We have 50,000 dollars sitting in a checking account doing nothing. Wife doesn’t seem interested in doing anything with it.
Well, tell her if she puts that $50K in a Synchrony High Yield Savings account you'll see a monthly interest payment (at the current 4.0% rate) of $166.67 a month. Better than receiving $0.00 from that checking account. And it's liquid. You can connect to an external account and transfer back to the checking account any amount if needed.We have 50,000 dollars sitting in a checking account doing nothing. Wife doesn’t seem interested in doing anything with it.
I’ll report back.Well, tell her if she puts that $50K in a Synchrony High Yield Savings account you'll see a monthly interest payment (at the current 4.0% rate) of $166.67 a month. Better than receiving $0.00 from that checking account. And it's liquid. You can connect to an external account and transfer back to the checking account any amount if needed.
We just did the same for a couple weeks, you're just chasing your tail lol. As soon as you commit, someone has a better rate/offer.Three hours after I submitted an APPLICATION..CFG raised their CD to 5.13.!!!II will revoke my application monday if the don't match new offer..I will notiify Ally to cancel my transfer.
Yeah, USAA used to have decent rates on a HYS, back when they were a good financial institution.It bugs me that I had too much money in a local HYS account that earned less than a quarter of a percent, for about 3 years. Dumb on my part, but I wanted to keep it liquid. My same local bank offers about 1/2 of one percent on their HYS. I've transferred pretty much everything to my Synchrony account yielding 4.0%.
I purposely have cash at a brick and mortar local bank in case I need quick cash....Of all the banks I've dealt with Ally has had the best customer service. I get the feeling CFG is going to be a pain in the butt.It bugs me that I had too much money in a local HYS account that earned less than a quarter of a percent, for about 3 years. Dumb on my part, but I wanted to keep it liquid. My same local bank offers about 1/2 of one percent on their HYS. I've transferred pretty much everything to my Synchrony account yielding 4.0%.
One thing I have found about Synchrony that scares me a little is they dont have physical locations to go in. Not sure if it bothers anyone else or I am being over paranoid.Well, tell her if she puts that $50K in a Synchrony High Yield Savings account you'll see a monthly interest payment (at the current 4.0% rate) of $166.67 a month. Better than receiving $0.00 from that checking account. And it's liquid. You can connect to an external account and transfer back to the checking account any amount if needed.
Meh. Neither does American Express but I don't sweat it. So much of all banking transactions are done online these days anyway.the one thing
One thing I have found about Synchrony that scares me a little is they dont have physical locations to go in. Not sure if it bothers anyone else or I am being over paranoid.
Well, tell her if she puts that $50K in a Synchrony High Yield Savings account you'll see a monthly interest payment (at the current 4.0% rate) of $166.67 a month. Better than receiving $0.00 from that checking account. And it's liquid. You can connect to an external account and transfer back to the checking account any amount if needed.
No worries and many do not know how large Synchrony financial is and has been around for 85 years. If you have any store credit cards its most likely backed by Synchrony. Anyone with an Amazon card is an example. I have been in a HYS account with Synchrony since 2016 but do not keep much money there because I get better rates elsewhere. Here is the list of Synchrony backed credit card for 2023.the one thing
One thing I have found about Synchrony that scares me a little is they dont have physical locations to go in. Not sure if it bothers anyone else or I am being over paranoid.
Thanks for the info! just curious if you dont mind sharing where you are getting a better rate? I see Synchrony for me at 4% HYS.No worries and many do not know how large Synchrony financial is and has been around for 85 years. If you have any store credit cards its most likely backed by Synchrony. Anyone with an Amazon card is an example. I have been in a HYS account with Synchrony since 2016 but do not keep much money there because I get better rates elsewhere. Here is the list of Synchrony backed credit card for 2023.
Synchrony Bank Credit Cards for 2024 (Full List) - Crediful
A complete list of the store credit cards issued by Synchrony Bank. Find out what you need to know to pick the best one.www.crediful.com
LOL...I bust my wife every month because she likes the old fashioned way with keeping her emergency fund in Chase bank. She gets like 5 or 6 cent interest statements each month and I just laugh at her. Between my HYS account and CD accounts I average 1K a month in interest. Only problem is that I have to pay taxes on the interest made so its now like triple taxation.....DC sucks.So if I have $50.. I'll make the .67 cents! Sweet!