No Risk CD's”. At Bank of America, the 9 month CD gets 2% interest, you have to deposit the money you withdraw into another Bank of America account, and you might be required to give 7 days notice before withdrawing the funds. Compare this to earning 1.39% on Bank of America's money market account or choosing another bank's money market account, or one of the short term, high interest rate offers.
Savings and Money Market Deals
Bank of America has the "Keep the Change" promotion. You need a checking account, savings account, and check card to participate. This program rounds up your purchase to the nearest dollar and transfers the "change" into your savings account. It also matches 100% of the change for the first 3 months, and 5% after that, up to a total of $250 per year. The check card must not be a rewards card to be eligible for this program. Wachovia, now owned by Wells Fargo, has the Way2Save promotion. Way2Save transfers $1 from your checking account to savings each time you make a purchase with your check card, pay a bill online, or set up automatic debits from your checking account. You can also set up an automatic transfer of up to $100 a month from checking to savings. This is a handy way to save if you have your pay direct deposited into your checking account. The program pays a 5% bonus on your savings for the first year, and a 2% bonus on the amount you add each year for the next two years. The program also pays 5% interest on your savings for the first year, and 2% for the next two years. Compare this to earning 2.75% on their money market account, which requires $1,000 to open.
Credit Card Deals
Capital One's TV promotion says you can choose your own features in their "Card Lab". The ad showing someone busy designing their own card online while they should be doing something else are entertaining and funny. But is the card a good deal? When I chose the lowest fixed rate of 9.9% and $0 annual fee, all the other options became unavailable. www.mybanktraker.com/credit-cards lists several cards with a 0% introductory rate (which would change to 9.99%-19.99% after the intro period based on your credit rating), $0 annual fee, and some rewards. Bank of America has the MyExpression program. This program lets you choose between alumni, charity, organizations, and sports programs. Organizations can be the generic “Nursing” or the specific “Veterans of Foreign Wars” Each sponsor has a different list of products you can choose from. In most cases, you get a credit card with the name or logo on it. Charity cards may make donations to the charity. Sports cards may let you earn VIP passes. The main attraction of this program is that the credit card options are related to the organization you choose.
Holiday Deals
Wachovia donates to Toys 4 Tots each time someone buys a Wachovia Visa Gift Card and also allows people to donate toys or $5 to skate at Wachovia Arena on Dec 1st Discover Card is giving a $20 gift card for each $200 spent in a participating mall. Just save your receipts and bring them to the mall customer service desk. You will be given a $20 gift card, up to a maximum of 5 if you bring $1000 in receipts.
Obama’s Economic Dream Team: Is There Still Hope of Turning Things Around?
President-elect Barack Obama has not even entered the office to which he has been elected, but already, he is calling in the big guns in hopes of finding that miracle cure for whatever it is that’s ailing the US economy.
Most, if not all, leading players of Obama’s new economic team, who will be largely responsible for the direction the economy will be taking from hereon, are already on board. Let’s take a closer look at these economic bigwigs:
Timothy F. Geithner – Treasury Secretary
Having served as the New York Federal Reserve president since 2003, Geithner has been a key player in trying to resolve this economic crisis, working closely with current Treasury Secretary Henry M. Paulson Jr. and Ben S. Bernanke, chairman of the Federal Reserve.
Keep Your Account and Identity Secure during the Holiday Season
For those who wish to stay away from the long lines at the counters, shopping online is the answer. Finding that perfect gift can still be done in the comfort of one’s home.
However, at this time when identity thieves are about as common as the usual pickpockets, you need to protect your privacy and keep your credit information and your accounts away from devious individuals. Keep on reading to find out how:
‘Tis the Season Again: A Useful Guide to Being Smart with Your Money During the Holidays
Celebrating a meaningful Christmas doesn't necessarily suggest dipping low into one's savings account. The holidays could never be as enjoyable and as stress-free as you want it to be if at the back of your mind, you are thinking of the post-holiday bills that will come knocking on your doorstep long after the gifts are opened and the tinsel all put away.
How to Spend a Merry Christmas without Burning a Hole in your Account
Even with tough times upon us, one need not pull a Scrooge during this time of giving. Here are a few tips on keeping your head above water despite the holiday spending:
A Guide to Measuring One’s Wealth: Why the Net Worth Alone Fails to Show the Big Picture
A humorous quote of Bob Hope goes "A bank is a place that will lend you money if you can prove that you don't need it." Said in jest though this may be, but in this day and age, nothing else could ring more true.
With all these talks about credit worthiness, rising unemployment, struggling economy, plummeting stocks, defaulted mortgages, and so on, one cannot help but wonder just what being wealthy means these days. Technically, wealth is defined as an abundance of things of economic value, usually in the form of money, real estate, and personal property.
A Second Helping of Online Financial Finds for the Holiday Season
Everyone knows holiday feasting requires making room for seconds, and MyBankTracker is no exception. Recently, we cooked up our first course of financial fixings, which included online checking and savings accounts as well as several other online tools. Now, fresh from the oven, here’s another piping hot dish of online finds to help you save money while you’re shopping for gifts.
An Assortment of Online Treasures: Restaurants, Travel and Gift Cards
December’s merrymaking spirit ushers in an emphasis on eating, traveling and shopping. In light of this fact, we’ve included the following timely tools:
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
Citibank Credit Card Interest Skyrockets In Anticipation of Federal Regulation
Commerce Bank of Southwest Florida Fails, Becomes 123 Bank to Close in 2009
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
