Pretty good list with reviews.
3 Likes
Check your local CU
mine is running a 12 month no penalty cd 5.25
Thanks, I will take a look. Amex is my preferred choice since I have some accounts with them already, but maybe another big bank is better. Edit: Looks like Amex is 4.6% instead of 4.35% if you have a platinum card.
Want to remain liquid so a savings account is ideal since I plan to self-insure more life events going forward. Without getting too specific, I would have been better off self-insuring my pet insurance over the past 2ish years. I have funds if something happened immediately, but I would rather pay myself $100/mo than someone else.
Merrill Preferred Deposit is 5.02%, fully liquid.
You can do a bit better, but I am okay with the gap because of the instant transfers to/from our BoA checking accounts, which we run pretty lean.
There is a minimum initial deposit ($100k iirc) but you donāt have to maintain that. No minimum once itās open.
The Preferred Rewards program also juices the cash back rewards on the credit cards by up to 75%.
So thatās 2.63-5.25% back on everything we put on our BoA cards, with no annual fees.
4 Likes
Where did you see that? Iāve had an Amex savings for a couple of years now. I believe mine is 4.35% and Iāve been a platinum card holder for years.
Not that I care much, more curiosity. I donāt really use Amex (savings) anyway.I barely keep any money in there (~$10k) - I use it as my backup in case I need a quick/easy transfer into the checking. 
The rate is decent enough so I leave it be. Most of my (liquid) funds are at 5.5%. I believe there are higher places out there now.
I was setting up an Amex savings account anyway since I will just pay from cards from that and it appeared after I entered my info. The terms said that Plat. cardholders who are opening their first HYSA are eligible.
Is Wells Fargo a good place open a CD for 3,6,12 months?
While WF isnāt terrible there are better options. Check in the fixed income section of your brokerage account ( Schwab, Fidelity, whoever ) and you should see a good number of choices.
1 Like
Ahh, so it sounds like its promotional. That makes more sense.
This sound pretty greatā¦ may have to dig into this. 
Edit: Is it true you have to call an advisor every time you want to move funds? That would be an immediate killer for me, if that is the case.
Two minor drawbacks for full disclosure:
- Minimum transfer in is $1,000 (no minimum for transfers out).
- This isnāt a sweep product, so once you transfer cash into the Merrill CMA you have to then spend another ~15 seconds moving the cash into Preferred Deposit (withdrawals work similarly in reverse).
And btw, it looks like the rate dropped to 4.92% overnight. 
1 Like
Bait & switch. I see what you did there. 
1 Like
I did their HYSA last month. Super easy and itās just matter of punching in how much you want to transfer. Paper work said certain cards get you few more point which has not happened for me and Iām locked in at 4.35%. Platinium card gets you 4.65%.
td bank has a 5% apy on a 6month, barclays 5.3% apy on 1 year, popular 5.35 on 1 year, marcus 5.5 on 1 year
you can do better than this with straight treasuries ATM.
2 Likes
No rate cut. That is allā¦
/me hits snooze until the July Fed meeting 
2 Likes
Car flipping.
Vanguard has the Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) - You can write checks from it as well. Sitting at 5.3% with minimum investment of 3k.
I debated between this and the AMEX HYSA at 4.6%ā¦opted to go with VG for the additional %.
3 Likes
Iād let Zuck empty my sock drawer right now if you know what I mean