Buy $100 Apple Gift Card, Get $15 Target Gift Card Free (+ Best Buy Version)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Deal is back. Get a free $15 Target GiftCard with $100 Apple gift card purchase. A simple Black November deal if you plan to buy any Apple products/services in the near future (and shop at Target). While supplies last. Offer available online (e-mail delivery only) and in-store. Stack with the 5% back via Target REDCard. Expires November 26th.

Apple gift cards are now good for everything from Macbooks to iPhones to music to iCloud storage. The code just adds to the balance in your Apple account. (Apple products and their iTunes/iCloud services used to have separate gift cards.)

Similar deal also available at Best Buy: Get a $15 Best Buy e-Gift Card when you buy a $100 Apple Gift Card..

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Chase Sapphire Reserve Card: 60,000 Bonus Points, $300 Annual Travel Credit

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

The “ultra-premium” Chase Sapphire Reserve Card is offering an opening incentive of 60,000 Ultimate Rewards points which can be redeemed for at least $900 of travel when you redeem through Chase Ultimate Rewards, but can also be used in many other ways which can bring even more value. Here is the long list of card perks:

  • 60,000 Bonus Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months. That can be redeemed for $900 of airfare, hotels, and other travel through Chase Ultimate Rewards.
  • $300 Annual Travel Credit . Every year, the card will automatically rebate you back up to $300 in travel purchases such as airfare and hotel nights charged on your card.
  • 5X total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually.
  • 3X points per $1 spent on travel & dining worldwide. The 3X points on travel kick in immediately after earning your $300 travel credit. 1 point per $1 spent on all other purchases.
  • Up to $100 statement credit towards Global Entry, NEXUS, or TSA PreCheck® every four years.
  • Airport lounge access via Priority Pass Select membership. Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select.
  • New: Access to Chase Sapphire Lounges, which are new airport lounges starting at New York’s LaGuardia Airport (LGA), Boston Logan International Airport (BOS), and Hong Kong International Airport (HKG).
  • 1:1 point transfer to leading airline and hotel loyalty programs.
  • Complimentary DashPass + $5 monthly DoorDash Credits from DoorDash through 12/31/2024. 12 months of complimentary DashPass + Get $5 in DoorDash credits each calendar month while enrolled in DashPass through 12/31/2024. Activate by 12/31/2024.
  • Complimentary Instacart+ Membership.: 12 months of complimentary Instacart+ membership, activate by 7/31/2024.
  • NEW: 2 free years of Lyft Pink All Access and a 3rd year at 50% off when you activate by Dec 31, 2024 (a value of $199/year). Membership auto-renews. Details here. Benefits here.
  • Annual fee is $550; $75 for each additional authorized user.

Note the following offer language:

The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.

Ultimate Rewards points. The Chase Sapphire Reserve card offers a special 50% bonus on travel redemptions made through the Ultimate Rewards travel website. Compare that with the 25% bonus on the Chase Sapphire Preferred. 60,000 Ultimate Rewards = $900 in travel. Similar to Expedia or Travelocity, you can book flights on most major airlines and hotel chains. This makes it much more flexible to spend your points. You can even buy something more expensive than what you can afford with solely points and pay the difference in cash.

If you have other Chase cards that earn Ultimate Rewards points like the Freedom, Freedom Unlimited, Ink Business Cash or Ink Business Unlimited, you can transfer points into this card account and take advantage of the this higher premium. In other words, your existing Ultimate Rewards points balance could be increased in value by getting this card.

Possibly even better value via airline and/or hotel points. This card also allows you to transfer Ultimate Rewards points into hotel and/or airline miles. Transfer to United Airlines, British Airways, Air Canada (new), Singapore Airlines, Korean Air, Southwest, Hyatt Hotels, IHG Hotels, and Marriott Hotels at a ratio of 1 Ultimate Rewards point = 1 mile/hotel point. Miles redemption continue to offer great value for savvy travelers, especially for last-minute travel and business class seats.

Personally, my preferred redemption method is Hyatt points, where I can consistently get over 2 cents per points of value for my hotel bookings. Recently, I have also been using my Ultimate Rewards points on the new Air Canada option.

Cash redemptions are a simple and easy option, but the conversion is a straight 100 points = $1.

Sharing points. Ultimate Rewards points are instantly transferable to other accounts like family members, as long as they have their own Chase card with Ultimate Rewards as an authorized user (free with Chase Freedom). This way, you can pool points together for transfers and redemptions if you like.

Additional card benefits:

  • Dedicated customer service line with a live person that answers the phone 24/7. No waiting or complicated phone trees.
  • No foreign transaction fees.
  • Primary car rental collision damage waiver insurance. Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to $75,000 for theft and collision damage for most rental cars in the U.S. and abroad. Most other cards only offer secondary coverage that kicks in only after the deductible of your individual insurance policy is used.
  • Trip Cancellation/Trip Interruption Insurance. If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.
  • Trip Delay Reimbursement. If your common carrier travel is delayed more than 6 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket
  • Enjoy special car rental privileges from National Car Rental, Avis, and Silvercar when you book with your card.

Note that Chase has an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 2 years (aka the 5/24 rule). This rule is designed to discourage folks that apply for high numbers of sign-up bonuses. This rule applies on a per-person basis, so in our household one applies to Chase while the other applies at other card issuers.

As for the $300 annual travel credit, “annually” means the year beginning with your account open date through the first December statement date of that same year, and each 12 billing cycles starting after your December statement date through the following December statement date. So it’s not exactly by calendar year, but roughly close and you can likely get this twice under the first year’s annual fee. When you log into the Chase website, there is a handy tracker that tells you how much of your $300 annual credit has been reimbursed, and how much is remaining.

Bottom line. The Chase Sapphire Reserve Card has a 60,000 Ultimate Rewards points sign-up bonus, 50% boost to all your travel credit redemptions of Ultimate Rewards points, $300 annual travel credit, 3X points on Dining/Travel (more if you use their travel website to book), Priority Pass Select airport lounge membership, up to $100 Global Entry application credit, DoorDash perks, Lyft perks, and more… in exchange for a $550 annual fee. You should compare against that of the Chase Sapphire Preferred card, which has less perks but also a lower annual fee.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

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

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Top 10 Best Credit Card Bonus Offers – December 2022 (Updated)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Updated and checked December 2022. That space in your wallet or purse is valuable, and you should be the one to get that value. By being smart and picky, you can find offers worth $500+ for a single card, all to encourage you to apply and try it out. This adds up to thousands of dollars in extra income (over $5,000 in 2021). These are the top 10 credit card offers that I would personally apply for right now (or have already). Notable recent changes:

  • Added Southwest 75k, Marriott 3FreeNights, Alaska 62k, Venture 75k, JetBlue 80k, IHG 140k+FreeNight, Premier 80k.
  • Removed Sapphire Reserve 80k, United 70k, Delta 70k, Southwest 75k, Citi AA 75k.

This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even higher than those on consumer cards.

Citi Premier Card

  • 80,000 points (worth $800 in gift cards, or transferrable to miles) after $4,000 in purchases in the first 3 months. See link for details.
  • 3X points for every $1 spent on restaurants, supermarkets, gas stations, air travel and hotels.
  • Must not have gotten bonus from or closed a Citi Rewards+, ThankYou Preferred, Premier, or Prestige card in the past 24 months.
  • $95 annual fee.

Chase Aeroplan Credit Card

  • 70,000 bonus Aeroplan points. 70,000 points after $3,000 in purchases within 3 months. See link for details.
  • Free first checked bags on Air Canada flights: one free checked bag for the primary cardmember and up to eight other travelers on the same itinerary.
  • Aeroplan 25K Elite Status benefits for the remainder of the first calendar year, plus the following calendar year.
  • $100 Global Entry or TSA PreCheck credit.
  • $95 annual fee.
  • Subject to 5/24 rule.

Southwest Rapid Rewards Plus Card

  • 75,000 Rapid Rewards points. Earn 75,000 points after $3,000 in purchases in first 3 months. This can be redeemed for over $900 in “Wanna Get Away” airfare with no blackout dates.
  • Southwest still gives everyone two free checked bags.
  • More than halfway to Companion Pass. If you can sign up for this one and also the small business version, you can qualify for a Companion Pass in 2022/2023.
  • $69 annual fee.
  • Subject to 5/24 rule.

JetBlue Plus Card

  • 80,000 bonus TrueBlue points after $1,000 in purchases and paying the $99 annual fee, both within 90 days. See link for details.
  • First checked bag free for the primary cardmember and up to 3 companions when tickets are purchased with your JetBlue Plus Card.
  • $99 annual fee.

Marriott Bonvoy Boundless Card

  • 3 Free Night Awards (each night valued up to 50,000 points) after $3,000 in purchases within the first 3 months. See link for details.
  • Free Night after each account anniversary year (valued up to 35,000 Marriott points).
  • $95 annual fee.
  • Subject to 5/24 rule.

IHG Rewards Club Premier Card

  • 140,000 bonus points + Free Night Award (40k) after $3,000 in purchases within the first 3 months. Free Award Night valued at up to 40k points (or pay the difference above 40k). Limited-time offer. See link for details.
  • Additional Free Night after each account anniversary year (valued up to 40,000 IHG points).
  • Global Entry or TSA PreCheck® fee credit up to $100 every 4 years.
  • $99 annual fee.
  • Subject to 5/24 rule.

Chase Sapphire Preferred Card

  • 60,000 Ultimate Rewards points (worth $750 minimum towards travel and more) after $4,000 in purchases within the first 3 months. See link for details.
  • $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards(R), 3x on dining and 2x on all other travel purchases.
  • $95 annual fee.
  • Subject to 5/24 rule.*
  • Upgrade pick: Chase Sapphire Reserve Card. Higher travel perks including airport lounge access, higher annual fee.

Capital One Venture X Rewards Card

  • 75,000 miles (worth $750 towards travel, or transferrable to miles) after $4,000 in purchases within the first 3 months. See link for details.
  • $300 annual travel credit. Get up to $300 in statement credits when booking through Capital One Travel.
  • Priority Pass airport lounge access. Additional cardholders are free, and also get their own Priority Pass!
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $395 annual fee.

Capital One® Venture® Rewards Card

  • 75,000 miles (worth $500 towards travel, or transferrable to miles) after $4,000 in purchases within the first 3 months. See link for details.
  • 2% cash back on ALL purchases.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

The Platinum Card from American Express

  • 100,000 Membership Rewards points after $6,000 in purchases in the first 6 months. Plus 10X points on eligible purchases at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months. See link for details.
  • $200 Hotel Credits, $240 Streaming Credits, $200 Airline Fee Credits, $200 Uber Cash, $189 CLEAR Credit, $300 Equinox credit, $100 Shop Saks credit and more annually!
  • $100 Global Entry or $85 TSA PreCheck fee credit.
  • Premium airport lounge access through the American Express Global Lounge Collection®.
  • $695 annual fee.

Citi / AAdvantage Platinum Mastercard

  • 60,000 American Airlines miles after $3,000 in purchases in the first 3 months. See link for details.
  • First checked bag free on domestic AA flights ($60 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

U.S. Bank Altitude Connect Visa Signature Card

  • 50,000 bonus points (worth $500 in statement credits) after $2,000 in purchases within 120 days. See link for details.
  • 4X points on travel and gas stations, 2X points on dining and grocery stores.
  • Up to $100 statement credit for Global Entry or TSA PreCheck.
  • $30 annual streaming bonus.
  • $0 annual fee the first year, $95/year thereafter.

Hawaiian Airlines MasterCard

  • 70,000 Hawaiian miles after first purchase (any amount) within the first 90 days. Any 6 digit promo code works. See link for details.
  • Free first checked bag for primary cardmember.
  • One-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

Alaska Airlines Visa Card (Bank of America)

  • 62,000 bonus miles + Companion Fare voucher after $3,000 in purchases within first 90 days. See link for details.
  • Companion fare voucher is “Buy one ticket, get one from $121” ($99 fare plus taxes and fees from just $22).
  • Free checked bag on Alaska flights for you and up to six other passengers on the same reservation (worth $60 roundtrip per person).
  • $75 annual fee.

American Express® Gold Card

  • 60,000 Membership Rewards points after $4,000 in purchases in first 6 months. Limited-time offer. See link for details.
  • $120 in Uber Cash annually (good towards Uber Eats or Uber rides in the US).
  • $120 in annual dining credit at Grubhub, Seamless, and more.
  • 4X points at at restaurants.
  • 4X points at US supermarkets, on up to $25,000 per year.
  • $250 annual fee.

Bank of America Premium Rewards Card

  • 50,000 points (worth $500 towards travel) after $3,000 in purchases within the first 90 days. See link for details.
  • 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
  • $100 annual Airline Incidental Statement Credit.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

If you pay off your balances every month, then you can join me and many others in funding a huge chunk of your annual travel budget with cash credits, points, and miles. I mostly use my rewards points on family trips – domestic economy flights, mid-range hotels, and cheap car rentals. If you have credit card debt, you should focus on paying that off first as the interest charges could offset most of the perks.

* 5/24 Rule? Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 24 months (2 years). This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Top 10 Best Small Business Credit Card Bonus Offers – November 2022

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Updated November 2022. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, Amazon, eBay, Etsy, Airbnb? A small business credit card separates your personal and business expenses and can build up your business credit profile. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. These are the top 10 credit card offers that I would personally apply for right now (or have already). Recent changes:

  • Added Ink Cash 90k, Ink Unlimited 90k, Hilton 130k+FreeNight, Barc AA 80k+$95, Hawaiian 90k, JetBlue 80k+$99, Citi AA 65k.
  • Removed United 150k, Alaska 70k, Marriott 125k, Delta 75k

This is a companion post to my Top 10 Best Credit Card Bonus Offers for personal cards. Notice that small business bonuses are on average even higher than those on consumer cards.

Chase Ink Business Unlimited Card

  • $900 bonus cash back (highest ever) (90,000 Ultimate Rewards points) after $6,000 in purchases in the first 3 months. See link for details.
  • Flat 1.5% cash back on all purchases with no limit.
  • No annual fee.
  • Subject to 5/24 rule.*

Chase Ink Business Cash Card

  • $900 bonus cash back (highest ever) (90,000 Ultimate Rewards points) after $6,000 in purchases in the first 3 months. See link for details.
  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • No annual fee.
  • Subject to 5/24 rule.*

United Explorer Business Card

  • 75,000 bonus United miles after $5,000 in purchases in the first 3 months. See link for details.
  • Free first checked bag for both you and a companion (a savings of up to $140 per roundtrip).
  • Expanded award availability. Having this card makes it easier to redeem for that saver award economy ticket.
  • 5,000-mile “better together” bonus each anniversary when you have both the United(SM) Business Card and personal Chase United credit card.
  • Primary rental car coverage when renting for business purposes.
  • $0 introductory annual fee for the first year, then $99.
  • Subject to 5/24 rule.*

Business Platinum® Card from American Express

  • 120,000 Membership Rewards points after $15,000 on eligible purchases in the first 3 months.
  • HUGE list of additional perks including $400 Dell, $360 Indeed, $150 Adobe, $120 wireless phone annual credits, $200 annual airline fee credit, $189 CLEAR credit, Centurion airport lounge access, and more. See link for details.
  • $695 annual fee.

Chase Ink Business Preferred Card

  • 100,000 Ultimate Rewards points (worth $1,000 straight cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®) after $15,000 in purchases in the first 3 months. See link for details.
  • 3X points on the first $150,000 spent on travel, shipping purchases, internet/cable/phone services, and advertising purchases with social media sites and search engines.
  • Primary rental car coverage when renting for business purposes.
  • $95 annual fee.
  • Subject to 5/24 rule.*

The Hilton Honors American Express Business Card

  • 130,000 Hilton Honors Bonus Points after $5,000 in purchases in first 3 months. Plus a Free Night Reward after you spend $10,000 in purchases in first 6 months. Offer ends 12/21/22. See link for details.
  • Earn another Free Night Reward after you spend $15,000 on purchases in a calendar year.
  • $95 annual fee.

Hawaiian Airlines Business MasterCard

  • Up to 90,000 Hawaiian miles. 50,000 miles after $2,000 in purchases in the first 90 days. +40,000 miles after $8,000 in purchases within the first 12 months. Limited-time offer. See link for details.
  • Receive a one-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

Barclays AAdvantage Aviator Business Card

  • 80,000 American Airlines miles + $95. 80,000 miles and a $95 statement credit after $2,000 on purchases in the first 90 days. See link for details.
  • First checked bag free on domestic AA flights for you and up to 4 companions ($60 value per roundtrip, per person).
  • $95 annual fee.

CitiBusiness / AAdvantage Platinum Select Mastercard

  • 65,000 American Airlines miles after $4,000 in purchases in first the 4 months. See link for details.
  • First checked bag free on domestic AA flights for you and up to 4 companions ($60 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

World of Hyatt Business Card

  • 60,000 Hyatt points after $5,000 in purchases in the first 3 months. See link for details and rough valuation of points.
  • Up to $100 in Hyatt statement credits – spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year.
  • $199 annual fee.
  • Subject to 5/24 rule.

Bank of America Business Advantage Cash Rewards Card

  • $500 statement credit after $5,000 in purchases in the first 90 days. See link for details.
  • 3% cash back on your choice of six categories. 2% cash back on dining and unlimited 1% cash back on all other purchases. The 3% and 2% cash back applies to the first $50,000 in combined category/dining purchases each calendar year, 1% thereafter.
  • No annual fee.

US Bank Business Leverage Card

  • 75,000 bonus points after $7,500 in purchases (on the Account Owner’s Card only) in first the 4 months. 75,000 bonus points can be redeemed for $750 in cash back. See link for details.
  • Availability may be restricted to certain states.
  • $0 annual fee for the first year, then $95.

Capital One Spark Cash Plus Business Card

  • Up to $1,000 cash bonus. $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. See link for details.
  • Unlimited 2% cash back on all purchases with no limit.
  • $150 annual fee.

Capital One® Spark® Miles for Business Card

  • 50,000 miles (worth a $500 statement credit) after $4,500 in purchases in the first 3 months. See link for details.
  • Flat 2X points per dollar spent on all purchases with no limit.
  • $0 annual fee for the first year, then $95.

Alaska Airlines Visa Business Card (Bank of America)

  • 40,000 Alaska miles + Companion Fare Voucher after $2,000 in purchase within 90 days. See link for details.
  • Companion fare voucher is “Buy one ticket, get one for $121” ($99 fare plus taxes and fees from just $22).
  • Free checked bag on Alaska flights for you and up to six other passengers on the same reservation (worth $60 roundtrip per person).
  • $50 annual fee for company, plus $25 per card.

* Note: Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards on your credit report within the past 2 years. This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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 Prime: Link Venmo, Get $10 Credit (Targeted)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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 – November 2022 Update

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

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

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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 17.74% – 27.74%, 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.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Ally Bank New Deposit Promo: Up to $500 Cash Bonus (Expired, But New CD Opportunity)

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Update November 2022: Ally has raised the rates on their CDs and savings accounts, but notably the 11-month No Penalty CD is now at 3.10% APY, which isn’t amazing, but if you are already committed to this deposit bonus, it is a way to raise your effective interest rate while both still qualifying for the deposit bonus and maintaining liquidity. Note the terms state “Your new money must remain in an eligible Ally Bank account: Online Savings, Money Market or a CD.”

Original post (offer is now expired):

Ally Bank has a new “Get Paid” cash deposit bonus (link for existing customers) that is offering a 1% cash bonus (up to $500) on new deposits on top of their existing interest rate. Valid for both new and existing customers. Given the holding period, this roughly equates to the same total interest paid as a 3-month bank CD at 6.25%+ APY. Thanks to reader Paul for the heads up. Here’s how it works:

  • Open an account and/or enroll by 10/21/2022. You must enroll or you won’t get the bonus. New customers use the promo code GETPAID. Existing customers must enroll with the same e-mail as linked to their Ally bank account.
  • Fund your account by 10/31/2022. This means your account has to be approved, opened and funded by this date. Move at least $1,000 from another financial institution to a new or existing eligible Ally Bank account. Remember, transfers can take up to 3 business days.
  • Keep money in your account through 1/15/2023. Your new money must remain in your eligible Ally Bank account through 1/15/2023. Keep in mind, any withdrawals made during this time may reduce your bonus.
  • Get your cash bonus on or by 2/15/2023. Get a 1% bonus on the money you moved, up to $500.

Ally had a similar bonus in 2018 and 2020. Note the following extra details:

  • Cash bonus applies to new money added to an eligible Ally Bank account, not your total balance.
  • Your new money must remain in an eligible Ally Bank account: Online Savings, Money Market or a CD.
  • Minimum cash bonus is $10 ($1,000 deposit), maximum is $500 ($50,000 deposit).

Here’s an example:

1. Take your 10/11 end of day balance total across all eligible accounts. Ex. $5,000.
2. Take your 10/31 end of day balance total across all eligible accounts. Ex. $15,000.
3. Your max possible bonus is 1% of $10,000 = $100. If your total balance across all eligible balance ever goes below 15,000, then your bonus goes down as well. Let’s say your total balances from 10/31 onward through 1/15 varies from $12,000 to $18,000. Your bonus will only be 1% of $7,000 = $70.

Rough math. The current rate on the Ally Online Savings account is 2.25% APY (variable, likely to rise again soon, but who knows what the future holds) as of 10/12/22. Given that you can an additional 1% bonus in roughly 3 months, the bonus itself works out to the equivalent of a 4% annualized yield. 2.25% + 4% = 6.25% total annualized yield over 3 months (no guarantee, this is just an example estimate). You could also open a CD to lock in an even higher rate.

Should I move money out of Ally and back in to qualify? No, it won’t make any difference as Ally has already thought of that. Basically, your comparison point is your balance as of the end of day on 10/11/22. From the full terms and conditions:

We base your Cash Bonus calculation on the New Money you deposit into an eligible Online Savings account, Money Market account, or CD at Ally Bank between 10/12/2022 and 10/31/2022 (and then keep in your account through 1/15/2023). This means money you move out of Ally Bank and then back in won’t qualify for the bonus, and any withdrawals you make from an Online Savings account, Money Market account, or CD between 10/12/2022 and 1/15/2023 may reduce your bonus amount. Transfers of funds between existing Ally Bank accounts won’t qualify for the bonus. Remember, check deposits and transfers from other financial institutions can take a few or more days to complete, so make sure to start any transactions well enough before the 10/31/2022 deadline for those transactions to clear by or before 10/31/2022.

We’re all about playing fair, so if we believe you’re trying to game or abuse this offer, you won’t be allowed to participate in this offer or any future offers.

Existing customers. As a longtime Ally accountholder, I’m happy again to see that this offer includes existing customers, even if it has to be new money.

Bottom line. Ally Bank has a new promotion to attract new money (or bring back old money). You get a 1% cash bonus (up to $500) on new deposits on top of their existing interest rates. At the current rates for their savings account, this works out to a 3-month holding period paying roughly 6.25% annualized interest. You must enroll soon by 10/21/22 and your account must be opened and fully funded by 10/31/22 at the very latest.

Looks like I will be scraping up all the idle cash from my various accounts in the hopes of maximizing this bonus.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

HMBradley Bank Review: 4.00% APY w/ New Requirements, New Partner Bank, New Intro Offer

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Update November 2022: As of 11/3/22, HM Bradley has raised the interest rates on their tiers as follows. The top rate is now 4.00% APY.

Update October 2022: HM Bradley announced several significant changes to their product (again). I’ve updated the review completely and removed all the historical changes as it was just getting too long.

HM Bradley (HMB) is a fintech software layer on top of a partner bank’s infrastructure. They are terminating their initial relationship with Hatch Bank at the end of October 2022 and changing completely over to New York Community Bank (NYCB). Existing HMB customers will need to open up a new account at NYCB before the end of October. HMB is also changing up their interest rate structure, but is offering a special intro offer to existing HMB customers. Detailed review below.

Rate tiers. Interest is earned on balances up to $250,000 with NYCB (up from $100,000 with Hatch Bank) and the rate you earn is set for the next month based on the current month’s activities. Here are the current rate tier and requirements:

  • 1.00% APY. All customers who open an HMBradley Deposit Account with NYCB will be rewarded with 1.00% APY. No other requirements.
  • 2.00% APY. Customers who make a direct deposit of at least $500 per month to their HMBradley Deposit Account with NYCB and maintain positive monthly cash flow (meaning that monthly deposits exceed monthly withdrawals, not including HMBradley Credit Card payments) will earn 2.00% APY in the following month.
  • 3.00% APY. Customers who fulfill the 2.00% APY requirements AND also spend $500 per month on their HMBradley Credit Card will earn 3.00% APY in the following month.

Limited-time offer to switch for existing customers. HM Bradley is waiving some of the requirements for new customers that signed up to switch by 10/31/22:

Any customer who opens an HMBradley Deposit Account with New York Community Bank (NYCB) before November 1, 2022, will receive Level 2 Annual Percentage Yield (APY) until April 30, 2023.

Any customer who opens an HMBradley Deposit Account with NYCB and has an HMBradley Credit Card in good standing before November 1, 2022 will receive Level 3 APY on the balance of the HMBradley Deposit Account with NYCB until April 30, 2023.

You’ll have to start doing the requirements in April to get the higher rates in May 2023.

Requires a “real” direct deposit every month. You must receive some sort of direct deposit each month, as defined below:

For our accounts, we define direct deposits as those deposits made by the customer’s employer, a federal or state government agency, or retirement benefits administrator. These generally include payments made by corporations and other organizations. We do not consider deposits to an account that are made by an individual using online banking or other payment provider such as PayPal or Venmo as direct deposits. HMBradley shall make the final determination as to whether a deposit qualifies as a direct deposit for purposes of qualifying to earn interest.

Based on my experience, they do have a system for filtering incoming deposits, but it is not 100% accurate and your direct deposit may have to be reviewed manually. Their online account interface should clearly indicate whether you have made the required direct deposit for the current month. I had to contact them in order for them to manually check and mark the transfer as a direct deposit. Having it marked properly is required to get the top rate.

Positive monthly cash flow is based on ALL deposits and withdrawals (except HMB credit card spend). For the calculation of “positive monthly cash flow”, all deposits are considered including incoming transfers from another personal bank account. At the same time, your “spending” will also include any transfer out of your account, even if it’s just to another bank account that you own. They don’t count purchases made on your HMB credit card, which incentivizes you to use it – but conveniently they don’t care about your credit card spending habits as long as you’re using their card…

Basically, money has to keep coming into HMBradley and not go back out on a net basis every month. That’s a very unique requirement, but also hard to keep up forever. Even if you are a diligent saver, you will want to redirect some of those funds into other assets like stocks, ETFs, real estate, etc.

Credit card details. The HMBradley credit card is invite-only and partially based on their estimate of your income (which is in turn based on the size of your deposits, although you can attempt to self-report). Invitations are not guaranteed. You must opt in to their “One Click Credit” service which basically checks your TransUnion credit report so they can market stuff to you (soft inquiries). If your TransUnion credit file is frozen, they will not offer you an invite. But once you officially apply, you will have a hard inquiry.

Starting at the October 2022 monthly billing cycles, the HM Bradley credit card is basically a flat 1.5% cash back credit card with no annual fee. Prior to this, it used to be a more complicated 3/2/1% rewards card with tiered categories and a $60 annual fee (waived for first year). 2% cash back would have been nice, but now it’s just another vanilla mediocre rewards card.

Additional features. It’s still not exactly clear how other basic features will change with the new NYCB accounts. ATM rebate policy? Well, right now, they don’t even give you a debit card! This change seems a bit rushed.

Once you accept the new NYCB deposit account agreement and disclosures, we will ask you to agree to allow us to transfer your funds (including any funds in a Plan and accrued interest) from your deposit account at Hatch Bank to your new deposit account with New York Community Bank (NYCB). We will also provide you with your new account and bank routing numbers. You will want to use this information to change your direct deposit and recurring ACH transfers as soon as you can.

Unfortunately, we are unable to offer debit cards for new deposit accounts at this time. You will still be able to make ACH transfers, and we will let you know when a new debit card is available.

My thoughts. Interest rate changes are happening very quickly these days, and it is unknown how aggressively HM Bradley will keep up. If I didn’t already have an HMB account, I wouldn’t bother opening one up with the current hoops required. As it is, I do already have an HMB account and the credit card. I’ll take the no-hassle 3% APY for now, but I will be looking for them to raise their rates at least a bit more above the competition if I am going to keep jumping through that many hoops.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Walmart+ Annual Membership 50% Off ($49) from Nov. 1-3 Only

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Walmart has an pre-Black Friday offer of 50% off an annual Walmart+ membership (a $49 savings). Valid only for two days, November 1st through 3rd only. Here are their current pre-Black Friday deals. (press release)

Walmart+ membership gets you the following perks:

  • Early access to all online Black Friday deals 7 hours early.
  • Free Paramount+ streaming subscription. Regular price is $4.99 per month.
  • Free same-day delivery of cold Groceries & more from your local Walmart ($35 minimum purchase). No markup from in-store prices! Where available.
  • Free next-day and 2-day shipping from Walmart.com (no minimum purchase). Excludes most Marketplace items, location & freight surcharges.
  • Scan & Go in-store. Use the Walmart app to scan barcodes as you shop in-store and skip the cashier line.
  • Save 10 cents per gallon on fuel at 14,000+ locations nationwide including Exxon, Mobil, Walmart & Murphy stations. You also get member prices at Sam’s Club fuel centers.

That same-day grocery delivery sounds nice, I would try it if it was available in my area.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.

Reader Question: Credit Card Bonuses, Paying Annual Fees, and FICO Scores

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

Here’s a reader question via email that comes up pretty regularly, and I’m surprised that I don’t have a dedicated post answering it. So here it is! 😁

Hi Jonathan,

I have been following you for a long time and appreciate your work. One question, for the credit cards that have an annual fee do keep them and pay the fee or do you cancel them before the fee is applied? I wa just approved for the citi premier card.

For most new credit cards with big bonuses, if the annual fee is not waived for the first year, it will be charged immediately on your first billing cycle. So with the Citi Premier card, you should see a $95 charge in your first monthly statement. You can’t avoid it if you want the sign-up bonus. Of course, the good news is that the sign-up offer is worth over $800. Now, after 12 months, another annual fee will be charged. What then?

I view credit card bonuses as a paid trial. The credit card issuer wants to make me their customer, in the hopes of making profits (transaction fees, interest, fees, etc) by providing me a service. As a consumer, I am lazy and don’t really want to go through the hassle of applying for a new credit card. I certainly wouldn’t do it for free. Therefore, the credit card issuer must offer an incentive. What do I owe the credit card issuer? I agree to give them a chance to earn my business by testing out the features for a full year.

Is it ever worth it? Yes, there are several credit cards that I have kept for at least another year and paid the annual fee because they earned my business. I felt the annual fee was worth it. As my professional and travel habits changed, some cards were dropped and others were added. Here are a few past and present examples:

Don’t think it’s worth it? Other times, it’s not worth it or circumstances change. Again, I usually wait a full year until the next annual fee is charged onto my statement. Then, I call them up and either ask to cancel or tell them directly the annual fee is too high and I don’t want to pay it.

  • They might directly offer to waive the annual fee for another year.
  • They might offer some sort of mini-hurdle like spend $1,000 on the card in 60 days and they will credit back the annual fee.
  • They might offer to downgrade to another card version with no annual fee.
  • They might offer you nothing and cancel your card on the spot.

If they close the account, that’s fine. I gave them a shot. End of agreement.

Still worried? The issue underlying this question is usually this: Doesn’t closing a credit card hurt my credit score?

For me, the answer is no, at least not enough for me to notice. For others, the answer is a bit more complicated. This post is old but still valid – How Opening and Closing Credit Card Accounts Affects Your Credit Score.

Here’s the short version: Closing a credit card will affect the following two factors in your credit score: Credit utilization ratio (percent of total available credit used as debt) and average age of accounts. So if the credit card in question has a credit limit of $10,000 and your only other credit card is brand new with a $500 limit, then closing it will likely lower your score quite noticeably. If you have multiple credit cards with a few years of history, pay off your balance each month, and don’t close the oldest credit card, then the effect will be much smaller.

If you think about it, you need to open up multiple credit cards over time in order to eventually build up a durable credit utilization ratio and average age of accounts. Otherwise, you’ll always be one forced/arbitrary account closure away from a credit score drop. Over time, I have multiple accounts that are decades old and no new credit card is ever more than 10% of my total available credit, so I don’t worry at all about closing a card that I don’t want anymore. If you are brand-new to credit, then you may wish to tread more lightly and find some quality no-annual-fee cards to open and keep to build up your credit profile.

Photo by Avery Evans, Unsplash

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. 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.