Andrews FCU $200 PayBack Checking Promo

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.

Andrews Federal Credit Union has a $200 PayBack Checking offer with qualifying direct deposits to a new checking account. Offer expires 5/31/23. Here is the breakdown of the bonus:

  • $75 credit within one business day of the opening of the account.
  • $125 credit after $500+ in qualifying direct deposits within 60 days of the Payback checking account opening date.
  • Receive $0.10 for every debit card transaction ($5 or more) during the first 90 days your account is open.
  • No minimum balance required to obtain the bonus or to open the Payback Checking account.

More bonus fine print:

Members with an existing personal checking account with Andrews Federal (either as a primary or joint account holder) are not eligible. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify. The $125 credit will be made to the new Payback checking account within 90 days of all requirements being met. Your new Payback checking account must still be open and in good standing when we seek to credit the bonus, otherwise the bonus is forfeited. Only one bonus will be awarded per member regardless of the number of accounts opened. Bonus offers are not transferable and are reportable for tax purposes. A $25 early account closing fee applies if the account is closed within 60 days of opening.

Here are details about the PayBack Checking account:

  • $10 monthly fee will be waived if you receive at least $500 in total direct deposits within a calendar month to this account.
  • No minimum balance.
  • Must be enrolled in Digital Banking and/or Mobile App.

Credit union membership eligibility. From their page on membership eligibility:

Our field of membership includes Washington, DC, civilian and military personnel of Joint Base Andrews, Joint Base McGuire-Dix-Lakehurst, and military installations in central Germany, Belgium, and The Netherlands; as well as over 200 employer groups throughout Maryland, Virginia and New Jersey. We also have nationwide membership eligibility through the American Consumer Council.

As I do not live the in DC area and do not qualify otherwise, I joined the American Consumer Council (ACC), a non-profit organization dedicated to consumer education, advocacy and financial literacy. Sounds like something worth supporting! You can join through the website. I believe the cost is a one-time $8, although there is a promo code “consumer” that has worked in the past to get the membership fee waived. They will send you an e-mail shortly with your ACC membership number, which you can use to join Andrews FCU.

Note: Applying for an account may result in a hard credit inquiry. At least for me, they checked my TransUnion credit report.

Bottom line. This is a relatively straightforward checking bonus. Membership is open to anyone nationwide via American Consumer Council. I am already a member of Andrews FCU based on a previous certificate deal (never open a checking account unless you have to), and I have been satisfied with their service. I got the $75 credit immediately after opening, and expect it go smoothly after my direct deposit. Their current certificates rates are relatively competitive but nothing currently exceptional. You may want to check out their car loans or mortgage rates if in the market.

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 Stock Up & Save Promo: 20% Off $50+ of Amazon Brand Everyday Items

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 running a 20% Off Stock Up & Save Promo for Amazon Prime members that spend at least $50 on Amazon-branded everyday essential items like Presto paper towels, Amazon Basics paper towels, Amazon Basics disinfectant wipes, Presto toilet paper, Solimo K-cup coffee pods, Amazon Basic Care ibuprofen, Amazon Basics resealable freezer bags and sandwich bags, and Happy Belly cereal bars. Lots of food and snacks.

Just add the items to your cart and you should see the discount show up automatically at check out. Look up anything from any of the private labels owned by Amazon including Amazon Basics, Happy Belly, Mama Bear, Presto, Solimo, Wickedly Prime, and Wonder Bound in the eligible categories of Health & Beauty, Grocery, Pet Products, Office Products, and Pet Products. There are over 1,000 items that are eligible. The maximum discount is $100, so you can get 20% off up to $500 of stuff.

If you have the Amazon credit card, you can also stack savings as all Amazon Basics items are also eligible for 10% cash back right now, higher than the standard 5% cash back. So that’s up to 30% off total on a lot of things as many things (non-food) got switched back to the Amazon Basics brand recently.

(RSS and e-mail readers: Due to Amazon’s affiliate rules, you must view this post on the website to view the direct links to Amazon.)

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.

CBC Federal Credit Union 5-Year CD at 5.00% APY (up to 5.25% APY)

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: This offer is no longer available, but the credit union was very customer-friendly and did honor their rate for those that opened the account during the period when the offer was displayed on their website. You just had to call them up and ask. They are a small credit union with limited resources, and I commend them for acting honorably and in a friendly manner. The rate has now dropped, and they no longer open CDs over the phone; you must open in-branch. )

CBC Federal Credit Union is a small credit union that is offering some top certificate rates as of 4/12/23. NCUA-insured. Here are the rate highlights:

  • 5-year certificate at 5.00% APY ($500 minimum).
  • 5-year certificate with Epic Premium Checking account: 5.25% APY ($500 minimum).
  • Early withdrawal penalty for 5-year certificate is 365 days of dividends (will eat into principal if needed).
  • The rates on their 1-year, 2-year, 3-year, and 4-year certificates are also competitive, with and without the Epic Premium Checking Account.

Their Epic Premium Checking Account offers various perks including a discount on loan interest and also a boost of 0.25% to 0.50% on certain Term Share Certificate Rates. However, it does charge an $8/month fee that cannot be waived. If you close the Epic Premium checking account or it becomes inactive, then you lose the rate boost AND the interest rate on your CD might drop to the current rate. Whether the extra rate boost is worth the monthly fee and maintaining activity on the checking account depends on the amount deposited and your own preferences.

Unknown if there is a credit pull with a new membership application. This is common with credit unions, but I did not see anything come up on my credit monitoring alerts after my application. Must keep $5 minimum in Share Savings account as long as you are a credit union member. Hat tip to DepositAccounts.

Membership eligibility. Although in Southern California with only four physical branches, their eligibility criteria is actually open to anyone nationwide. You can:

  • Live, work, worship, or go to school in Ventura County
  • Participate in programs to alleviate poverty or distress in Ventura County
  • Participate in associations, businesses, or other legal entities headquartered or located in Ventura County
  • Maintain a facility located in the Ventura County
  • Have a family member that is an existing CBC member
  • Importantly… one of the eligible associations is the American Consumer Council, which you can join as part of the sign-up process and CBC FCU will cover the membership fee.

My thoughts. I wasn’t sure if I should post about this, as the last time I posted a CD deal from a smaller credit union, the rate dropped in only two days. These small credit unions usually offer up these high APYs when they have specific funding needs and then they will drop the rate once that dollar amount has been met. However, the purpose of this blog is to share what I am up to, and this is an example of a motivated individual being able to access a much better interest rate than even a billionaire hedge fund manager.

For comparison, as of 4/11/23, the 5-year Treasury bond rate is 3.54%. For retirees and semi-retirees with large cash/bond balances, this is a meaningful rate difference. I don’t know where rates will go in the future, but I like to build a ladder and this is one of the best rates for my “5-year rung” in a while.

If you wish to get in on this rate, you should act quickly and temper your expectations. It’s a good enough deal that it is quite possible that there will be enough new applications to overwhelm their limited staff. You might go through the application process, possibly take a credit pull hit, and have the rate fall before you can fund the certificate. I’m not saying this will happen, but it is possible. Of course, it is also possible that this is only the start of multiple places offering long-term 5% APY CDs.

In terms of best practices, I would recommend taking extra care when applying online and uploading a very clear picture of your photo ID. You want to avoid any hiccups that would require human intervention. If you do have to call, be polite and patient. Once you get your Share Savings account number, use it to transfer funds over online within a few days. (Some people choose to wire funds as that is instant.) Then you must call up CBC FCU and open up the certificate over the phone as an existing member with funds ready to go.

Based on their website, they appear to be using the same backend software as many other credit unions.

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.

Discover Bank Deposit Bonus: $150/$200 ($15,000/$25,000 Required)

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.

disc_osaBonus still available in 2023. Discover Bank has an ongoing deposit bonus for new customers for their online savings account. If you open a new account through this link (currently shows promo code SAVE323W2 with expiration date 5/31/23) or this link (currently shows promo code GOBP223 with expiration date 6/15/23), you can receive one of the following bonuses:

  • Deposit at least $15,000 within 30 days of opening to earn a $150 bonus, or
  • Deposit at least $25,000 within 30 days of opening to earn a $200 bonus.

This offer has been available off and on for over 5 years and is always only for first-time Discover Savings account customers, but if you haven’t grabbed it yet it’s a solid bonus.

*To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code GOBP223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.

The Discover Online Savings Account has a current interest rate of 3.60% APY as of 4/11/23, which is sort of a competitive rate although not the highest available. There are no minimum balance requirements and no monthly fees. Interest is compounded daily and paid monthly.

If you deposit the minimum amount of $15k, the $150 bonus is effectively another 1% of your initial deposit. The $200 bonus on $25,000 deposited is a lower percentage, but if you have the extra cash then it may still be a good rate. There is no fixed minimum time period where you have to keep the money there after getting the bonus, so your effective ROI can be quite high since the bonus should post shortly after you complete the required deposits. Keep in mind that you must still have an open account for the bonus to post.

I did not experience a hard credit pull when opening my Discover bank account on a previous bonus. Historically, their rates are competitive but not the rate leaders. Their overall feature set is not exceptional (average speed transfers), so it is not my primary savings account at this time. Maybe it is convenient if your primary card is the Discover It credit card?

Bottom line. The Discover Savings account is a simple, barebones piggy-back savings account with no minimum balance and no monthly fees. The rates are historically competitive but rarely the highest. With no monthly fees, this is a solid low-risk bonus if you have the funds available and have never had a Discover bank account before.

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.

Capital One 360 Performance Savings Deposit Bonus (Up to $1,000, Spring 2023)

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.

Note: Some readers have reported in the past that they were not able to apply the promo code even as new customers, and Capital One responded that this was a targeted promotion even though there is no such language on the offer page nor in the terms and conditions. I would make sure that the promo code “FALL22” was accepted before moving forward with this promo.

Promo is back:

Capital One has brought back a deposit promotion worth up to $1,000 for new 360 Performance Savings accountholders. Note the following:

If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary or secondary account holder with Capital One on or after January 1, 2020, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.

Here are the details:

Open a 360 Performance Savings account between 12:00 a.m. ET on March 22, 2023, and 11:59 p.m. ET on May 10, 2023. When you open your account, ensure the promo code SPRING23 is entered in the Promo Code box.

  • Open a new 360 Performance Savings account with promo code SPRING23 by 5/10/2023.
  • Make a deposit of $10,000+ of external funds within 15 days of opening. Hold the money in your account for an additional 90 days past the initial 15-day period.
  • $10,000+ deposited = $100 bonus.
  • $50,000+ deposited = $500 bonus.
  • $100,000+ deposited = $1,000 bonus.
  • Capital One will deposit the bonus into your account within 60 days following the 90-day period. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus.
  • You’ll also earn their normal interest rate (currently 3.50% APY as of 4/10/23). No monthly fees or minimum balance requirements.

Note that the 90-day “maintain balance” period is after and in addition to the end of the 15-day “initial funding period”. So if you are counting from the opening day, that is a total of 105 days after opening. This is important as other readers have gotten denied for the bonus when withdrawing after only 100 days. You may wish to chat with Capital One to confirm the exact date.

In terms of APY, you are getting 1% of your deposit with a minimum holding period of 105 days (could be shorter if you funded at last moment). Let’s call it 120 days to be safe. This works out to the equivalent of (a little more than) a 3% annualized yield. If you assume the current 3.50% APY holds, that would be an estimated 3.5% + 3% = 6.5% annualized yield for those 120 days.

Not a bad deposit bonus on top of a currently competitive base interest rate, if you qualify of course. Again this one is only for new customers or those that have closed their previous CapOne360 accounts by January 1, 2020.

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.

HealthyWage Review: Bet on Yourself, Get Paid To Lose Weight ($100 Limited-Time Prize Boost)

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.

(Limited-time Promo: Click this special link for extra $100 added to your prize through 4/17. They offer up big boosts only a few times per year. Look for the banner on top. Read on for how HealthyWage helped motivate me to lose 50 pounds – yes, really.)

hw_logoAfter reading academic studies which found that financial incentives were effective in helping people lose weight, I joined HealthyWage.com. You tell them how much weight you want to lose, your current body details, how much time you want, and and they’ll calculate what prize to offer you based on how much you want to bet on yourself. Since I eventually lost 50 pounds with the help of HealthyWage and other weight-loss betting sites (and have kept it off since), and I wanted to share my experiences including both positive and negative aspects. Importantly, you can do everything from home!

My overall HealthyWage bet was to lose 10% of my body weight over 9 months (22 pounds in my case). My offered bet was to put up $50 per month for 9 months for a potential win of $500. You may like the sound of “winning $500”, but know that a lot of it will be your own money:

healthywage500

Honestly, risking $450 to win $50 didn’t feel like a very good risk/reward ratio, but I wanted the extra motivation. Perhaps my goal was too easy and that was why the payout wasn’t as high. You can put up your own numbers and calculate your own HealthyWage offer. Your payout may be much better than mine. The quote is free, you just need to provide any e-mail address.

If I joined during a limited-time offer prize boost, I could have earned a lot more money:

Initial weigh-in verification. There are four ways to verify your weight:

  1. Smartphone app. There is a HealthyWage app for iOS and Android. You take a clip using the app and your personal scale. Importantly, everything can be done from home!
  2. Video Verification. Upload a video to their website using your personal scale.
  3. Verification by a Fitness or Health Professional – Bring a form to your “local gym, pharmacies, corporate wellness clinics, walk-in clinics, HR reps, nurses, your personal doctor, your personal trainer or your chiropractor.”
  4. Verification at a Weight Watchers Meeting.

I followed their directions carefully, uploaded my video, and both my initial and final videos were accepted with no issues or additional requests.

Every month, I would see a $50 charge on my credit card bill from HealthWage. However, that was about it. There were no encouraging e-mails. No virtual meetups or prize giveaways. I was fine with this, but if you like group encouragement or peer pressure, you’ll need to find it elsewhere.

Upon initial sign-up, I was given my 2-week window for final weigh-in. HealthyWage’s two-week window is definitely more generous than DietBet’s 48-hour window, with the important difference that I was never sent any reminders by HealthyWage when the time actually came. In comparison, DietBet sent me multiple reminders beforehand. Now, I had the date marked on my digital calendar with several alerts, so I completed my weigh-in by the second day of the window. It is quite possible that if I waited until closer to the final deadline, I would have gotten a reminder. But I wouldn’t rely on it. Remember, if you forget, they keep your money!

I also did a DietBet at the same time, which is similar but different in that it collects participants into groups and then takes a cut from the pooled bets. See my separate DietBet Review. You can consider doing both as well.

Extra final verification hoops. Upon final weight verification, you’ll have to submit another verification video that includes of your weight scale. Again, you can just do it through their HealthyWage app. I also had to upload a scan of my driver’s license. Here’s a link with final weigh-in details. Note the following:

As part of our review, we occasionally request that some (very few) participants submit an additional weigh-out video. If an additional weigh-out video is required, HealthyWage will contact you with instructions. Optionally, you could also keep on hand a set of full-body before-and-after photos, and have your teammates do the same. You do not need to submit the photo(s) to HealthyWage.

The fact is that if you really lose 10 lbs or more of your body weight, you will look noticeably different to human eyes! That is why they need the video. Looking at my before and after photos was a shock even to me.

Finally, I successfully referred a few people to Healthwage and received extra money added my “pot”. This referral program is nice feature to get some social support, but remember that you get the referral money only if you win your own bet.

Final payout options. There are two options to receive your winnings. A mailed check takes 3-4 weeks to process, with no fee. The other “fast” option is PayPal, which charges a 3% fee. I picked the PayPal option because I didn’t want to wait around for a check. However, they later clarified that it would still take 3-5 business days for PayPal transfer. The 3% fee is taken out by PayPal, so HealthyWage actually sends the full amount (they just choose not to subsidize the fee). In retrospect, maybe I should have just waited for the check. Here’s a screenshot:

hw_finalpay

Bottom line. I committed to a Healthywage bet to lose 10% of my initial weight over 9 months. I lost the weight, completed my verifications without hassle, won the bet, and was paid my winnings. Although I found the process a bit impersonal, they are a legit company. Calculate your own HealthyWage offer here. No obligation to get a quote. However, the fact that HealthyWage motivated me to finally lose over 50 pounds was worth way more to me than the cash winnings. I’ve kept it off in the years since as well, so it literally changed my life and quite possibly made it longer.

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.

M1 Finance Review: Free Custom Robo-Advisor: 5.00% APY w/ M1 Plus, Up to $15,000 ACAT Transfer Bonus

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.

New 5.00% APY savings account w/ M1 Plus membership, new deposit and ACAT promos. I’ve tried out my share of robo-advisors, which sounded nice in theory but I became a little disillusioned as they kept generating lot of unnecessary taxes every time they change their model portfolios to chase the latest and hottest trends. My favorite option is where I can pick my own custom target portfolio, but the robo still does the hard work: M1 Finance. Here’s a quick rundown of what makes them different:

  • Fully customizable. You pick your own target asset allocation “pie”. (You can add ETFs or individual stocks.) You can simply copy one of the many model portfolios out there, or make your own custom pie as you like. You have full control! M1 handles the tedious stuff, like rebalancing or dividing a $100 contribution across 8 different ETFs.
  • No commissions. Free stock/ETF trades with a low $100 minimum for taxable accounts and a $500 minimum for retirement accounts.
  • 0.00% management fee! Most robo-advisors charge an annual management fee of 0.25% to 0.50% of assets, or force you to own something bad, like artificially low-interest cash. (Looking at you, Schwab…)
  • Free dynamic rebalancing. All new deposits (and withdrawals) will be invested (or sold) dynamically to bring your portfolio back toward your target asset allocation. M1 will also rebalance your entire portfolio back to the target allocation for you automatically (for free) whenever you chose, on demand. You don’t need to do any math or maintain any spreadsheets.
  • Fractional shares (dollar-based). For example, you can just set it to automatically invest $100 a month, and your full amount will be spread across multiple ETFs. Dollar-based transactions were one of the advantages of buying a mutual fund, but fractional shares solve this problem. ETFs are also usually more tax-efficient than mutual funds.
  • Real brokerage account with off-the-shelf investments that you can move out. Some robo-advisors hold special, proprietary funds that you have to sell if you ever leave, possibly creating a big tax bill. (Looking at you, Fidelity…) M1 is built on a regular brokerage account, so you can move your Vanguard/iShares/Schwab ETFs and stock shares out to another broker whenever you want.

M1 Finance investment minimums:

A minimum account balance of $100 is necessary to get started on M1. Once the $100 account minimum has been reached, deposits can be any amount above $10. Retirement accounts require an initial investment of $500.

M1 Finance checks off nearly all the boxes of my brokerage wish list. They do all the managing for me, but according to MY rules. I don’t like it when robo-advisors keep changing their portfolios to match up with whatever is trendy (private equity, crypto, etc). But since I can choose the exact ETFs that they purchase, if I decide to stop their service down the line, I just end up with a brokerage account filled with ETFs that I can easily move elsewhere. I suppose the only thing they could add would be to have the high availability of knowledgeable customer service of a huge company like Fidelity or Schwab. Otherwise, I really like their feature set and I have been putting my recent annual IRA contributions into M1.

If you want to invest in newer factor ETFs like those from DFA and Avantis, their service makes it much easier to set up a portfolio with lots of ETFs.

How does M1 make money? They have a variety of income streams:

1) Interest on idle cash (can be minimized as you can auto-invest all idle cash in the investment account)
2) M1 Borrow (you take out a loan, they charge interest)
3) M1 Checking (debit card generates fees for them)
4) Payment for order flow (same as Robinhood and TD Ameritrade)
5) M1 Plus (subscription fee that gets you higher interest rates and other additional perks).
6) M1 Credit Card (transaction fees and interest)

M1 Plus. They have been aggressively adding features and pushing their premium M1 Plus membership, which costs $10/month or $95/ year after an initial 3 month free trial. Essentially, it makes everything a little bit better, including access to their new high-yield savings account.

  • Access to high-yield savings (currently 5.00% APY as of 5/27/23). FDIC-insured up to $5 million.
  • Access to M1 credit card (2.5%, 5%, or 10% cash back at 70+ brands, no annual fee).
  • Lower rates on margin borrowing (1.5% discount).
  • Custodial accounts for kids.
  • Extra PM trade window.
  • Automated “smart” transfers.

Up to $500 New User deposit bonus. Deposit $10,000 or more within two weeks of opening your new M1 Brokerage Account and get a cash bonus of $75 – $500 deposited to that account. See deposit bonus promotion link for full details.

Up to $15,000 ACAT Transfer bonus. You can get up to $15,000 to invest when you
transfer a brokerage account to M1 by June 17, 2023. See ACAT transer promotion link for full details.

Bottom line. M1 Finance is a brokerage account that acts like a free, customizable robo-advisor with automatic rebalancing into a target portfolio. You control the model portfolio, and they do the tedious work. Great for implementation of a low-cost, index or passive ETF portfolio. I deposited part of my Roth IRA contribution with them.

Disclosure: I am now an affiliate of M1 Finance, and may be compensated if you click through my link and open a new account.

Also see: Big List of Free Stocks For New Commission-Free Brokerage Apps

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.

Laurel Road Loyalty Checking Bonus $200 + $20/Month ($440 First Year Total)

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.

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 when you are young, and then expands as you grow older and need new services. They have special products targeted at doctors and nurses including student loan refinances, personal loans, mortgages, bank accounts, and other products like a credit card that earns 2% cashback towards student loans.

The Laurel Road Loyalty Checking Account is available to the general public and has a few interesting features:

  • $200 welcome bonus when you open a Laurel Road Loyalty Checking account by 06/30/2023 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening.
  • $20 cash reward for every month you make qualifying ACH direct deposits of $2,500+ each statement period during the first 12 months ($240 total), and $10 for every month after that – for as long as your account is open.
  • No minimum to open. No minimum balance. No monthly fees.

Here is the fine print on the $20 monthly bonus:

Primary account holder is eligible to earn monthly rewards of $20/month from the second through thirteenth statement periods, which is considered your “first year.” From the fourteenth statement period onward, the eligible reward will be $10/month for as long as the Laurel Road Loyalty Checking account (“Account”) is open. To earn monthly rewards, you must make qualifying Automated Clearing House (ACH) direct deposits into the Account totaling at least $2,500 during the statement period. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Rewards will be deposited into your Account in the statement period after they are earned. Only one Loyalty Checking account per primary account holder. Cannot be combined with other checking bonus, reward, or rate discount offers, excluding any promotional offer for opening the Account. The value of the monthly rewards will be reported to the IRS on Form 1099-INT. Accounts closed within first 180 days will be charged a $25 early closure fee. Accounts closed at the time of monthly rewards payment are not eligible. Offer is subject to change without notice.

I appreciate the simple bonus structure, and KeyBank has been flexible on what counts as a direct deposit in the past. Note that this checking account pays essentially zero interest (0.01% APY as of 4/5/23), but you don’t have to keep your $2,500+ direct deposit there after it arrives in your checking account. You can spend it as needed or move it into savings elsewhere. Laurel Road themselves also offer a High Yield Savings account that pays 3.50% APY (as of 4/5/23) that also has no monthly fees or minimum balance, so easy enough to at least move it there for a bit.

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.

Chime Fintech App Review: $100 Simple Bonus

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.

Simple $100 bonus. Chime is a popular fintech app with a simple $100 cash bonus (up from $50) after a single direct deposit of $200+ within the first 45 days of new account opening. To get this offer, you must be referred by an existing user. Here is a Chime $100 referral link. Here is a screenshot of my bonus (when it was only $50) appearing nine minutes after my initial deposit:

Here is the fine print:

In order for the referring Chime member (“Referrer”) to qualify and receive the $100.00 referral reward and $10.00 temporary SpotMe Bonus Limit increase, and for the referred person (“Referred”) to qualify and receive the $100.00 referral reward, all of the following conditions must be satisfied: (1) Referrer meets SpotMe eligibility requirements and is part of the SpotMe Referral Incentive referral reward campaign; (2) Referred has not previously opened a Chime Checking Account (“Account”); (3) Referred opened a new Account between January 1, 2022 and December 31, 2022; (4) Referred opened the new Account using the Referrer’s unique referral link; (5) Referred received in the new Account a Qualifying Direct Deposit within 45 calendar days of opening the Account; and 6) Referred activated their physical Chime Visa Debit Card within 14 days of receiving a Qualifying Direct Deposit. A Qualifying Direct Deposit is a deposit of $200.00 or more by Automated Clearing House (“ACH”) that comes from your employer, payroll provider, gig economy payer, or benefits payer OR a deposit by Original Credit Transaction (OCT) from your gig economy payer. Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be legitimate are not Qualifying Direct Deposits.

Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

Why is Chime so popular? Chime is the second-most popular online-only bank in the US (only behind Ally) with over 13 million customers and a recent valuation of $25 billion as of September 2021. I learned that Chime is very attractive to those who are “unbanked” or underbanked”, those people who don’t like traditional banks due to their monthly fees and $35-a-pop overdraft charges. Instead, Chime offers:

  • No monthly fees. No minimum balance. No minimum opening deposit.
  • No credit check. No Chexsystems check.
  • Access to paycheck 2 days early. If you usually get paid on Friday, you can spend the money on Wednesday.
  • No overdraft fees, and they may even “spot” you up to $100 until you pay them back.
  • Free ATM withdrawals at 38,000+ MoneyPass and Visa Plus Alliance ATMs.
  • No foreign transaction fees.

For many folks that have a lot of activity but maintain a low balance, this fee structure is better getting 4% APY or even 10% APY. The key is avoiding those crazy overdraft charges from the big banks and also the various $2 fees hidden inside many prepaid cards. Chime’s only major fee is a $2.50 fee if you make a cash withdrawal at an out-of-network ATM. Chime earns revenue via interchange fees when you buy things on your debit card.

As I opened an account, I noticed that Chime treats you like have never had a checking account before. The sign-up is easily done completely on your phone in a few minutes. You don’t need to deposit a single cent to open. They send basic “Chime 101” emails explaining the effect of bank holidays and how to set up direct deposit.

There is no credit check, so you can have bad credit and even a bad Chexsystems record (meaning you probably left another bank with a negative balance). Nearly every major bank uses Chexsystems to screen new customers. Otherwise, they are referred to as a “second chance” bank account. Chime might have the lowest fees of all such “second chance” banks.

Savings account at 2.00% APY. Once you open the main Chime checking account, you can also open a separate savings account. No minimum balance and no monthly fees on the savings account, either.

Chime has the most of other bank stuff as well. Debit card. Paper check deposit via mobile app. FDIC-insured via partner banks, either Stride Bank or The Bancorp Bank. The only major thing missing besides bank branches is that they don’t provide paper checks. Depositing cash is available, but the third-party physical stores may charge a fee.

In terms of working with my other accounts, I am able to deposit and withdraw fund via Ally Bank push/pull. Your routing number and account number is available openly in the app under “Move Money > Direct Deposit”. My routing number is 103100195, which ABA.com confirms as Stride Bank, NA. based in Enid, Oklahoma.

Bottom line. Chime is an interesting bank startup that targets the underbanked and unbanked by offering a much better fee structure to those with access to direct deposit. No overdraft fees, no credit checks, no Chexsystems. Currently, there is a $100 bonus available via referral link.

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 – April 2023

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 April 2023, 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 could earn. Rates listed are available to everyone nationwide. Rates checked as of 4/5/2023.

TL;DR: 5% APY available on liquid savings, with some wrinkles. 5% APY available on multiple short-term CDs. Compare against Treasury bills and bonds at every maturity. 6.89% Savings I Bonds can be bought with 2023 annual limits now.

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.

  • 4.85% APY ($1 minimum). SaveBetter 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 4.85%. This fintech makes it easier for you to maintain a top rate even if one bank decides to drop out of the “rate race”. 😉 SaveBetter does not charge a fee to switch between banks.
  • 5% 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 4/5/23, the highest rate is from BrioDirect (Webster Bank) at 5.06% 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. 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.
  • 5% on up to $25,000, then 4% up to $250k. Juno now pays 5% on all cash deposits up to $25,000 and 4% on cash deposits from $25,001 up to $250,000. No direct deposits required. This fintech has crypto exposure, please see my Juno review for details.
  • 4.00% APY on $6,000. Current offers 4% APY on up to $6,000 total ($2,000 each on three savings pods). Must maintain a direct deposit of $200+ every 35 days. $50 referral bonus for new members with $200+ direct deposit with promo code JONATHAP228. Please see my Current app review for details.

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. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • The leapfrogging to be the temporary “top” rate continues. UFB Direct at 5.02% APY, although note their incoming ACH hold times. CIT Platinum Savings at 4.75% APY with $5,000+ balance.
  • SoFi Bank is now up to 4.00% APY + up to $275 new account bonus with direct deposit. You must maintain a direct deposit of any amount each month for the higher APY. SoFi has their own bank charter now so no longer a fintech by my definition. See details at $25 + $250 SoFi Money new account and deposit bonus.
  • There are several other established high-yield savings accounts at 3.75%+ APY that aren’t the absolute top rate, but historically do keep it relatively competitive for those that don’t want to keep switching banks.

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

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. CIT Bank has a 11-month No Penalty CD at 4.80% APY with a $1,000 minimum deposit. Ally Bank has a 11-month No Penalty CD at 4.35% APY for all balance tiers. Marcus has a 13-month No Penalty CD at 3.85% APY with a $500 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
  • Marcus has a special 10-month CD at 5.05% APY with a $500 minimum deposit. Early withdrawal penalty is 90 days of interest.
  • BrioDirect has a 12-month certificate at 5.25% APY. $500 minimum. Early withdrawal penalty is 90 days of interest.
  • Western Alliance Bank via SaveBetter has a 12-month certificate at 5.01% APY. $1 minimum. Early withdrawal penalty is 270 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 losses.

  • Vanguard Federal Money Market Fund is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 4.77%. Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • Vanguard Ultra-Short-Term Bond Fund currently pays 4.72% SEC yield ($3,000 min) and 4.82% 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 5.00% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 4.98% 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 4/5/23, a new 4-week T-Bill had the equivalent of 4.61% annualized interest and a 52-week T-Bill had the equivalent of 4.53% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 4.60% SEC yield and effective duration of 0.10 years. SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 4.52% 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.

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.

  • Genisys Credit Union pays 5.25% APY on up to $7,500 if you make 10 debit card purchases of $5+ each, and opt into receive only online statements. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Pelican State Credit Union pays 5.11% APY on up to $10,000 if you make 15 debit card purchases, opt into receive only 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 partner organization membership.
  • The Bank of Denver pays 5.00% 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.
  • All America/Redneck Bank pays 4.80% APY on up to $15,000 if you make 10 debit card purchases each monthly cycle with online statements.
  • Presidential Bank pays 4.625% APY on balances between $500 and up to $25,000 (3.625% APY above that) if you maintain a $500+ direct deposit and at least 7 electronic withdrawals per month (ATM, POS, ACH and Billpay counts).
  • Find a locally-restricted rewards checking account at DepositAccounts.

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

  • Credit Human has 24-month to 35-month CDs at 5.50% APY. $500 minimum to open. The early withdrawal penalty is 365 days of interest. Anyone can join this credit union via partner organization (no fee).
  • Sallie Mae Bank via SaveBetter has a 27-month CD at 5.15% APY. $1 minimum. Early withdrawal penalty is 180 days of simple interest.
  • Lafayette Federal Credit Union has a 5-year certificate at 4.68% APY ($500 min), 4-year at 4.73% APY, 3-year at 4.84% APY, 2-year at 4.89% APY, and 1-year at 4.99% APY. They also have jumbo certificates with $100,000 minimums at even higher rates. The early withdrawal penalty for the 5-year is very high at 600 days of interest. Anyone can join this credit union via partner organization ($10 one-time fee).
  • 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 4.40% APY (callable: no, call protection: yes). 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 (none available, non-callable) vs. 3.67% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.
  • How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate, currently 2.10% for EE bonds issued November 1, 2022 to April 30, 2023. As of 4/5/23, the 20-year Treasury Bond rate was 3.72%.

All rates were checked as of 4/5/2023.

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.

Buy $100 Apple Gift Card, Get $10 Target Gift Card Free

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, expires 4/8. Get a $10 Target GiftCard with $100 Apple Gift Card purchase. A simple deal if you plan to buy any Apple products/services in the future (and shop at Target). While supplies last. Offer available online and in-store, so you may be able to get multiples. Stack with the 5% back via Target REDCard. Expires April 8th.

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.)

Best Buy is also offering 10% off a $200 Instacart gift card ($20 savings).

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 IHG Rewards Club Traveler Card Review: 80,000 Bonus Points Offer, No Annual Fee

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.

Limited-time offer. The Chase IHG Rewards Club Traveler card is the IHG hotel card that includes special IHG perks but with no annual fee. Here are the highlights:

  • 80,000 bonus points after spending $2,000 on purchases within the first three months of account opening
  • Earn 15X points total per $1 spent when you stay at IHG Hotels & Resorts.
  • Earn 2X points at gas stations, grocery stores, and restaurants and 1 point per $1 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 not available to either (i) current cardmembers of any IHG® Rewards credit card, or (ii) previous cardmembers of any IHG® Rewards credit card who received a new cardmember bonus for this credit card within the last 24 months. This does not apply to cardmembers of the IHG® Rewards Premier Business credit card.

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 120,000 IHG points worth an estimated $600 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.

Total of 15x 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, for a total of 15X 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.

  • 2 IHG points per $1 spent at gas stations, grocery stores, and restaurants.
  • 1 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 Chase IHG Rewards Club 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 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.