Personal Capital: $100 Visa Gift Card For Financial Advisory Sales Call (Expired)

Posted on January 5, 2023 // 12 Comments

Update: This offer is now expired and not currently available. I am leaving up the details for those that did the deal previously.

Expired offer:

$100 offer is back. You must sign up by 1/31/23 and have your meeting by 2/28/2023. Personal Capital is an investment advisory service that offers several free online financial tools as a way to introduce themselves to potential clients. I mention them once a quarter, as I use them to track my Humble Portfolio performance and asset allocation across various brokerage and 401k accounts. They also have various retirement planning tools for projecting required savings rates and future income. Below is a screenshot from my own account. (Morningstar recently started charging for their Portfolio X-ray service, leaving Personal Capital as one of the few such services left.)

After you sign up for their free tools, Personal Capital will usually call you once and introduce themselves and their services. They want to help you manage your portfolio for a management fee that is somewhere between the cost of the average 100% digital robo-advisor and a traditional human advisor from a Big Firm. If you politely decline, as I did, they won’t hard-sell and won’t call you again. (Much more pleasant than trying to cancel my cable service!) You can keep using their free software after that without hassle.

Now through 1/31/2023, Personal Capital will explicitly pay you a $100 Visa gift card if you sign up for their free tools and receive a financial advisory analysis and sales call from them. You will need to sync up your investments accounts showing total investable assets of at least $250,000. You do not need to accept the proposal or pay for financial advice, but you do need to listen to their presentation.

The next conversation you have could come with $100. Here’s how:

– Sign up for our free, easy-to-use financial tools including our Retirement Planner
– Link your bank and investment accounts
– Receive your free financial analysis after talking with an expert
– Treat yourself with your FREE $100 Visa® gift card**

Offer fine print:

Offer available through Feb 28, 2023. If you schedule an appointment with a Personal Capital Advisor and participate in both an initial call and a second call in which you receive a recommendation and proposal for paid investment advisory services by Feb 28, 2023 (a “Recommendation”), then you will receive receive a $100 Visa®* Gift Card (the “Gift Card”). The Gift Card will be provided via email no later than Mar 31, 2023 through Thnks.com (“Thnks”), an independent third-party gifting platform. By participating in this promotion, you are agreeing to allow Personal Capital to share your email address with Thnks for Gift Card fulfillment purposes and agreeing that information collected from promotion participants may be used by PCAC or affiliates for marketing or solicitation of paid products or services.

The Gift Card is only available to prospective clients who receive a promotional offer. To qualify as a prospective client, you must: (1) have a minimum of $250,000 in investable assets, (2) not have redeemed a Personal Capital promotion in the previous 24 months, and (3) answer a suitability survey posed at the beginning of the initial call with a Personal Capital Advisor at which time the Advisor (at his or her sole discretion) will make a determination as to whether you qualify as a prospective client for paid advisory services offered by Personal Capital Advisors Corporation. Using an ad blocker may adversely affect our ability to determine your account eligibility in the program. This offer is not transferable and cannot be redeemed in any other manner. Final determination of eligibility is at Personal Capital’s sole discretion.

I am now an affiliate of Personal Capital Advisors Corporation (“PCAC”) and will be compensated if you sign up for this offer though my link above. To be blunt, if you don’t want to listen to a full presentation, I would just sign up for the free tools and skip the advisor call. The free tools are truly useful just on their own and Personal Capital has never bothered me again after their initial call. But if you do want to hear what they have to say and maybe get a little free advice, then right now you can get a $100 gift card on top (instead of nothing).

Filed Under: Deals & Offers, Investing //

Equifax Data Breach Settlement Payouts Being Sent (Check Your Junk Folder) + Ongoing Benefits Reminder

Posted on December 22, 2022 // 9 Comments

Update December 2022: You may not even remember that you filed a cash claim in the 2017 Equifax Data Breach Settlement, but the payments are finally being sent out. I nearly deleted the email as it ended up in my Junk Folder.

The settlement administrator has begun sending out payments for out-of-pocket losses, time spent claims, and other cash benefits. You will get your payment in the method you chose—by check, prepaid card, or PayPal payment.

Legitimate emails about the settlement will come from Equifax Breach Settlement Administrator (info@equifaxbreachsettlement.com).

Despite the information from that link quoted above, mine was from “Equifax Breach Settlement” and the email “EquifaxDataBreachSettlement@hawkmarketplace.com”. I also could not open the redemption link in my Chrome browser. It’s almost like someone doesn’t want you to claim the money… I got $21.06 via prepaid card and promptly used it to reload my Amazon gift card balance.

In addition, here is my previous post about the other ongoing benefits from the settlement:

Although the deadline to file a claim for the huge 2017 Equifax Data Breach Settlement has now passed, here is a quick reminder that there are still ongoing benefits available, including the ability to get a free credit report every other month:

Six (6) free Equifax credit reports per year. All U.S. consumers can now get 6 free credit reports per year through 2026 by visiting the Equifax website or by calling 1-866-349-5191. This is in addition to the one free Equifax report (plus your Experian and TransUnion reports) you can get every rolling 12 months at AnnualCreditReport.com.

Free identity restoration services. For at least seven years, you can get free identity restoration services. If you discover misuse of your personal information, call the settlement administrator at 1-833-759-2982. You will be given instructions for how to access free identity restoration services.

Reimbursement for identity theft expenses. You can still file a claim for any expenses you incur between January 23, 2020, and January 22, 2024, as a result of identity theft or fraud related to the breach, such as:

  • Losses from unauthorized charges to your accounts
  • Fees you paid to professionals, like accountants or attorneys, to help you recover from identity theft
  • Other expenses you incurred while recovering from identity theft, like notary fees, document shipping fees, postage, mileage, and phone charges.
Filed Under: Credit Cards, Deals & Offers //

SkyOne FCU Savings / Checking $400 Bonus w/ Direct Deposit

Posted on December 11, 2022 // 5 Comments

SkyOne Federal Credit Union has a $100 savings + $300 checking account promotion with qualifying direct deposits. New members only. There is also a separate $300 credit card bonus. Based in Hawthorne, California, membership is open nationwide through membership in a partner organization… and they’ll pay for your membership when you join:

We’re intensely dedicated to serving our members and their communities — and no, that’s not just a line. We’re serious about that passion. That’s why we partner with organizations and non-profits that reflect the values that our members care about.

Choose any one of the organizations we’re partnered with when opening an account with us and we’ll pay your membership dues for that organization.*

They even mention a simple $25 bonus with promo code JOIN, but I think you can only use one promo code. Hat tip to reader Mary and DoC. Offer expires 12/31/22.

$100 Savings Bonus highlights:

  • Must use promo code GIFT
  • Must maintain a $1,000 balance for 3 months.
  • Max APY is 0.05% APY.

$300 Checking Bonus highlights:

  • Must use promo code GIFT
  • Must establish direct deposit within 30 days of account opening, and receive a total of $1,000+ in qualifying direct deposits per statement cycle for six consecutive cycles into your new checking account during the qualification period.
  • Max APY is 0.05% APY.
  • Minimum balance of $2,500 or have monthly aggregate deposits of $1,000 or more to avoid $5 monthly fee.

Full fine print:

1 Get $100: Open an account online from December 9, 2022, to December 31, 2022, use promo code GIFT and deposit the minimum opening balance amount of $5 into a Primary Savings Account, and maintain a $1000 balance for 3 months. This offer is intended for new members only. You are not eligible for this offer if you are a current owner of a SkyOne savings account or if you have closed an account within the last 12 months. Savings Rate is 0.05% APY. APY=Annual Percentage Yield. Rates are effective as of the last dividend declaration date. The rate is variable and may change after the account is opened. A $500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply.

2 Get $300: Open a new SkyOne Advantage checking account online from December 9, 2022, to December 31, 2022, using promo code GIFT. within 30 days of account opening establish direct deposit and receive a total of $1,000 or more in qualifying direct deposits per statement cycle for six consecutive cycles into your new checking account during the qualification period. A qualifying direct deposit is a direct deposit of your salary, pension, Social Security, or other regular monthly income, electronically deposited through the Automated Clearing House (ACH) network to this checking account. Transfers from one account to another, mobile deposits, or deposits made at a banking location or ATM do not qualify. Advantage Checking earns dividends of .05% APY if the balance requirement is met. APY=Annual Percentage Yield. Rates are effective as of the last dividend and declaration date. The rate is variable and may change after the account is opened. A $2,500 balance is required to earn dividends. Dividends are posted and compounded monthly. Fees may reduce earnings. Please refer to the Fee Schedule and All in One Disclosure for complete details. All account terms and conditions apply. This offer is intended for new checking accounts only. Offer is not available to existing SkyOne checking account holders or those whose accounts have been closed within the last 12 months.

Thinking about this one. I like to open accounts at credit unions that show a commitment to providing competitive products in multiple areas. In addition to the checking and savings promo, SkyOne is also offering a 22-month CD at 5% APY as well as a 15-month CD at 4.50% APY with some flexible withdrawal and add-on features. Too bad their 5-year certificate rates are not nearly as competitive.

Filed Under: Banking, Deals & Offers //

Robinhood IRA: 1% Bonus Match on Retirement Contributions

Posted on December 6, 2022 // 5 Comments

I have to hand it to Robinhood, they are good at marketing. It took years, but Robinhood is finally offering Individual Retirement Accounts (IRAs) with the unique feature of giving you an extra 1% on every dollar you contribute, every year. Traditional and Roth IRAs are available. The 2022 IRA contribution limits are $6,000 ($7,000 if you are age 50+), which means a bonus of up to $60-$70 annually. Right now, you have to sign up on their waitlist, with actual rollout in January 2023. If you wait until then, you could do both your 2022 and 2023 contributions in early 2023.

Some important items after reading through their IRA Match FAQ:

  • Make sure you make your IRA contributions from a linked external bank account only up to the annual IRA contribution limits. Contributions from your Robinhood brokerage or spending accounts don’t earn the IRA Match. Rollovers don’t count either.
  • You must keep the funds that earned the match in the account for at least 5 years to avoid the possibility of a clawback fee when withdrawn.
  • IRA Match counts as interest income in your IRA and doesn’t count toward your annual IRA contribution limit.
  • Outgoing $100 ACAT transfer fee applies if you transfer to another broker later using Automated Customer Account Transfer Service. This fee is currently set at $100.

I’m a little conflicted about this. On the one hand, IRA contributions are so limited and precious, it would be nice to effectively put in a little extra and have it grow tax deferred for 20-30 years, even if it is only about $60 a year. On the other hand, IRAs have more paperwork requirements and I don’t know if I trust Robinhood’s barebones customer service to properly deal with my annual “Backdoor” IRA conversions and such.

Filed Under: Deals & Offers, Investing //

Best Interest Rates on Cash – December 2022 Update

Posted on December 4, 2022 // 12 Comments

Here’s my monthly roundup of the best interest rates on cash as of December 2022, roughly sorted from shortest to longest maturities. We all need some safe assets for cash reserves or portfolio stability, and there are often lesser-known opportunities available to individual investors. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 12/4/2022.

TL;DR: 5% on up to $10,000 from fintech. 5% APY on up to $100k via a 7-month promo CD. 4% APY available on liquid savings. 1-year CD at 4.71% APY. 5-year CD at 4.75% APY. Compare against Treasury bills and bonds at every maturity (12-month near 4.69%). 6.89% Savings I Bonds still available if you haven’t maxed out 2022 limits.

Fintech accounts
Available only to individual investors, fintech companies often pay higher-than-market rates in order to achieve fast short-term growth (often using venture capital). “Fintech” is usually a software layer on top of a partner bank’s FDIC insurance.

  • 5% on up to $10,000. Juno now pays 5% on all cash deposits up to $10,000 and 3% on cash deposits from $10,001 up to $250,000. $50 direct deposit bonus. Please see my Juno review for details.
  • 4.00% APY on $6,000 with no direct deposit requirement. Current offers 4% APY on up to $6,000 total ($2,000 each on three savings pods). No direct deposit required. $50 referral bonus for new members with $200+ direct deposit with promo code JENNIFEP185. Please see my Current app review for details.
  • 4.00% APY on up to $250,000, but requires direct deposit and credit card spend. Currently a waitlist for new applicants. The top tier requires you to maintain positive cashflow in the checking account each month, $500 in total monthly direct deposits, and $500 in credit card purchases each month. Existing customers will get up to 4% APY through April 2023, with requirements waived through March 2023. Please see my updated HM Bradley review for details.

High-yield savings accounts
Since the huge megabanks STILL pay essentially no interest, I think every should have a separate, no-fee online savings account to accompany your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • The leapfrogging to be the temporary “top” rate continues. All America/Redneck Bank is at 4% APY for balances up to $75,000 ($500 to open, no min balance). Republic Bank of Chicago has a Digital Money Market account at 4.00% APY ($2,500 minimum to open and avoid monthly fee, new money only).
  • SoFi Bank is now up to 3.25% APY + up to $275 new account bonus with direct deposit. You must maintain a direct deposit of any amount each month for the higher APY. SoFi has their own bank charter now so no longer a fintech by my definition. See details at $25 + $250 SoFi Money new account and deposit bonus.
  • There are several other established high-yield savings accounts that aren’t a top rate, but historically do keep it relatively competitive for those that don’t want to keep switching banks.

Short-term guaranteed rates (1 year and under)
A common question is what to do with a big pile of cash that you’re waiting to deploy shortly (plan to buy a house soon, just sold your house, just sold your business, legal settlement, inheritance). My usual advice is to keep things simple and take your time. If not a savings account, then put it in a flexible short-term CD under the FDIC limits until you have a plan.

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. CIT Bank has a 11-month No Penalty CD at 3.65% APY with a $1,000 minimum deposit. Ally Bank has a 11-month No Penalty CD at 3.30% APY for all balance tiers. Marcus has a 13-month No Penalty CD at 3.05% APY with a $500 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
  • My eBanc has a 12-month certificate at 4.71% APY. $5,000 minimum. Early withdrawal penalty is 90 days of interest.
  • Andrews FCU has a special 7-month certificate at 5.00% APY (offer ends 12/14). $1,000 min, $100k max. Anyone can join this credit union with a ACC membership, and ACC membership is free with promo code “Andrews”. My previous application experience.

Money market mutual funds + Ultra-short bond ETFs*
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). * Money market mutual funds are regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms. I am including a few ultra-short bond ETFs as they may be your best cash alternative in a brokerage account, but they may experience short-term losses.

  • Vanguard Federal Money Market Fund is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 3.70%. Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • Vanguard Ultra-Short-Term Bond Fund currently pays 4.32% SEC yield ($3,000 min) and 4.42% SEC Yield ($50,000 min). The average duration is ~1 year, so there is some term interest rate risk.
  • The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 4.21% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 4.31% SEC yield while holding a portfolio of investment-grade bonds with an average duration of ~6 months.

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks and are fully backed by the US government. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes.

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 12/2/2022, a new 4-week T-Bill had the equivalent of 3.81% annualized interest and a 52-week T-Bill had the equivalent of 4.69% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 3.52% SEC yield and effective duration of 0.10 years. SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 3.47% SEC yield and effective duration of 0.08 years.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov. You can also buy an additional $5,000 in paper I bonds using your tax refund with IRS Form 8888.

  • “I Bonds” bought between November 2022 and April 2023 will earn a 6.89% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More on Savings Bonds here.
  • In mid-April 2023, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.
  • See below about EE Bonds as a potential long-term bond alternative.

Prepaid Cards with Attached Savings Accounts
A small subset of prepaid debit cards have an “attached” FDIC-insured savings account with exceptionally high interest rates. The negatives are that balances are severely capped, and there are many fees that you must be careful to avoid (lest they eat up your interest). There is a long list of previous offers that have already disappeared with little notice. I don’t personally recommend nor use any of these anymore, as I feel the work required and the fees charged if you mess up exceeds any small potential benefit.

  • Mango Money pays 6% APY on up to $2,500, if you manage to jump through several hoops. Requirements include $1,500+ in “signature” purchases and a minimum balance of $25.00 at the end of the month.
  • NetSpend Prepaid pays 5% APY on up to $1,000 but be warned that there is also a $5.95 monthly maintenance fee if you don’t maintain regular monthly activity.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • All America/Redneck Bank pays 4.25% APY on up to $15,000 if you make 10 debit card purchases each monthly cycle with online statements.
  • The Bank of Denver pays 4.00% APY on up to $15,000 if you make 12 debit card purchases of $5+ each, receive only online statements, and make at least 1 ACH credit or debit transaction per statement cycle. Thanks to reader Bill for the updated info.
  • Presidential Bank pays 3.75% APY on balances between $500 and up to $25,000 (3.00% APY above that) if you maintain a $500+ direct deposit and at least 7 electronic withdrawals per month (ATM, POS, ACH and Billpay counts).
  • Find a locally-restricted rewards checking account at DepositAccounts.

Certificates of deposit (greater than 1 year)
CDs offer higher rates, but come with an early withdrawal penalty. By finding a bank CD with a reasonable early withdrawal penalty, you can enjoy higher rates but maintain access in a true emergency. Alternatively, consider building a CD ladder of different maturity lengths (ex. 1/2/3/4/5-years) such that you have access to part of the ladder each year, but your blended interest rate is higher than a savings account. When one CD matures, use that money to buy another 5-year CD to keep the ladder going. Some CDs also offer “add-ons” where you can deposit more funds if rates drop.

  • Bread Financial has a 5-year certificate at 4.75% APY ($1,500 min), 4-year at 4.65% APY, 3-year at 4.50% APY, 2-year at 4.50% APY, and 1-year at 4.50% APY. The early withdrawal penalty for the 5-year is 365 days of interest.
  • Department Of Commerce Federal Credit Union has a 5-year certificate at 4.70% APY ($500 min), 4-year at 4.59% APY, 3-year at 4.57% APY, 2-year at 4.61% APY, and 1-year at 4.40% APY. The early withdrawal penalty for the 5-year is 180 days of interest. Anyone can join this credit union through a $5 membership in the American Consumer Council (ACC). Enter ACC membership number on the online application.
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Right now, I see a 5-year CD at 4.85% (non-callable). Be wary of higher rates from callable CDs, which means they can call back your CD if rates drop later.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk, but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CDs at 5.25% (non-callable) vs. 3.56% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.
  • How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate currently 2.10%. As of 12/2/2022, the 20-year Treasury Bond rate was 3.79%.

All rates were checked as of 12/4/2022.

Filed Under: Banking, Deals & Offers, Investing //

Amazon Black Friday / Cyber Monday 2022: Free Amazon Credit Promos

Posted on November 27, 2022 // 1 Comment

Hope you had a nice Thanksgiving weekend! Enjoyed a little break before the holiday chaos begins. Here are a few low-hanging fruit that caught my eye as I jump back in. Must visit on website to see links.

All Cyber Week gift card deals (scroll down)

Get up to $15 in Amazon promo credit with select gift card purchases. Examples:

  • $100 Apple Gift Card, get $15 Amazon credit
  • $100 Apple eGift Card, get $15 Amazon credit
  • $100 Nordstrom eGift Card, get $15 Amazon credit
  • $50 Gap / Old Navy / Banana Republic eGift Card, get $11 Amazon credit
  • $50 Dominos Pizza eGift Card, get $10 Amazon credit

Get $10 Amazon credit when you made Discover your default payment method. This is a separate offer from the “shop with points” promo below.

Get $15 off $15+ order when you pay with a Citi credit card (targeted). Try using the promo code CITI2022 and/or 22CITI10 and check out with a Citi credit card even if it says you’re ineligible.

Shop with points (check again if targeted). I’ve gotten hundreds of dollars in easy savings with these Amazon Pay-with-Points promotions. Whenever something I buy regularly is “Shipped and Sold by Amazon.com”, I take note to use with this promo.

Side deal: $50 off a $500 Southwest Airlines gift cards (10% off) at Costco.

Filed Under: Deals & Offers //

Discount Magazines Black Friday Sale 2022

Posted on November 27, 2022 // 6 Comments

The annual DiscountMags.com Black Friday Sale is one of the few times where they post their lowest prices for the year. The Black Friday sale actually lasts through Monday 12/5, but the Cyber Monday Bulk Sale only lasts through Wednesday 11/30.

This is time of year that I either order some gifts or just lock-in cheap pricing for multiple years. Maybe I’m just old, but I still enjoy the curation and physical nature of magazines. (My daughter enjoys NatGeo Kids as well.) Many issues cost barely more than a stamp. Here are some examples:

  • Consumer Reports $15.99/year ($1.23/issue)
  • Forbes $4.89/year ($0.61/issue)
  • The Economist Print & Digital $74.99/year ($1.47/issue)
  • The Economist Digital Only $57.99/year ($1.14/issue)
  • Outside $4.99/year ($0.83/issue)
  • Bon Appetit: $4.99/year ($0.50/issue)
  • National Geographic Kids $15.95/year ($1.59/issue)
  • Food Network $6.49/year ($0.81/issue)
  • Car and Driver $6.99 for 2 years ($0.35/issue)

Importantly, DiscountMags does NOT require auto-renewal, where they charge your credit card automatically at the end of the subscription period at the full regular (higher) price. Watch out for this “feature” elsewhere! This mean you never have to call in to cancel, and makes it easier to shop for another deal later. They do have an optional “Subscription Lock” feature where they will auto-renew ONLY if the price is the same again. Otherwise, it will not auto-renew.

Many magazines are now available digitally through your local library system, but I still prefer the physical magazine format.

Filed Under: Deals & Offers //

Amazon App: Spin & Win Instant Win Game

Posted on November 21, 2022 // 2 Comments

Amazon is running a “Spin & Win” Instant Win game (link available online) that only works on the Amazon app and gives you the chance to win a $5-$20 Amazon credit. You can spin once a day through Monday 11/28/22.. I usually don’t care for sweepstakes-style contests, but this seems simple enough.

NO PURCHASE NECESSARY. Open only to legal U.S. residents of the fifty (50) United States and D.C who are 18 years of age or older with a free Amazon account. Promotion begins on or about 11/21/22 at 12:01 a.m. PT and ends on 11/28/22 at 11:59 p.m. PT. Promotion consists of 8 daily instant win entry periods and 8 daily sweepstakes drawings. By participating, you agree to receive marketing and promotional materials from Amazon. See Official Rules for complete details, including additional eligibility restrictions, limits, entry periods, odds, prize descriptions/restrictions/ARVs. Sponsor: Amazon.com Services LLC.

Filed Under: Deals & Offers //

Frontier Airlines Go Wild Pass: $599 for 12 Months of Unlimited Flights

Posted on November 16, 2022 // 16 Comments

Update: $599 sale ends at 11:59 PM Mountain Time on November 18, 2022. International destinations also added to offer.

Frontier has discounted their Go Wild Pass to only $599 for a limited time for the first year. Retail and Renewal Price is $1,999/yr. You can only get a confirmed seat the day before any given flight, which makes roundtrips possibly tricky. (Isn’t this similar to how standby for airline employees works?) Doesn’t start until May 2023. The details:

  • Flights must be booked at flyfrontier.com
  • Flights will be available to book and fly starting May 2, 2023
  • Flights can be booked and confirmed the day before flight departure for domestic travel and starting 10 days before flight departure for international travel
  • Flights are subject to blackout periods:
    2023: May 25, 26, 29; June 29, 30; July 1-5, 8, 9; August 31; September 1, 4; October 5, 6, 9; November 18, 22, 24-27; December 16, 17, 22-24, 26-31;
    2024: January 1, 15; February 15, 16, 19; March 3, 10, 15-17, 22-24, 29-31; April 5-7, 12-14. Blackout dates for May 2024 and beyond will be posted in advance of accepting any enrollments for pass periods which cover those dates.
  • Flights do not include any add-on products (like bags or seats), you can still customize your travel
  • Taxes, fees, and charges apply at the time of booking. (Current government and airport taxes, fees and charges start at approximately $14.60 per person, per flight.)
  • A fare of $0.01 will be charged for each segment booked
  • Flights and seats are subject to availability; last seat availability is not guaranteed
  • Travel not eligible to earn miles or status
  • Travel qualifies as activity and will extend your FRONTIER Miles expiration
  • The GoWild! Pass is non-transferable. The pass holder is the only allowed passenger to travel with GoWild! Pass privileges.
  • Your Pass will automatically renew for successive one-year terms unless you cancel

Later added:

CAN I BOOK INTERNATIONAL FLIGHTS USING GOWILD! PASS?
Yes, international flights can be booked using the GoWild! Pass starting 10 days before flight departure. Passholders are responsible for complying with all international travel and immigration requirements including, but not limited to, providing evidence of confirmed return or onward travel where applicable. Codeshare travel is not available using the GoWild! Pass. Please see below for more details on passholder responsibilities for taxes, fees, and charges applicable at the time of booking.

An interesting promotion for people with very flexible schedules and that live near an airport serviced by Frontier Airlines (or can just keep hopping anywhere as digital nomads). Note that the taxes and fees will add up to about $15-$20 per US flight segment and possibly over $100 per international flight, plus any baggage/seat selection fees. See Frontier route map.

Filed Under: Deals & Offers //

Amazon Prime: Link Venmo, Get $10 Credit (Targeted)

Posted on November 10, 2022 // 2 Comments

Amazon is offering select Amazon Prime members a $10 Amazon credit for linking their Venmo account as a payment method. You don’t have to actually purchase anything with Venmo. The terms says it’s targeted, but I did not receive an e-mail about the offer and I was able to get the $10 credit immediately after linking and without issue. It may be easier to click on the offer link on your smartphone to verify instantly via the Venmo app. (You may need to read this post online and not in e-mail to see the link.)

Add a Venmo account to Amazon account Promotion (the “Promotion”). This is a limited time offer (the “Offer”) that will end on 12/31/2022 at 11:59 p.m. (PT) or while supplies last. Offer only valid for invited Amazon customers who have received this offer directly from Amazon through email or online display advertisements. To claim the promotion credit (the “Credit”), complete the following actions: 1.) Sign in to your Amazon.com account, 2.) Click on the advertisement or email regarding this Promotion; and 3.) Follow the instructions on screen to complete the process. Upon successfully adding a Venmo account to your Amazon account, the Credit will be applied to your Amazon.com account.

Filed Under: Deals & Offers //

Best Interest Rates on Cash – November 2022 Update

Posted on November 6, 2022 // 5 Comments

Here’s my monthly roundup of the best interest rates on cash as of November 2022, roughly sorted from shortest to longest maturities. We all need some safe assets for cash reserves or portfolio stability, and there are often lesser-known opportunities available to individual investors. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 11/6/2022.

TL;DR: 5% on up to $10,000 from Juno. 4% APY on up to $6,000 for liquid savings at Current with no direct deposit requirement. Merchants Bank of Indiana Money Market at 3.82% APY. 1-year CD at 4.30% APY. 5-year CD at 4.42% APY. Compare against Treasury bills and bonds at every maturity (12-month near 4.75%). 6.89% Savings I Bonds still available if you haven’t maxed out 2022 limits.

Fintech accounts
Available only to individual investors, fintech companies often pay higher-than-market rates in order to achieve fast short-term growth (often using venture capital). “Fintech” is usually a software layer on top of a partner bank’s FDIC insurance.

  • 5% on up to $10,000. Juno now pays 5% on all cash deposits up to $10,000 and 3% on cash deposits from $10,001 up to $250,000. $50 direct deposit bonus. Please see my Juno review for details.
  • 4.00% APY on $6,000 with no direct deposit requirement. Current offers 4% APY on up to $6,000 total ($2,000 each on three savings pods). No direct deposit required. $50 referral bonus for new members with $200+ direct deposit with promo code JENNIFEP185. Please see my Current app review for details.
  • 4.00% APY on up to $250,000, but requires direct deposit and credit card spend. Currently a waitlist for new applicants. The top tier requires you to maintain positive cashflow in the checking account each month, $500 in total monthly direct deposits, and $500 in credit card purchases each month. Existing customers will get 4% APY through April 2023, with requirements waived through March 2023. Please see my updated HM Bradley review for details.

High-yield savings accounts
Since the huge megabanks STILL pay essentially no interest, I think every should have a separate, no-fee online savings account to accompany your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

Short-term guaranteed rates (1 year and under)
A common question is what to do with a big pile of cash that you’re waiting to deploy shortly (plan to buy a house soon, just sold your house, just sold your business, legal settlement, inheritance). My usual advice is to keep things simple and take your time. If not a savings account, then put it in a flexible short-term CD under the FDIC limits until you have a plan.

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. CIT Bank has a 11-month No Penalty CD at 3.30% APY with a $1,000 minimum deposit. Ally Bank has a 11-month No Penalty CD at 3.10% APY for all balance tiers. Marcus has a 13-month No Penalty CD at 2.55% APY with a $500 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
  • Banesco USA has a 12-month certificate at 4.30% APY. $1,500 minimum. Early withdrawal penalty is 90 days of interest.

Money market mutual funds + Ultra-short bond ETFs*
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). * Money market mutual funds are regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms. I am including a few ultra-short bond ETFs as they may be your best cash alternative in a brokerage account, but they may experience short-term losses.

  • Vanguard Federal Money Market Fund is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 3.24%. Compare with your own broker’s money market rate.
  • Vanguard Ultra-Short-Term Bond Fund currently pays 4.14% SEC yield ($3,000 min) and 4.24% SEC Yield ($50,000 min). The average duration is ~1 year, so there is some term interest rate risk.
  • The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 3.81% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 4.09% SEC yield while holding a portfolio of investment-grade bonds with an average duration of ~6 months.

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks and are fully backed by the US government. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes.

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 11/4/2022, a new 4-week T-Bill had the equivalent of 3.66% annualized interest and a 52-week T-Bill had the equivalent of 4.77% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 2.82% SEC yield and effective duration of 0.10 years. SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 2.78% SEC yield and effective duration of 0.08 years.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov. You can also buy an additional $5,000 in paper I bonds using your tax refund with IRS Form 8888.

  • “I Bonds” bought between November 2022 and April 2023 will earn a 6.89% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More on Savings Bonds here.
  • In mid-April 2023, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.
  • See below about EE Bonds as a potential long-term bond alternative.

Prepaid Cards with Attached Savings Accounts
A small subset of prepaid debit cards have an “attached” FDIC-insured savings account with exceptionally high interest rates. The negatives are that balances are severely capped, and there are many fees that you must be careful to avoid (lest they eat up your interest). There is a long list of previous offers that have already disappeared with little notice. I don’t personally recommend nor use any of these anymore, as I feel the work required and the fees charged if you mess up exceeds any small potential benefit.

  • Mango Money pays 6% APY on up to $2,500, if you manage to jump through several hoops. Requirements include $1,500+ in “signature” purchases and a minimum balance of $25.00 at the end of the month.
  • NetSpend Prepaid pays 5% APY on up to $1,000 but be warned that there is also a $5.95 monthly maintenance fee if you don’t maintain regular monthly activity.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • The Bank of Denver pays 4.00% APY on up to $15,000 if you make 12 debit card purchases of $5+ each, receive only online statements, and make at least 1 ACH credit or debit transaction per statement cycle. Thanks to reader Bill for the updated info.
  • Presidential Bank pays 3.75% APY on balances between $500 and up to $25,000 (3.00% APY above that) if you maintain a $500+ direct deposit and at least 7 electronic withdrawals per month (ATM, POS, ACH and Billpay counts).
  • Liberty Federal Credit Union pays 3.45% APY on up to $20,000. You’ll need at least 15 debit transactions and other requirements every month.
  • Lake Michigan Credit Union pays 3.00% APY on up to $15,000. You’ll need at least 10 debit transactions and other requirements every month.
  • Find a locally-restricted rewards checking account at DepositAccounts.

Certificates of deposit (greater than 1 year)
CDs offer higher rates, but come with an early withdrawal penalty. By finding a bank CD with a reasonable early withdrawal penalty, you can enjoy higher rates but maintain access in a true emergency. Alternatively, consider building a CD ladder of different maturity lengths (ex. 1/2/3/4/5-years) such that you have access to part of the ladder each year, but your blended interest rate is higher than a savings account. When one CD matures, use that money to buy another 5-year CD to keep the ladder going. Some CDs also offer “add-ons” where you can deposit more funds if rates drop.

  • Lafayette Federal Credit Union has a a 5-year certificate at 4.42% APY ($500 min), 4-year at 4.32% APY, 3-year at 4.22% APY, 2-year at 4.11% APY, and 1-year at 3.80% APY. Early withdrawal penalty can be quite severe though, with the 5-year CD penalty being 600 days of interest. Anyone can join this credit union via partner organization ($10 one-time fee).
  • First Internet Bank has a 5-year certificate at 4.39% APY ($1,000 min), 4-year at 4.33% APY, 3-year at 4.28% APY, 2-year at 4.23% APY, and 1-year at 4.18% APY. The early withdrawal penalty for the 5-year is 360 days of interest.
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Inventory is limited and right now, but I see a 3-year CD at 4.85% (non-callable). Be wary of higher rates from callable CDs, which means they can call back your CD if rates drop later.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk, but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CDs at 5.15% (non-callable) vs. 4.17% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.
  • How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate which is quite low (currently 0.10%). This feature is not currently interesting because as of 11/6/2022, the 20-year Treasury Bond rate was 4.49%.

All rates were checked as of 11/6/2022.

Filed Under: Banking, Deals & Offers, Investing //

Citi Double Cash Card: 2% Cash Back on All Purchases

Posted on November 4, 2022 // 83 Comments

The Citi® Double Cash Card is a popular rewards credit card as it offers 2% flat cash back on all purchases, not just specific categories. As of March 2022, $1 in cash back rewards is also 100 Citi ThankYou points for potentially even better reward redemptions (details below). For example, if you value a Citi ThankYou point at 1.5 cents per point (by using the Citi Premier card and redeeming them as airline miles for free flights), then that is effectively get 3% value back! I’ve had this card for years.

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • No annual fee.

There is a 0% APR balance transfer offer available, but I must warn you that if you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.

  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.99% – 28.99%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

Cash back details. Imagine you make a $100 purchase. 1 point per $1 spent is 100 points. You pay the $100 bill from your bank account, and get an additional 100 points. Final tally: 200 points = $2.00 back on $100 in purchases. In other words, still 2% cash back.

There is no longer a minimum redemption amount of $25 for direct deposits into your bank account or statement credit ($5 minimum for paper check). You can redeem as little as 1 point for 1 cent, cashing out down to the penny.

You can redeem for cash via statement credit, direct deposit to your bank account, or a paper check. The direct deposit works with any Citi bank account or verified non-Citi bank account. In the past, this just meant that you made two successful credit card payments from your non-Citi bank account.

Citi ThankYou point details. Since $0.01 in cash back rewards is the same as 1 Citi ThankYou point, it is very valuable that Citi lets you combine Citi Thankyou points across cards. From their FAQ:

Can customers combine points from multiple Citi accounts?
Absolutely, as long as all the Citi Accounts are owned by the same person. If they have one (or more) Citi credit cards participating in ThankYou® Rewards, Citibank consumer checking account and other linked banking products and services, an enrolled Citi Corporate Travel & Entertainment Card, they can combine the associated ThankYou® accounts into 1 ThankYou® Account. Please note that if they combine their ThankYou® Accounts, points are not separated based on which Citi Account they were earned and are displayed as a total among all Citi Accounts.

If you have the Citi® Double Cash Card AND the Citi Premier Card:

  • By having the Citi Premier Card, you can transfer the ThankYou points earned on the Citi Double Cash to participating airline mileage programs on a 1:1 basis including JetBlue TrueBlue, Virgin Atlantic, Singapore Airlines, Cathay Pacific, EVA Air, Etihad, Flying Blue by Air France and KLM, and Thai Airways.
  • By having the Citi Double Cash, you can cash out the ThankYou points earned on the Citi Premier Card (which has the special feature of paying 3X points at Supermarkets, Restaurants, Gas Stations, Air Travel, and Hotels).

If you have the Citi® Double Cash Card AND the Citi Rewards+ Card:

  • By having the Citi Rewards+ Card, you get 10% Points Back for the first 100,000 ThankYou® Points you redeem per year. For example, if you earn and redeem 20,000 ThankYou points, you’ll get 2,000 points rebated back to your account.
  • The Citi Rewards+ Card automatically rounds up to the nearest 10 points on every purchase, so for example a $1 parking charge or $2 cup of coffee can earn 10 points. ).

If you have the Citi® Double Cash Card AND the Citi Custom Cash Card:

  • By using the Citi Custom Cash Card, you get 5% cash back (5X Thank You points) on your top eligible spending category up to $500 spent each monthly billing cycle. (The Citi Double Cash card does not have any special categories.)
  • By using the Citi Double Cash, you get 2% cash back (2X Thank You points) on all other purchases. (The Citi Custom Cash card only earns 1% cash back on all other purchases.)

You can combine all of your various ThankYou points account into one account by calling Citi ThankYou at 800-842-6596 or the number on the back of your card. Alternatively, you can try it online by logging into your ThankYou account and clicking on “Points Summary” in the top right corner where it says “Hi [Your Name]”. See below:

As you can see, Citi has been steadily improving their ThankYou point program to make it more rewarding to hold multiple Citi credit cards. It is good for the consumer to have competition with Chase Ultimate Rewards, American Express Membership Rewards points, and Capital One Miles.

Bottom line. The Citi® Double Cash Card lets you earn 2% cash back on all purchases: 1% when you buy plus 1% as you pay. Everyone should have a 2% cash back card in their purse/wallets, even if they have other cards with higher cashback in specific categories. I’ve had this card for several years now. You can also convert $1 in cash back into 100 Citi ThankYou points, which offers additional flexibility and potentially more valuable redemption options when combined with other Citi rewards cards.

Filed Under: Credit Cards, Deals & Offers //
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