8 comments

  1. VP says:

    The CIT post says 1.35% on balances over $100K. Your post make it seems like you just need $100 to get 1.35% on your money. Plus how many people out there has $100K tonopen a savings account.

    • Aaron says:

      Thanks for the comment VP. That phrasing is a bit confusing. They say, “1.35% on balances up to $100,000” – so you get that rate on anything from $100 to $100k. On balances over $100k however, you only get 1.30% (I’m sure that would still be a sizable return with that chunk of change!)

  2. Keith Frasier TGOTY says:

    Hello all. It’s Keith the Thrifty Guy of the Year again. 1.35% is not a bad rate considering what most banks pay, but I can tell you how I make 5% Yes, you read that right, 5% with only 10 bucks to open the account paid quarterly. The only “catch” is that the 5% only applies to the first $5,000 bucks. But if you and your spouse both sign up, that’s 5% on up to 10,000 bucks. Just google Insight Visa Prepaid card. After you get the prepaid card, you can sign up for the free savings account at 5%. You might be thinking ‘how can they do this’? The reason they can is their primary business is the prepaid card. They hope you load lots of money on the prepaid card and then every time you use the card they get a small transaction fee. The more people use the card, the more money they make. They offer the savings account to sweeten the deal, knowing that most people don’t even have 5,000 to save in the first place. So it’s a safe bet for them, and it’s easy money for you! Why park thousands of bucks in a bank earning .01% when you can earn 5% like this thrifty guy. If you have more than 10,000 to save just google simply paid visa card because they are another company I have used for over 3 years and they offer 5% as well.

  3. Keith Frasier TGOTY says:

    P.S. If you don’t want to fool with the prepaid card stuff I mentioned above to get the 5%, an easy alternative is Ally Bank which I also currently use. They are now paying 1.2 % and you can open an account with as little as a dollar. They are Nation wide, you can sign up online, 24/7 toll free phone support and customer service and best of all, no monthly fees!

  4. Larry MacDonald says:

    The fine print on the CIT page says you need to keep $100,000 at CIT for at least 3 months in order to get $100. Am I reading this incorrectly?

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