Save App Review: 9.07% APY Advertised vs. 0.00% APY Actual Return on Market Savings (Full Historical Results Now Posted)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Update February 2024: Save now provides a link to their actual returns for their 1-year Market Savings across all portfolios. But be careful, as much of what is shown at first glance is for products that haven’t actually completed their entire terms. You need to scroll all the way left to find numbers for products that have reached maturity and actually paid out any returns. For example, starting December 2022 and ending December 2023, or January 2023 through January 2024. Screenshot taken 2/29/24.

Update January 2024: I have updated this review with my final return numbers, along with additional details from my bank and brokerage statements. I really wish it were different, but unfortunately my experience was not unique. I have gotten a lot of messages from people who are unhappy that they received a 0% actual return on their Market Savings investments. I hope it can help prospective users make a more educated decision.

Detailed, full review:

The Save app advertises a Market Savings Account that “combines the security of FDIC-insured bank deposits with the upside potential of market returns”. I took a glance at the advertised yields (see below) and quickly filed it under “probably too good to be true”, but still came back and took a shot due to the “free” 6X leverage offered where I could invest $1,000 and get the returns of $6,000 worth of investments.

Here is a screenshot of their advertised rates, taken 2/29/24:

A short theoretical story. Let’s say you have $1,000 and put it into a 1-year CD at an FDIC-insured bank that pays 5% APY. At the end of the year, you’d have $1,050 guaranteed. Now, imagine you went to Vegas and instead bet that $50 interest on red at the roulette table. Worst-case, you’d lose the $50 and still have $1,000. Best-case, you’d double the $50 and end up with $1,100. A 10% annual return! Now, you might charge a fee to others for this “service”. Nothing if they lose, but a little cut if they win. So $1,000 worst-case, and $1,096 if they win ($4 fee for the service).

This gives you a basic idea of what I imagined was going on here, except replace Vegas with some fancy derivatives to give you market exposure to a portfolio of stocks and bonds.

The longer Save version. Here it is, straight from Save:

Every Save® account is connected with a FDIC-insured bank account. Your deposits are never at risk. We only invest the interest on your deposits, so no matter what happens with the ups and downs of the markets, your initial deposit is never at risk for investment loss.

This app is a combination of an FDIC-insured bank account, an SIPC-insured brokerage account, and an SEC-registered investment advisor. Your money is placed into an FDIC-insured account at Webster Bank that doesn’t earn any interest. Instead of paying you interest, they will buy a portfolio of securities that offer exposure to market products like stocks and bonds. These securities are held in a brokerage account with Apex Clearing, the same firm used by brokers like Robinhood, WeBull, etc. As your financial advisor, they will charge you a fee of 0.35% annually for this service. Ex. 0.35% of $1,000 is $3.50 a year. 0.35% of $10,000 is $35 a year.

This is all taken from Save’s official documents: press release, terms and conditions, SEC Form ADV, deposit agreement, and Form CRS.

Upon opening Market Savings and initiating a deposit to the Deposit Account, Save will, on behalf of you:

– deposit your funds in full into the Deposit Account provided by Webster, member FDIC and,
– purchase a strategy–linked security selected based on your risk tolerances within a Client Account

The Market Savings Product is comprised of a Deposit Account with Webster Bank, N.A. and a Client Account with Apex Clearing Corporation.

SAVE Advisers is an investment adviser registered with the SEC. SAVE Advisers provides its clients with combined banking products and wealth management services through a web-based algorithmically driven wrap-fee investment advisory program (the “SAVE Market Savings Wrap Program”).

The SAVE Market Savings Wrap Program is designed for investors with a cash savings investment profile. The investment objective of the SAVE Market Savings Wrap Program is to enhance our clients’ cash savings investment profile by providing attractive returns on capital using Save’s core investment philosophy while preserving their initial investment.

On the Market Savings Wrap Program, Clients will pay a wrap fee at a rate of 35 basis points (0.35%) per annum (one basis point is 1/100 of 1%) on either 1.) the total notional amount of each strategy–linked security or 2.) the total notional value of the Client Deposit Account (whichever is greater).

Save products are intended for conservative investors who are mostly concerned about the protection of their principal investments.

This reminds me of the No Risk Portfolio with 100% Money Back Guarantee. Your market-linked investment may go up 10%, 100%, or whatever, but the worst thing that can happen is it goes to zero (and you still get back your initial investment). According to this WSJ article (paywall), the CEO says the chance of a zero return in any given year is about 15%. This suggests that they are using some sort of leverage. (They also say the returns will count as long-term capital gains, unlike ordinary bank interest.)

The investments in Save portfolios are held for over a year so they are taxed as long-term capital gains.

This reminds me of the structured investments and “equity-linked returns with no downside” offered by many insurance companies. The insurance companies have much more onerous early withdrawal penalties where you can lose more than your initial principal, so this seems like a much lower cost option (even if still not what I want for my primary portfolio).

Where do they get those high advertised returns? Those are back-tested numbers:

Average annual returns are based on hypothetical back-tested performance by Save of the Save Moderate Portfolio from 2006 to present.

What happens if I try to withdraw my investment before the end of my term? There is a early withdrawal fee (a slightly complicated formula), but you’ll always at least get back your initial principal.

I understand that if I terminate my account prior to the completion of an investment term I may forgo all gains and receive back only my initial deposit.

Update: My final results from December 2022 to December 2023. I deposited $1,000 in December 2022, and ended up with… $1,000 in December 2023. I got back my initial $1,000 and that was it. All of the other investments apparently matured at a value of zero. This is despite having been told that I had positive returns in the middle of my term.

After my initial sign-up and $1,000 investment of my own money in December 2022, I did later participate in Save’s referral program and that did later result in additional earnings (my earnings were the same as the referred earnings). If you count this money, then I received a positive return. However, I don’t feel that this is representative of what you (the reader) could necessarily achieve on your own, so I chose to focus only on what I would have gotten without the ability to refer other users. I simply count the $1,000 of my own money and the $5,000 equivalent balance invested due to using someone else’s referral. On that money, my return was the same as everyone else who invested in my portfolio from December 2022 to December 2023: zero.

Save did put my initial $1,000 in an FDIC-insured bank account and just kept it there – nice and safe – doing absolutely nothing. No interest was earned. Each month, I got a bank statement and a brokerage statement. Here is a screenshot of my final bank statement showing $1,000 being sent back to me at the end of December 2023, after 12 months.

Below is a screenshot from my Save Brokerage statement, which was indeed held at Apex Clearing (a popular clearing firm for many fintechs, used by Robinhood, etc). Inside, they bought some sort of non-transparent, thinly-traded securities that were classified as corporate bonds. Perhaps someone with more advanced market knowledge can tell me more about these things. Example CUSIPs were 05600HTU9 and 05600H2F1.

Here is a tiny of bit info from FINRA:

The value of this security varied wildly through the year, from zero to $1 and all the way back to apparently zero?

How much of this security did they buy? In my case, it was about $15 worth per $1,000 invested. In comparison, earning 4% APY from a 1-year $1,000 traditional bank CD would equal $40.

I did sign up using a referral link and deposited $1,000 to qualify for the bonus $5,000 (at the time, lower now) for a total equivalent balance of $6,000. I thought this would be a good value bet, effectively leveraging any returns. Unfortunately, zero times anything is still… zero. I just got back my $1,000.

Now, I knew that a zero return was possible. A screenshot of the portfolio strategy that I picked initially is shown below. However, nearly every major asset classes had solid positive returns for 2023. Yet, according to Save’s own historical returns page (see top of post), the highest return for any of their multiple portfolios that were held from (December 2022 to December 2023) or (January 2023 to January 2024) was 1.20%, with the median return being zero. I’m afraid that I simply don’t understand what is inside the securities that they chose to buy, so I will not be investing anything further.

Honestly, I had high hopes for this product. It had potential and it didn’t even have to be that complicated. Again, look at this simple DIY principal-guaranteed investment linked to market returns.

Bottom line. The Save app advertises to folks “higher returns on their savings without the risks of the stock market.” They do appear to keep your principal safe in an FDIC-insured account, so indeed you can’t technically lose money. But it is unclear to me how they invest the rest. Despite their advertised 1-year return numbers, my personal experience was zero return (0.00%) on my 1-year term Market Savings investment that ran from December 2022 to December 2023. This matches their published actual returns for all investors. I did receive my initial principal back as promised.

Note: Save Advisers pays a Referral Bonus up to $5000/$10,000 [product specific] as more specifically described in the current Referral Program as outlined by the Advisor here: https://joinsave.com/referrals, for each successful client referral. This amount is subject to change at any time.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Charles Schwab Brokerage: Up to $2,500 New Deposit / Transfer Bonus (New & Existing Customers)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Updated with new transfer offer. Brokerage firms constantly compete for “assets under management”, and many are willing to give you cash to move over your existing portfolio from your existing broker over to them. Unfortunately, many of these offers are for new app startups with questionable customer service. How about a traditional firm with telephones connected to knowledgable humans working inside physical branches in major metro areas?

Charles Schwab is currently offering up to a $2,500 cash bonus depending the value of assets that you move over (qualifying net deposit of cash or securities) within 45 days of enrollment. The percentages aren’t the best, and the tiers are relatively high, but this is actually a brokerage I wouldn’t mind leaving my assets at for the long run. It’s also available to existing Schwab customers.

  • $200 with $50,000–$99,999 in qualifying new assets
  • $300 with $100,000–$249,999 in qualifying new assets
  • $600 with $250,000–$499,999 in qualifying new assets
  • $1,200 with $500,000–$999,999 in qualifying new assets
  • $2,500 with $1,000,000+ in qualifying new assets

The easiest option is often to perform an in-kind ACAT transfer of existing securities, which takes less than a week and all of your tax basis information should also move over after another few days. Your old broker may charge you an outgoing ACAT fee about about $75, although you should ask Schwab if they will reimburse you for this fee.

From the fine print and FAQ:

Accounts that are eligible for the Schwab Investor Reward include: Schwab retail brokerage accounts and individual retirement accounts (IRAs), including accounts enrolled in Schwab-sponsored investment advisory programs such as Schwab Intelligent Portfolios®, Schwab Managed Portfolios™, Schwab Managed Account Select®, Schwab Managed Account Connection®, and Schwab Wealth Advisory™.

Schwab Bank Investor Checking™ accounts do not qualify for this promotion whether they are linked to a brokerage or are stand-alone. If you make a deposit in a Schwab Bank Investor Checking™ account, you will not receive the award. The offer also does not apply to the Schwab Global Account™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, education savings accounts, Schwab Bank accounts, or accounts managed by independent investment advisors.

Can two clients in the same home get the award?

Yes. As long as both clients have individual accounts and separately qualify for the Reward, provided that each makes a qualifying net deposit.

Schwab appears to still be offering their $101 Starter Kit promo. But the FAQ says “Can this offer be combined with other offers? No. This offer can’t be combined with other offers.” I’m not sure if it counts as combining if you first open the new account for the Starter Kit bonus, wait, and then participate in this transfer offer.

One major drawback with Schwab is that the default cash sweep is not good. Still just 0.45% APY as of 2/29/24! Boo. You need to take proactive steps to avoid lost interest if you plan to keep significant amounts of cash in their default sweep account. Consider buying Treasury bills, ultra-short bond ETFs like MINT, or Treasury Bill ETFs like GBIL (still possible to lose value). See my separate post on the best alternative Schwab cash sweep options.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Upgrade Premier Savings: Up to $500 Deposit Bonus + 5.21% APY (Improved)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

(Update 2/27/24: Upgrade has improved this promotion in multiple ways: the base interest has been raised to 5.21% APY, all of the tiers have been improved ($50 is now $75, $200 is now $300), and a new $500 tier has been added.)

Upgrade is offering up to a $500 deposit bonus via referral link when you open their standalone Premier Savings account and make a deposit of at least $15,000 in the first 30 days and leave it there for at least an additional 60 days. No credit check for me. FDIC insurance through Cross River Bank.

Note: This is a separate bonus from the ongoing $200 Upgrade Rewards Checking bonus, which had a direct deposit requirement. You can add on a “Performance Savings” account onto a Rewards Checking account, while this offer is for a different “Premier Savings” account.

Per the fine print, you should be able to get this bonus as long as this is your first “Premier Savings” account. It doesn’t matter if you already got the Rewards Checking bonus (as I did). You just need to make sure you use a referral link with the promotion attached.

If you have never had a Premier Savings account through Upgrade (a “New Customer”), you can receive a Welcome Bonus (defined below) if you (1) use an Existing Customer’s unique referral link to open a new Premier Savings account, subject to account approval, by the Offer Period, (2) make a deposit within 30 days of opening the new account, and (3) after the initial 30-day period, maintain at all times during an additional 60 days the minimum account balance presented to you (a “Qualified Registration”).

The account opening process for my first Upgrade account was very quick and easy, literally under 5 minutes. I did not have to upload any extra documentation and I did not experience any hard credit checks. The account was open and ready the day after application. If you are an existing customer (as I was this time), it was even faster. All my details were pre-filled and so it just took a few clicks. (Update: Some users report having much higher ID verification requirements. So YMMV.)

All of my previously-linked external bank account details were also available to make a transfer. Upgrade uses Finicity (owned by Mastercard) for linking external bank accounts.

Here are the highlights of the Premier Savings account:

  • 5.21% APY as of 2/27/24 with $1,000 minimum balance required to earn interest.
  • No direct deposit requirement (unlike the Performance Savings).
  • No monthly fees.

Napkin math (Effective APY). If you deposit towards the end of the 30-day funding period, your technical minimal holding period is 60 days.

For the $15,000, $30,000, and $100,000 deposit tiers, earning 0.50% on your funds with a 60 day holding period works out to an additional 3.00% annualized yield. If you assume the current 5.21% APY, that adds up to a total effective interest of roughly 8.21% APY annualized for 2 months.

For the $50,000 deposit tier, earning 0.60% on your funds with a 60 day holding period works out to an additional 3.60% annualized yield. If you assume the current 5.21% APY, that adds up to a total effective interest of roughly 8.81% APY annualized for 2 months.

A straightforward deposit promotion with a smooth application and short hold period that doesn’t incur a hard credit check. The savings account also has a high base APY to keep around long-term. Finallly, it also stacks with another $200 checking account promotion from the same place. This is my Upgrade Premier Savings up to $500 referral link. Thanks if you use it.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Wells Fargo $325 Checking + $225 Savings Account Bonuses

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Updated with current $325 Checking + $225 Savings offers. Wells Fargo has brought back a few larger bonuses for both new checking and savings account customers. The checking bonus requires direct deposit and the savings bonus requires a $10,000 new money deposit for at least 90 days. You must live in an eligible zip code, but their footprint is pretty big. Found via DoC. Currently, the offers end on April 9th, 2024.

  • $325 bonus for a new Everyday Checking account. You are not eligible for this offer if you currently have Wells Fargo consumer checking account or if you have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months.
  • $225 bonus for a new Way2Save® Savings account. You are not eligible for this offer if you currently have Wells Fargo consumer savings account or if you have received a bonus for opening a Wells Fargo consumer savings account within the past 12 months.

$325 Everyday Checking account bonus details.

  • Open a new Everyday Checking account with a minimum opening deposit of $25 by April 9, 2024 online via the link above. If you open in-branch, you must first generate a bonus offer code via the link above.
  • Within 90 calendar days of account opening (the “qualification period”), receive a total of $1,000 or more in qualifying direct deposits to your new checking account. “A qualifying direct deposit is an ACH (Automated Clearing House) automatic electronic deposit of your salary, pension, Social Security, or other regular income into your bank account.”
  • Once the 90-day qualification period has elapsed, they will deposit any earned bonus into your new checking account within 30 days.

In the past, Wells Fargo has not done a “hard credit check” upon a new account opening, while also being pretty flexible with what qualifies as a direct deposit.

The Wells Fargo Everyday Checking account monthly service fee is $10, but it is waived with one of the following each fee period:

  • $500 minimum daily balance
  • $500 or more in total qualifying “electronic” deposits

$225 Way2Save Savings account bonus details.

  • Open a new new Way2Save Savings account with a minimum opening deposit of $25 by April 9, 2024 online via the link above. If you open in-branch, you must first generate a bonus offer code via the link above.
  • Within 30 calendar days of account opening (the “qualification period”), deposit $10,000 or more in new money to your new savings account and maintain at least a $10,000 balance for 90 days after account opening. New money is money that is new to the customer or new to Wells Fargo (deposited into the customer’s new savings account from outside of Wells Fargo and Company and all affiliates, or from a Wells Fargo account not owned by the customer).
  • Bonus will be deposited into your new savings account within 30 days after you have met all offer requirements.

The Way2Save interest rate is a horrible 0.01% APY. However, receiving the $225 bonus for holding $10,000 for 90 days works out to roughly a 9% annualized rate of return over those 90 days.

The Way2Save® Savings $5 monthly service fee can be avoided with one of the following each fee period:

  • $300 minimum daily balance
  • 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account
  • 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account.
  • 1 or more Save As You Go® transfers from a linked Wells Fargo checking account.
  • Primary account owner is 24 years old or under. (When the primary account owner reaches the age of 25, age can no longer be used to avoid the monthly service fee.) Customers 12 and under must have an adult co-owner.
My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


IKEA Family Discount: $15 off $150, $30 off $300, $50 off $500 (Ends 3/3/24)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

New discount up to 10% off, ends 3/3/24. IKEA has a limited-time “Spend and Get” promotion offering $15 off $150+, $30 off $300+, and $50 off $500+ purchases (all amounts are before sales tax and other taxes). U.S. only. Valid in-store and online. IKEA Family member number or IKEA Business Network account number required. IKEA Family is their loyalty program and is free to join.

There are some exclusions, including gift cards:

IKEA Family – Spend and Get Offer – Get $15 Off Your Purchase of $150 or more (pre-tax); Get $30 Off Your Purchase of $300 or more (pre-tax); Get $50 Off Your Purchase of $500 or more (pre-tax)*

Must scan or sign-in with IKEA Family member number or IKEA Business Network account number in order to receive offer. Minimum purchase amount must be met in a single transaction before taxes. Discount applied before tax, shipping, and handling. Offer will apply automatically at check-out if purchase qualifies. Not valid on IKEA Gift Cards or payment of your IKEA credit card. Offer excludes Click & Collect, Kitchen Planning and other services. Not valid in IKEA Swedish Restaurant or Bistro. Limit: one redemption per IKEA Family member number or IKEA Business Network account number. Offer tiers cannot be stacked and offer cannot be combined with other IKEA offers or coupons. Not valid on previous purchases. Discount applied proportionally across items purchased, as shown on receipt. On returns, only the net purchase price as shown on receipt is refunded. Other restrictions may apply. See store or IKEA-USA.com for more details. ©Inter IKEA Systems B.V. 2024.

IKEA coupons are pretty rare, other than their ongoing $25 off $250 moving coupon.

Right now, some people are also being targeted with a Chase Offer that offers 10% off at IKEA. It may be worth logging into your Chase account online and look for it in the “Chase Offers” box. Unfortunately, I did not see it under any of my cards.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Amtrak Guest Rewards Preferred Mastercard: 40,000 Point Offer (Worth $1,000 in Amtrak Fare or $400 in Amazon Gift Cards)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

The Amtrak Guest Rewards Preferred Mastercard, issued by First National Bank of Omaha (FNBO), offers a variety of perks for Amtrak riders. It also currently has a 40,000 points limited-time offer that is worth up to roughly $1,000 value in Amtrak train fare or $400 in Amazon gift cards. Here are the highlights:

  • 40,000 bonus points after spending $2,000 in the first 3 billing cycles of account opening.
  • Roundtrip companion coupon upon account opening and card anniversary.
  • One-class upgrade upon account opening and card anniversary.
  • Station Lounge pass upon account opening and card anniversary.
  • 3X points per $1 spent on Amtrak travel, including onboard purchases.
  • 2X points per $1 spent on dining, travel, transit and rideshare.
  • 1X point per $1 spent on all other purchases.
  • 5% Amtrak Guest Rewards point rebate when you book your Amtrak redemption travel.
  • 20% rebate on food and beverage purchases on board, via statement credit on this card.
  • 1,000 Tier Qualifying Points (TQPs) every time you make at least $5,000 in purchases in a calendar year, up to 4,000 TQPs
  • Amtrak points will not expire as long as your card account is open.
  • No foreign transaction fees.
  • $99 annual fee.

This offer is not going to be attractive for everyone, but it can be very valuable if you either enjoy recreational train travel or if you can use it for your commuting needs.

Amtrak points are currently worth roughly 2.5 cents per points towards Amtrak train fare. That means 40,000 points is worth approximately $1,000 in Amtrak train fare. Amtrak redemptions are variable and directly-linked to the cash cost, so you can use points on basically any ticket. There is also the potential value of the companion coupon, lounge pass, and one-class upgrade.

The best value is for train fare, but Amtrak points do transfer to certain other hotel programs, although some require elite status in those programs.

Gift cards. You can also redeem for various gift cards at a rate of 5,000 points = $50 gift card. So 40,000 points would get you $400 in gift cards to Amazon, CVS, Kohl’s, Lowe’s, Starbucks, etc.

You could take the train across the entire country! There is an 18-hour Capitol Limited overnight train from Washington D.C. to Chicago in a “Superliner Bedroom” with a private bathroom.

You could then take the 3-day, 2-night trip on the California Zephyr from Chicago to San Francisco. Enjoy the views as you cut through both the Rockies and Sierra Nevada mountain ranges.

Bottom line. The Amtrak Guest Rewards Preferred Mastercard currently has a limited-time offer that can get you roughly $1,000 value in Amtrak train fare, with an $99 annual fee. The potential value is high, but I don’t know if it is too niche to include in my list of Top 10 Best Credit Card Bonus Offers. For you folks that prefer cash or near-cash, you could also get $400 in Amazon gift cards with 40,000 points, minus the $99 annual fee.

Note: In the past, if you start a booking on Amtrak.com, they have sometimes offered you an extra $100 statement credit during the checkout process before final payment. I just tried, but it was only 20,000 points + $100.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Marriott Bonvoy Business® American Express® Card Review: 3 Free Night Awards Offer (Worth Up To 150K Total Points)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

The Marriott Bonvoy Business® American Express® Card is the re-branded business credit card of the Marriott Bonvoy program. This card offers unique perks for Marriott customers, along with a generous new customer incentive (especially during a limited-time offer). Here are the highlights:

  • Earn 3 Free Night Awards after you use your new Card to make $6,000 in eligible purchases within the first 6 months of Card Membership. Each Free Night Award has a redemption level up to 50,000 Marriott Bonvoy(R) points, for a total potential value of up to 150,000 points, at hotels participating in Marriott Bonvoy(R). Certain hotels have resort fees. Terms apply.
  • New award night top-off option: Marriott now allows you to supplement your free night certificates with up to 15,000 points of your own. For example, the 50k Award can be used to book a hotel at 65,000 points level if you spend 15,000 points of your own. This opens up the number of potential hotels available in expensive areas.
  • Room rate discount: 7% discount on eligible Marriott Bonvoy hotel bookings as a benefit of being both a Marriott Bonvoy(R) member & a Marriott Bonvoy Business(R) American Express(R) Card Member when you book directly with Marriott through an eligible channel for a participating property under the Amex Business Card Rate.
  • 6X Marriott Bonvoy points at hotels participating in the Marriott Bonvoy(R) program.
  • 4X points at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
  • 2X points on all other eligible purchases.
  • Receive a Free Night Award every year after your Card renewal month. Plus, earn an additional Free Night Award after you spend $60k in purchases on your Card in a calendar year. Award can be used for one night (redemption level at or under 35,000 Marriott Bonvoy(R) points) at hotels participating in Marriott Bonvoy(R). Certain hotels have resort fees.
  • Complimentary Marriott Bonvoy Gold Elite Status with this card.
  • Elite Night Credits: Receive credit for 15 nights towards the next level of Marriott Bonvoy Elite status, each calendar year.
  • Annual fee is $125. (See Rates and Fees)
  • Terms Apply.

Keep in mind the following terms and conditions:

Welcome offer not available to applicants who (i) have or have had the Marriott Bonvoy™ Premier Plus Business Credit Card from Chase, the Marriott Rewards® Premier Plus Business Credit Card from Chase, the Marriott Bonvoy Business™ Credit Card from Chase, or the Marriott Rewards® Business Credit Card from Chase in the last 30 days, (ii) have acquired the Marriott Bonvoy Boundless™ Credit Card from Chase, the Marriott Rewards® Premier Plus Credit Card from Chase, the Marriott Bonvoy Bold™ Credit Card from Chase, the Marriott Bonvoy™ Premier Credit Card from Chase or the Marriott Rewards® Premier Credit Card from Chase in the last 90 days, or (iii) received a new Card Member bonus offer in the last 24 months on the Marriott Bonvoy Boundless™ Credit Card from Chase, the Marriott Rewards® Premier Plus Credit Card from Chase, the Marriott Bonvoy Bold™ Credit Card from Chase, the Marriott Bonvoy™ Premier Plus Credit Card from Chase or the Marriott Rewards® Premier Credit Card from Chase.

This is more specific than before, note the different 30-day, 90-day, and 24-month waiting periods that may now include consumer cards. American Express usually gives you a pop-up warning during the application process if you are ineligible based on their records. This is why you should be looking to get the best possible bonus (like a limited-time offer) when you do apply.

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. The business type is called a sole proprietorship, and these days many people are full-time or part-time consultants, freelancers, eBay/Amazon/Etsy sellers, Uber/Lyft drivers, or other one-person business owners. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

NEW: Certificates can be combined with up to 15,000 points for nicer hotels. Marriott now allows you to supplement your free night certificates with up to 15,000 points of your own. In other words, if your certificate is worth 35,000 points, the maximum hotel value you can redeem for is 50,000 points after adding 15,000 points of your own. if your certificate is worth 50,000 points, the maximum hotel value you can redeem for is 65,000 points after adding 15,000 points of your own.

You can use the Marriott free night search tool to price out some sample hotels for yourself. Also, here are details on the Free Night Award Top Off option.

What is a reasonable estimate for the value of a Marriott Bonvoy point? Based on multiple real-world searches of redeemable properties, I choose to use a conservative estimate of 0.70 cents per Bonvoy point. That means 50,000 Bonvoy points = estimated $350 redeemable value, and 100,000 Bonvoy points = estimated $700 redeemable hotel night value. However, I almost always get closer to 1 cent per point value when I actually choose to redeem. Remember to compare the full price of the hotel price with all taxes, as that is what you would have to pay instead of just points.

50k Free Night Award (Welcome Offer). Based on a few quick searches (log in and try to book with points), the following premium hotels can potentially be booked for 65,000 points or less. (* Marriott no longer publishes a fixed point award chart):

  • The Westin Hapuna Beach Resort, Big Island, Hawaii
  • The Royal Hawaiian in Waikiki, Oahu, Hawaii
  • The Ritz-Carlton, Bali
  • Le Meridien Maldives Resort & Spa
  • JW Marriott Venice Resort & Spa
  • Renaissance Orlando at SeaWorld®
  • Walt Disney World Swan Reserve
  • The Ritz-Carlton Orlando, Grande Lakes

35k Free Night Award (Anniversary). At your card anniversary, you will receive a Free Night Award that is good for one night (redemption level at or under 35,000 Marriott Bonvoy points) at a participating hotel. This excludes the very top properties, but for regular travelers it will be very easy to get your $95 or even $125 value. Many W Hotels, Westin, and even some Ritz-Carltons worldwide are included. Here are some sample hotels that may qualify under the 35,000 point limit (* Marriott no longer publishes a fixed point award chart):

  • Sheraton Kona Resort (Big Island, Hawaii)
  • Courtyard Waikiki Beach (Honolulu, Oahu)
  • Sheraton Kauai Resort (Kauai, Hawaii)
  • W Atlanta
  • New York Marriott at the Brooklyn Bridge
  • Chicago Marriott Downtown Magnificent Mile
  • W Chicago
  • The Ritz-Carlton, Beijing, China
  • The S. Regis Bangkok, Thailand

You can expand this even further if you use the top-off option and look for hotels at up to 50,000 Bonvoy points.

Bottom line. The Marriott Bonvoy Business® American Express® Card is the co-branded business card between Marriott hotels and American Express. You also get a Free Night Award at card anniversary, which can be worth much more than the annual fee. Check out the current welcome offer, which can be redeemed for multiple free nights at hotels around the world.

Also see: Top 10 Best Small Business Card Bonus Offers.

(See Rates and Fees)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


IHG One Rewards Premier Card Review: 165,000 Bonus Points Limited-Time Offer

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

New limited-time offer. The IHG One Rewards Premier Credit Card is the IHG hotel co-branded card that includes special IHG perks like a free night award every year you keep the card, Elite status, and every 4th award night free. Here are the highlights:

  • 165,000 Bonus IHG Points after spending $3,000 on purchases in the first 3 months from account opening.
  • Free Award Night after each account anniversary year at eligible IHG hotels worldwide. Valid at IHG Hotels with a current point redemption cap of 40,000 points. NEW: You can now also pay the difference over 40,000 points to redeem your Anniversary Night at hotels above the 40,000 point redemption level.
  • 4th Award Night Free. Enjoy a free reward night when you redeem points for a consecutive four-night IHG(R) hotel stay. That means if you use points to pay for 3 nights in a row, the 4th night is free. You can even book 8 award nights total and get two of them free, and so on. Works on any award level.
  • Earn up to 26 total points per $1 spent when you stay at IHG Hotels & Resorts.
  • Earn 5 points per $1 spent on purchases on travel, at gas stations, and restaurants. Earn 3 points per $1 spent on all other purchases.
  • Automatic Platinum Elite status included as a Premier card member. IHG points also don’t expire when you are an Elite member.
  • Global Entry, TSA PreCheck® or NEXUS statement credit of up to $100 every 4 years as reimbursement for the application fee charged to your card.
  • No foreign transaction fees.
  • IHG One Rewards Bonus points are redeemable at Hotels & Resorts such as InterContinental®, Crowne Plaza®, Kimpton®, EVEN® Hotels, Indigo® Hotels & Holiday Inn®.
  • $99 annual fee.

Please note the following:

This product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.

What can you get with IHG points? The best redemption value for IHG points is for free hotel nights. The other options offer significantly less value. While the points don’t translate directly to a dollar value, but overall a conservation valuation is 0.50 cents of value per point, which would make 140,000 IHG points worth an estimated $700 value. You can perform the calculations for hotels that fit your needs. I tried a bunch of other various combinations and got between 0.5 cents and 0.8 cents per point equivalent value.

(IHG points are worth less than other points like Hyatt or Chase Ultimate Rewards points, but you get a lot more of them with this bonus!)

IHG stands for Intercontinental Hotel Group which has over 5,000 hotels including the following brands:

  • Intercontinental Hotels & Resorts
  • Crowne Plaza
  • Kimpton
  • Holiday Inn, Holiday Inn Express
  • Staybridge Suites
  • Candlewood Suites
  • Hotel Indigo
  • EVEN Hotels

Fourth Reward Night Free

The 4th Reward night free perk can be very valuable and nice to see on a card with no annual fee. You get the fourth reward night free when you redeem points for a consecutive four-night IHG hotel stay (only pay for 3 nights with points). It showed up automatically for me when booking with points online.

For each standard room Reward Night stay of 4 or more nights, every 4th night is free. Applies only to 4 or more consecutive nights within the same Reward Night point redemption room stay at the same property. With this benefit, eligible members will be charged the Reward Night point redemption rate for the first 3 nights, and 0 points for the 4th night of the stay, as applicable. Members can utilize the 4th Reward Night Free benefit on an unlimited number of stays annually.

IHG points expire after 24 months of inactivity, so if you keep up your activity then you can save up these free nights for later. Chase Ultimate Rewards points also convert to IHG points.

Total of 26X points per $1 spent when you stay at IHG. Here’s how this breaks down: Earn 10X points from IHG® for being an IHG One Rewards Member + 10X points with this card + 6X points from IHG® with Platinum Elite Status with Platinum Elite Status (a benefit of this card) = total of 26X points total at 5,400+ IHG® hotels & resorts.

The rewards on other purchases has improved to the following:

  • 5X IHG points per $1 spent at gas stations, dining, and travel (including hotels).
  • 3X IHG point per $1 spent on all other card purchases

I would keep this card if you can use the anniversary night certificate with the 40,000 point maximum value. You should be able to get $99 value out of it as long as you need a hotel night. Stay must be completed within 12 months from date of issue.

Don’t want a card with an annual fee? The no-annual fee Traveler version has a very competitive bonus right now.

Bottom line. The IHG One Rewards Premier Credit Card includes special IHG perks like a free night award every year you keep the card, Elite status, and every 4th award night free. As with most of these co-branded cards, the best value is obtained if you can redeem for IHG hotel nights.

Also see: Top 10 Best Credit Card Bonus Offers.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


IHG One Rewards Traveler Card Review: 100,000 Bonus Points Offer, No Annual Fee

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

New limited-time offer. The IHG One Rewards Traveler Card is the IHG hotel card that includes special IHG perks but with no annual fee. Here are the highlights:

  • 100,000 bonus IHG points after spending $2,000 on purchases within the first 3 months of account opening.
  • Earn up to 17 total points per $1 spent when you stay at IHG Hotels & Resorts. Earn 3 points per $1 spent on purchases on monthly bills, at gas stations, and restaurants. Earn 2 points per $1 spent on all other purchases.
  • No foreign transaction fees.
  • Fourth Reward Night Free when you redeem points for any 4+ night stay. That means if you use points to pay for 3 nights in a row, the 4th night is free.
  • IHG Rewards Bonus points are redeemable at Hotels & Resorts such as InterContinental(R), Crowne Plaza(R), Kimpton(R), EVEN(R) Hotels, Indigo(R) Hotels & Holiday Inn(R).
  • No annual fee.

Note the following:

This product is available to you if you do not have a current IHG One Rewards Credit Card and have not received a new
Cardmember bonus within the last 24 months. This does not apply to Business Card Credit Card products.

What can you get with IHG points? The best redemption value for IHG points is for free hotel nights. The other options offer significantly less value. While the points don’t translate directly to a dollar value, I would use a conservative estimate of 0.50 cents of value per point, which would make 80,000 IHG points worth an estimated $400 value. Not bad for a no annual fee card. You can perform the calculations for hotels that fit your needs. I tried a bunch of other various combinations and got between 0.5 cents and 0.8 cents per point equivalent value.

IHG stands for Intercontinental Hotel Group which has over 5,000 hotels including the following brands:

  • Intercontinental Hotels & Resorts
  • Crowne Plaza
  • Kimpton
  • Holiday Inn, Holiday Inn Express
  • Staybridge Suites
  • Candlewood Suites
  • Hotel Indigo
  • EVEN Hotels

IHG points expire after 24 months of inactivity, which is relatively long so with occasional activity you can easily save up these free nights for later. Chase Ultimate Rewards points also convert to IHG points.

The 4th Reward night free perk can be very valuable and nice to see on a card with no annual fee. You get the fourth reward night free when you redeem points for a consecutive four-night IHG hotel stay (only pay for 3 nights with points).

Total of 17x points per $1 spent when you stay at IHG. Here’s how this breaks down: Earn 5X points per $1 spent as an IHG® Rewards Club Traveler credit cardmember + 10X points per $1 spent from IHG® for being an IHG® Rewards Club Member, 5X points with this card, plus 2X points from IHG® with Silver Elite Status (a benefit of this card) for a total of 17X points total at any of their 5,400+ IHG® hotels & resorts.

Given my 0.5 cent per IHG point valuation, I would book my IHG nights on this card, but not my everyday purchases on an ongoing basis. I would just put a little spending on there to keep my IHG points from expiring.

  • 3 IHG points per $1 spent at gas stations, dining, utilities, internet, cable, and phone services
    and select streaming services.
  • 2 IHG point per $1 spent on all other card purchases

Upgrade to Premier? Downgrade to Traveler? If you can reliably use a anniversary night certificate (40,000 point value) and get $99 value out of it, you should consider going with the IHG Rewards Premier credit card mentioned on the same application page. The Premier card also adds some other small perks like Platinum Elite status and a TSA Precheck fee credit.

If you already have the Premier card and don’t want to pay for those added perks, you may consider asking if you can downgrade to this Traveler now without any annual fee.

Bottom line. The IHG One Rewards Traveler Credit Card now comes with no annual fee and a sign-up bonus. As with most of these co-branded cards, the best value is obtained if you can redeem for IHG hotel nights.

Also see: Top 10 Best Credit Card Bonus Offers.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Best Interest Rates on Cash – February 2024

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Here’s my monthly roundup of the best interest rates on cash as of February 2024, roughly sorted from shortest to longest maturities. There are often lesser-known opportunities available to individual investors, where you could earn a lot more money while keeping the same level of safety by moving to another FDIC-insured bank or NCUA-insured credit union. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you could earn from switching. Rates listed are available to everyone nationwide. Rates checked as of 2/5/2024.

TL;DR: Mostly minor movements. Still 5%+ savings accounts and short-term CDs, but no more 5-year CDs at 5% APY. Compare against Treasury bills and bonds at every maturity, taking into account state tax exemption.

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.

  • 5.32% APY ($1 minimum). Raisin lets you switch between different FDIC-insured banks and NCUA-insured credit unions easily without opening a new account every time, and their liquid savings rates currently top out at 5.32% APY. See my Raisin review for details. Raisin does not charge depositors a fee for the service.
  • 5.36% APY (before fees). MaxMyInterest is another service that allows you to access and switch between different FDIC-insured banks. You can view their current banks and APYs here. As of 12/6/23, the highest rate is from Customers Bank at 5.36% APY. However, note that they charge a membership fee of 0.04% per quarter, or 0.16% per year (subject to $20 minimum per quarter, or $80 per year). That means if you have a $10,000 balance, then $80 a year = 0.80% per year. This service is meant for those with larger balances. You are allowed to cancel the service and keep the bank accounts, but then you may lose their specially-negotiated rates and cannot switch between banks anymore.

High-yield savings accounts
Since the huge megabanks STILL pay essentially no interest, everyone should have a separate, no-fee online savings account to piggy-back onto 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 and solid user experience. 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 top rate at the moment is at Milli (app only) at 5.50% APY. BrioDirect at 5.35% APY. CIT Platinum Savings at 5.05% APY with $5,000+ balance.
  • SoFi Bank is now up to 4.60% APY + up to $325 new account bonus with direct deposit. You must maintain a direct deposit of any amount each month for the higher APY. SoFi has historically competitive rates and full banking features. See details at $25 + $300 SoFi Money new account and deposit bonus.
  • Here is a limited survey of high-yield savings accounts. They aren’t the highest current rate, but historically have kept it relatively competitive and I like to track their history.

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. Raisin has a 5-month No Penalty CD at 5.36% APY with $1 minimum deposit and 30-day minimum hold time. CIT Bank has a 11-month No Penalty CD at 4.90% APY with a $1,000 minimum deposit. Ally Bank has a 11-month No Penalty CD at 4.25% APY for all balance tiers. Marcus has a 13-month No Penalty CD at 4.70% APY with a $500 minimum deposit. Consider opening multiple CDs in smaller increments for more flexibility.
  • Lafayette Federal Credit Union has a 1-year certificate at 5.56% APY ($500 min). They also have jumbo certificates with $100,000 minimums at even higher rates, but a harsh 180-day penalty if you withdraw your CD funds before maturity. Anyone can join this credit union via partner organization ($10 one-time fee).
  • CIBC Agility Online has a 12-month CD at 5.51% APY. Reasonable 30-day penalty if you withdraw your CD funds before maturity.

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). Note: Money market mutual funds are highly-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 losses.

  • Vanguard Federal Money Market Fund is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 5.28% (changes daily, but also works out to a compound yield of 5.41%, which is better for comparing against APY). Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 5.39% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 5.15% 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, which can make a significant difference in your effective yield.

  • 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 2/5/24, a new 4-week T-Bill had the equivalent of 5.39% annualized interest and a 52-week T-Bill had the equivalent of 4.64% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 5.17% SEC yield and effective duration of 0.10 years. SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 5.24% 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 2023 and April 2024 will earn a 5.27% 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.

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.

  • OnPath Federal Credit Union pays 7.00% APY on up to $10,000 if you make 15 debit card purchases, opt into online statements, and login to online or mobile banking once per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization. You can also get a $100 Visa Reward card when you open a new account and make qualifying transactions.
  • Credit Union of New Jersey pays 6.00% APY on up to $25,000 if you make 15 debit card purchases, opt into online statements, and make at least 1 direct deposit, online bill payment, or automatic payment (ACH) per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Pelican State Credit Union pays 6.05% APY on up to $20,000 if you make 15 debit card purchases, opt into online statements, log into your account at least once, and make at least 1 direct deposit, online bill payment, or automatic payment (ACH) per statement cycle. Anyone can join this credit union via partner organization membership.
  • Orion Federal Credit Union pays 6.00% APY on up to $10,000 if you make electronic deposits of $500+ each month (ACH transfers count) and spend $500+ on your Orion debit or credit card each month. Anyone can join this credit union via $10 membership fee to partner organization membership.
  • All America/Redneck Bank pays 5.30% APY on up to $15,000 if you make 10 debit card purchases each monthly cycle with online statements.
  • 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.

  • Library Of Congress Federal Credit Union has a 60-month CD at 4.84% APY with $500 minimum. Shorter terms are pretty competitive as well: 4-year at 4.89% APY. 3-year at 5.25% APY. 2-year at 5.20% APY. 1-year at 5.35% APY. The early withdrawal penalty for the 5-year is 180 days of interest. Anyone can join this credit union via partner organization.
  • BMO Alto has a 5-year CD at 4.60% APY. 4-year at 4.60% APY. 3-year at 4.60% APY. 2-year at 4.75% APY. 1-year at 5.30% APY. No minimum. The early withdrawal penalty (EWP) for CD maturities of 1 year or more is 180 days of interest. For CD maturities of 11 months or less, the EWP is 90 days of interest. Note that they reserve the right to prohibit early withdrawals entirely. Online-only subsidiary of BMO Bank.
  • 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 non-callable CD at 4.10% APY (callable: no, call protection: yes). Be warned that now both Vanguard and Fidelity will list higher rates from callable CDs, which importantly 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 [n/a] (callable: no, call protection: yes) vs. 4.16% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.

All rates were checked as of 2/5/2023.

Photo by micheile henderson on Unsplash

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Laurel Road High Yield Savings Deposit Bonus: 5.00% APY + Up to $200 (Referral Only)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Laurel Road is a digital brand of KeyBank that reminds me of SoFi in that they are building a relationship that starts with student loan refinances and then expands to personal loans, mortgages, bank accounts, and credit cards. Last year, I opened a Laurel Road checking account that currently includes a new customer bonus worth up to $340 during the first year.

Laurel Road is running a new up to $200 deposit bonus for their High Yield Savings Account by referral only (that’s mine). This bonus is on top of the standard interest rate, which is currently a competitive 5.00% APY. Here are the steps:

  • Open a High Yield Savings account before April 30th, 2024 using a referral link that shows this offer. Offer not available on their regular website.
  • Deposit at least $1 in the first 20 calendar days of account open.
  • Have at least $5,000 (or whatever tier you pick) in your account by calendar day 90 after open. $50 bonus for deposit total between $5,000–$14,999.99. $100 bonus for deposit total between $15,000–$29,999.99. $200 bonus for deposit total of $30,000+.
  • Once the requirements are met, the bonus amount will mailed to you as a check within 45 days of meeting the requirements. Your account must be open to receive the bonus, no other form of payment will be provided.

Importantly, my reading of the terms is that there is no minimum hold period. The fine print clearly states:

*Must deposit a minimum of $1 within the first 20 days and must have the relevant tiered account balance on the 90th day.

Napkin math. Given that there is no minimum hold period, the annualized yield is theoretically sky-high. Note that the $50 bonus is at best a 1% bonus on $5,000 deposited, while the $100 and $200 bonuses are at best a 0.67% bonus on either $15,000 or $30,000, respectively. This is pretty solid since the standard APY is already competitive. Even if you held the money in there for 60 days, the $100/$200 bonuses would work out to an extra 4% annualized. Added to the 5.00% APY standard yield, that would be 9% total annualized.

Note: It says that the “Referred cannot be an existing or prior Laurel Road member in the last twelve (12) months.”. Therefore, I would do this savings bonus first, and then the checking bonus if you want that one too, as that offer does not includes this language (it only excludes prior Checking account holders).

The full fine print:

Starting at 12:00AM EST on January 30, 2024, through 11:59PM EST on April 30, 2024 (“Campaign Period”), a $50 bonus (the “Bonus”) will be awarded to Laurel Road members (“Referrer”) for each friend who opens a new Laurel Road High Yield Savings (HYS) account (the “Referred”) and meets the following requirements, the Referred must 1) submit the HYS account application through the Referrer’s link during the Campaign Period. 2) have a minimum HYS account balance of at least $1 by 7PM EST within the first twenty (20) calendar days of account opening, and 3) have a minimum balance of $5,000 by 11:59PM EST on the ninetieth (90th) calendar day of account opening for Referrer to earn the Bonus. This offer cannot be combined with any other programs and is not eligible for the standard Refer-A-Friend split. All other Laurel Road Referral Program Rules apply.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Amazon Audible: Free 3-Month Trial w/ 3 Free AudioBooks (New & Returning)

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Amazon Audible has new President’s Day promotion of a free 3-month trial that includes 3 audiobook credits. This offer is usually targeted, but it worked for me even though I have been an Audible trial member multiple times in the past. You will receive 1 audiobook credit each month for 3 months (3 free book credits in total). Audible usually only offers a 1-month free trial, and otherwise costs $14.95/per month for 1 audiobook per month.

My favorite feature of these Audible trials is that once you get a book, it is yours “forever”. You can go back an listen whenever you want, even if you membership is not active. Additional features include the ability to swap out and exchange audiobooks if you don’t like it after listening for a bit, and 30% off the list price of additional audiobooks. You can even have Alexa read your audiobook to you.

Upon completion of your 3-month trial, your subscription will autorenew at the standard rate of $14.95/month (unless cancelled). However, you can cancel online and hassle-free at any time before your trial ends and still receive the full benefits through the end of the trial period. I would do this first thing, and then you can always change your mind and opt back in if you want to keep your subscription.

Over the years, I’ve collected every single Harry Potter audiobook via such offers. I’ve also redeemed previous credits for Shoe Dog (Nike origin story, my review), When Breathe Becomes Air, I Can’t Make This Up: Life Lessons from Kevin Hart, and The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life.

Full fine print:

Offer available until February 21, 2024 at 11:59 PM PT . Offer available only to US consumers who are not existing Audible members.You will receive a 3-month Audible Premium Plus free trial that includes one credit per month as part of the Audible Premium Plus Membership Plan along with unlimited streaming of the Audible Plus Catalog. After 3 months, your membership will continue until cancelled at the then current full price (currently $14.95/mo. + tax) with your designated credit card or another available card on file. Cancel anytime by visiting the Account Details page. Audible reserves the right to modify or cancel the offer at any time. If you violate any of these terms, the offer will be invalid.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.