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Navy Federal Credit Union $25 New Membership Promotion

by MM Team @ Banking Bonuses – Maximizing Money

Navy Federal Credit Union is offering a $25 new membership promotion for simply starting a new membership and opening a new membership savings account with a $5 minimum balance. [Read More] Navy Federal Credit Union $25 New Membership Promotion

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Self Lender Review: Is It Good?

by feedback@creditdonkey.com (Kim P) @ CreditDonkey

Self Lender promises to help you build credit. But is it legit? Read this review to learn how it works.

If you don't have a credit history, creditors probably won't give you a chance. How can you build credit without someone giving you a break?

Enter Self Lender - a credit monitoring and credit building system that helps people with low or damaged credit increase their credit score.

Read on to see if Self Lender might be the right service for you.

What Is Self Lender?

Self Lender is a free credit monitoring system. But they also offer credit building loans. This is where they make their money.

Self Lender's credit monitoring service gives you on-demand access to your credit score. It gives you access to your credit history at all times. Self Lender also offers suggestions on how to improve your credit. They provide all of this free of cost.

However, the credit building loan is the real meat and potatoes of Self Lender. They provide loans regardless of your credit score. The main purpose of the loan is to build or improve a low credit score. In other words, they give you a chance no matter how many other lenders turned you down.

How Self Lender Works

The Self Lender loan isn't your typical loan. Think of it like a loan in reverse. You don't receive the proceeds from the loan upfront. Instead, it's placed in a Certificate of Deposit for you. The maturity date equals the term of the loan.

You then make payments over the course of the term of the loan (12 to 24 months). Your payments are both principal and interest. At the end of the term, the CD matures. You receive the principal, plus the small amount of interest it gained during that time.

As you make payments, Self Lender reports them to Experian, Equifax, and TransUnion. If you make your payments on time, this will help build up your credit score.

Some people think of it like a forced savings program. In order to receive the savings, you have to make timely loan payments. At the end of the term, you will receive the principal amount paid for the loan.

Who Benefits from Self Lender?

Self Lender is ideal for people who have little to no credit. If you've ever tried to apply for credit only to be turned down because you don't have any credit, you are a good candidate. How are you supposed to prove you are credit worthy if no one will extend credit?

This is where Self Lender helps the most. They don't pull your credit to determine eligibility.

It can also be a good option for those with damaged credit. With a poor credit history, many creditors will turn you down for new credit. Without new credit, it's nearly impossible to rectify your score. Self Lender can help by providing you with the credit building loan.

Before you jump on board though, make sure you meet the following requirements:

  • You are at least 18-years old
  • You have a valid bank account
  • You can afford the monthly payments that vary between $25 - $194 per month
  • You could benefit from a forced-savings account

Opening an Account and What It Costs

Opening a Self Lender account takes about five minutes. They need the following information:

  • Name
  • Address
  • Social Security number
  • Date of birth
  • Amount of income

Once you provide this information, Self Lender runs a check on ChexSystems. Similar to running your credit, this system checks your bank account history. This keeps an eye on how you treat your bank accounts. They look for overdrafts and bad checks. However, unless you let your overdrafts sit unpaid, you should be in good shape.

If your ChexSystems report comes back clean, Self Lender will ask you which loan amount you want from a predetermined list of options:

  • $525 ($25 paid over 24 months)
  • $545 ($48 paid over 12 months)
  • $1,000 ($89 monthly payment over 12 months)
  • $2,200 ($194 monthly payment over 12 months)

You then enter your payment information. You can use a checking account or debit card. However, using a debit card will cost you an additional 2.99% plus $0.30 as a convenience fee. Using your checking account is best.

Self Lender also charges a small administrative fee based on your loan amount. It varies between $9 and $15. The fee is non-refundable, but is a one-time fee.

How the Credit Builder Loan Helps

The moment you take out the Credit Builder Loan, you have a FDIC-insured Certificate of Deposit opened in your name. Like any other CD, you cannot touch the money until it reaches maturity. In this case, it's 12 or 24 months.

The bank deposits the full amount in the CD, allowing it to earn 0.10% interest over the next 12-24 months. While the interest is really peanuts, the real benefit lies in the payments you make towards the loan.

As long as you make each loan payment on time, Self Lender reports the timely payments to the credit bureaus. According to Self Lender, on average clients with the standard $1,100 loan and timely payments see their credit score increase as much as 45 points in just 6 months.

This only works, however, if all aspects of your credit are in line. For example, if you have a credit card with another company that you let default, your credit score will fall. This is independent of what the Credit Builder loan can do for you. It's up to you how you handle all aspects of your credit profile.

Tip: It's best if you do not pay the Credit Builder Loan early. The main benefit is the timely payments reported to the credit bureau. If you pay it off early, you negate the benefits of the loan. Plus, you cannot touch the CD until maturity or you risk paying a penalty.

Pros and Cons of Self Lender

As with any financial product, there are pros and cons of Self Lender.

Pros

  • All payments are reported to the credit bureau to help you build a credit profile.
  • You have a "forced" savings account.
  • You don't need a credit check to get approved.
  • The upfront administrative fee is affordable.
  • The interest rate is often less than that of a credit card.
  • An installment loan may diversify your credit mix, which further helps your credit score.

Cons

  • If you have a negative history with bank accounts, you may not qualify.
  • Late payments are reported to the credit bureaus and could damage your credit.
  • It costs you 5% per monthly payment if you miss the grace period of 15 days.
  • The interest earned on the CD is next to nothing.
  • You have to pay to take out the loan versus other free ways to build credit.

How It Compares to Other Options to Build Credit

Self Lender isn't the only way consumers with thin or damaged credit can build credit.

  • Secured credit card: This option isn't free upfront, but it can be if handled correctly. Your credit line equals your deposit. You can find secured credit cards that require as little as $200 deposited. If you pay the balance off each month, you don't pay any interest. You can also get your deposit back if you upgrade or close your account.

  • Co-signer on a loan: If you have a willing co-signer for a loan, you may be able to get approved for a standard credit card or installment loan.

  • Authorized user: Ask to become an authorized user on a parent, sibling, or other close relative's credit card. Make sure you ask the credit card company beforehand if they report payment history for authorized users, though.

Bottom Line

If you've exhausted all other "free" options to build credit, Self Lender can be helpful. If you don't have anyone who can co-sign a loan or make you an authorized user, you have two options: a secured credit card or Self Lender. If you don't have the money to open a secured credit card, Self Lender may offer the lower cost way to build your credit.

Make sure before you take this option that you can afford the monthly payments. Paying for a loan that you will only pay late will damage your credit score and cost you money. When taken responsibly, though, the service can help you improve your score in a short amount of time.

Self Lender Review: Is It Good? appeared first on CreditDonkey

Bank of the West $150 New Checking Account Bonus

by MM Team @ Banking Bonuses – Maximizing Money

Bank of the West is offering $150 in bonus cash when you open a new personal checking account online or in-branch, set up a direct deposit of at least $250, and make 10 debit card purchases per month for 2 months.

This Bank of the West promotion is available to residents of Arizona, California, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming[Read More] Bank of the West $150 New Checking Account Bonus

The post Bank of the West $150 New Checking Account Bonus appeared first on Maximizing Money.

BBVA Compass Bank Deals, Bonuses, & Promotions: $50, $100, & $200 Checking & Savings Offers

by Danny Nguyen @ Bank Deal Guy

Find the latest BBVA Compass Bank Deals, Bonuses, & Promotions here at BankDealGuy! BBVA Compass Bank is available physically in a few states but available for residents in 48 contiguous states! Check out excellent checking, money market, savings, certificate of deposit accounts, and more! See below for our list of BBVA Compass Bank Deals. BBVA Compass Bank has numerous... Read More →

The post BBVA Compass Bank Deals, Bonuses, & Promotions: $50, $100, & $200 Checking & Savings Offers appeared first on Bank Deal Guy.

Quorum Federal Credit Union CD Account Review: 2.00% APY 11-Month, 2.25% APY 25-Month CD Rates Increased (Nationwide)

by Howard Young @ Bank Checking Savings

Now is the best time of the year to start a new account experience. With that said, Quorum Federal Credit Union is offering residents nationwide a wide selection of rates to fit all your banking needs. Whether you are looking for a short term or long term solution, there is definitely an account to fit... Keep Reading↠

The post Quorum Federal Credit Union CD Account Review: 2.00% APY 11-Month, 2.25% APY 25-Month CD Rates Increased (Nationwide) appeared first on Bank Checking Savings.

Chase Savings Coupon Code

by Anthony Nguyen @ Bank Deal Guy

The Chase SavingsSM Account is made simple. With this account, you can start saving with ease! You’ll have access to chase.com and our mobile banking tools. Plus, 24-hour customer support is just a phone call away. See table below for more info regarding the Chase SavingsSM Account Coupon. For more offerings from Chase, be sure to... Read More →

The post Chase Savings Coupon Code appeared first on Bank Deal Guy.

Special Low Rate on Used Cars This Holiday Season!

by @ YNB | The Bank That Makes Things Happen

It's never been a better time to get into a new used or preowned car! We have special financing for a limited time at a special low rate of 2.99% APR!

The post Special Low Rate on Used Cars This Holiday Season! appeared first on YNB | The Bank That Makes Things Happen.

7 of the Best Places to Open an IRA in 2018

by Kevin Mercadante @ Consumerism Commentary

Opening an IRA is an important decision. To help, here is our survey of the best IRA accounts for 2018, including fees and features of each option. Just about every bank, investment brokerage, and robo-advisor welcomes Individual Retirement Accounts (IRAs). But there are a handful of institutions that stand out above the rest. Below are […]

The post 7 of the Best Places to Open an IRA in 2018 appeared first on Consumerism Commentary.

The 8 Best Bank Promotions (Checking and Savings) in 2018

The 8 Best Bank Promotions (Checking and Savings) in 2018


The Dough Roller

Looking for the best checking accounts or savings accounts? These bank promotions can get you cash back when you open a new account and a top APR.

PNC

PNC


PNC

We can help you gain the confidence you need to make important financial decisions for you, your family or your business.

Ally Invest Review

by Kevin Mercadante @ Consumerism Commentary

Ally Invest offers is a low cost and very easy to use online broker. Formerly TradeKing, we cover all of its features and costs in this review. You’ve probably heard about Ally Bank. They’re perhaps the best-known online bank, offering some of the highest interest rates available on savings accounts and certificates of deposit. As […]

The post Ally Invest Review appeared first on Consumerism Commentary.

How to Enroll in Chase Online Bill Pay

by Anthony Nguyen @ Bank Checking Savings

Got a busy schedule and need to pay your bills on time? Chase Online Bill Pay allows you to bank on your own schedule. Save time and money by taking care of any recurring bills without the hassle of writing or check or paying for postage. Essentially, this Chase feature allows you to automatically set... Keep Reading↠

The post How to Enroll in Chase Online Bill Pay appeared first on Bank Checking Savings.

Chase United MileagePlus Explorer Review: 50,000 Bonus Miles + $100 Statement Credit

by Anthony Nguyen @ Bank Checking Savings

When you sign up for a United MileagePlus® Explorer Card you can earn yourself a attractive 50,000 bonus miles after you spend $3,000 on purchases in the first 3 months of account activation. Also, you can earn $100 statement credit after you make your first purchase. In addition to that, get priority boarding and 2 redeemable United Club passes each year, so I... Keep Reading↠

The post Chase United MileagePlus Explorer Review: 50,000 Bonus Miles + $100 Statement Credit appeared first on Bank Checking Savings.

Byline Bank to acquire First Bank & Trust

by Moira Dolehide @ Byline Bank

Read Evanston Now’s full story by Bill Smith here.

The post Byline Bank to acquire First Bank & Trust appeared first on Byline Bank.

IRAs Are a Great Option for the New Year

by @ YNB | The Bank That Makes Things Happen

Certain contributions to Individual Retirement Accounts before April 15th are tax-deductible and can save you on your tax bill

The post IRAs Are a Great Option for the New Year appeared first on YNB | The Bank That Makes Things Happen.

A Review of the SFGI Direct Savings Account

by Michael Pruser @ Consumerism Commentary

In our SFGI Direct savings account review, we were frankly surprised at the high rates offered by this bank many have never heard of. It beats almost all existing online banks. Here are the details. If you haven’t considered an online savings account before, here’s why you should now. Below we review the SFGI Direct […]

The post A Review of the SFGI Direct Savings Account appeared first on Consumerism Commentary.

SmartFinancial Reports Break-Even Net Income for the Fourth Quarter after Deferred Tax Asset Charge

by Kelley Fowler @ SmartBank

Performance Highlights Record high total assets of $1.7 billion, net loans of $1.3 billion, and...

The post SmartFinancial Reports Break-Even Net Income for the Fourth Quarter after Deferred Tax Asset Charge appeared first on SmartBank.

Bank Deals, Bonuses, Promotions, & Offers - February 2018

Bank Deals, Bonuses, Promotions, & Offers - February 2018


Bank Checking Savings

Here are the best national bank deals, bonuses, promotions, and offers. You'll find the best banking perks with no fees, free checking, big cash offers. You'll find the best national bank promotions from both big and small banks both checking and savings accounts such as Chase Bank, Citibank, Bank of America, PNC Bank, Santander Bank, HSBC, Capital One, U.S Bank, Wells Fargo, and many more.

United MileagePlus Explorer Card 50,000 Bonus Miles + $100 Statement Credit + 5,000 Bonus Miles When You Add an Authorized User + 2X Miles on United Airlines

by Anthony Nguyen @ Bank Deal Guy

When you open a United MileagePlus Explorer Card, you will earn 50,000 bonus points after you spend $3,000 on purchases in the first 3 months from account opening. Plus, as a travel benefit, you’ll receive 2 United Club passes each year for your cardmember anniversary – over a $100 value. To top it all off, you can get a... Read More →

The post United MileagePlus Explorer Card 50,000 Bonus Miles + $100 Statement Credit + 5,000 Bonus Miles When You Add an Authorized User + 2X Miles on United Airlines appeared first on Bank Deal Guy.

Legacy Texas $200 Checking Bonus [TX] (Current Clients Only)

by Danny Nguyen @ Bank Deal Guy

Existing LegacyTexas clients now have the opportunity to earn a $200 checking bonus when you open a new Maximum Checking Account and meeting certain requirements. Below is all the information and details you need to earn your Legacy Texas $200 Checking Bonus! Legacy Texas $200 Checking Bonus Summary To earn your Legacy Texas $200 Checking Bonus, simply open... Read More →

The post Legacy Texas $200 Checking Bonus [TX] (Current Clients Only) appeared first on Bank Deal Guy.

Your Perfect Checking Account is Waiting

by @ YNB | The Bank That Makes Things Happen

Take charge of your finances like never before with a personal checking account from YNB! We offer a variety of accounts with great benefits so you can get the most out of your money and enjoy a more meaningful banking relationship. Best Checking – Our most popular checking. Robust features and unlimited check writing! Blue Ribbon […]

The post Your Perfect Checking Account is Waiting appeared first on YNB | The Bank That Makes Things Happen.

Get Free Money With These 5 Bank Promotions

Get Free Money With These 5 Bank Promotions


The Balance

Bank promotions that will get you hundreds of dollars of free money by opening new bank accounts such as savings and checking accounts.

Gift Card Fees Waived This Holiday Season!

by @ YNB | The Bank That Makes Things Happen

Customers and non-customers can take advantage of paying no fee when purchasing YNB VISA Gift Cards during November and December.

The post Gift Card Fees Waived This Holiday Season! appeared first on YNB | The Bank That Makes Things Happen.

SunTrust Bank Business Checking Account $200 Bonus Offer

by MM Team @ Banking Bonuses – Maximizing Money

SunTrust Bank will give you $200 in bonus cash when you open a new SunTrust Business Checking account and make $1,500 in qualifying deposits within 30 days, available for businesses in Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia. [Read More] SunTrust Bank Business Checking Account $200 Bonus Offer

The post SunTrust Bank Business Checking Account $200 Bonus Offer appeared first on Maximizing Money.

Terry Saban

by Smart Bank @ SmartBank

Terry Saban is the Co-founder and CEO of the Nick’s Kids Foundation, a 501 ©...

The post Terry Saban appeared first on SmartBank.

Northern Paper Mills CU $100 Checking Account Cash Bonus – Wisconsin

by MM Team @ Banking Bonuses – Maximizing Money

If you live or work in Brown County, Wisconsin, or work for Georgia Pacific Corporation in Green Bay, Wisconsin, you can earn a $100 bonus for opening a new personal checking account with Northern Paper Mills Credit Union. [Read More] Northern Paper Mills CU $100 Checking Account Cash Bonus – Wisconsin

The post Northern Paper Mills CU $100 Checking Account Cash Bonus – Wisconsin appeared first on Maximizing Money.

Huntington Bank Coupons: $150, $200, $300, $500, & $750 Deals, Offers, & Promotions

by Danny Nguyen @ Bank Deal Guy

Huntington Bank Coupons, Coupon Codes, Promo Codes, Bonuses, Deals, Offers, and Promotions for their Checking, Savings and Business accounts can all be found here. Huntington Bank Coupon & Bonus Promotions are constantly updated throughout the year, so bookmark this page or check back on our Huntington Bank Deals, Offers, Bonuses, and Promotions master post for updates. Check out... Read More →

The post Huntington Bank Coupons: $150, $200, $300, $500, & $750 Deals, Offers, & Promotions appeared first on Bank Deal Guy.

Huntington Bank $300 Business Checking Bonus [IN, KY, MI, OH, PA, WV, IL, WI]

by Danny Nguyen @ Bank Deal Guy

If you’re interested in banking at Huntington, you can earn a Huntington Bank $300 Business Checking Bonus when you open their Fast Track Business Checking Account currently available in Ohio, Michigan, Indiana, Pennsylvania, Kentucky, West Virginia, Illinois, and Wisconsin. Get the right business checking account, whether you’re starting out or starting to expand. Huntington has checking options to meet your needs,... Read More →

The post Huntington Bank $300 Business Checking Bonus [IN, KY, MI, OH, PA, WV, IL, WI] appeared first on Bank Deal Guy.

British Airways Visa Signature Card 75,000 Avios Bonus + 3 Avios for Every $1 Spent on British Airways Purchases

by Anthony Nguyen @ Bank Deal Guy

Compare this card with other travel related cards here. The British Airways Visa Signature® Card is offering a chance to earn up to 75,000 bonus Avios. Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months of account opening. Plus, earn an additional 25,000 bonus Avios after you spend $10,000 on purchases within your first year of account... Read More →

The post British Airways Visa Signature Card 75,000 Avios Bonus + 3 Avios for Every $1 Spent on British Airways Purchases appeared first on Bank Deal Guy.

Best Bank Bonuses in Florida

by Anthony Nguyen @ Bank Checking Savings

Editor’s Note: If this is not your state, you can click on the state(s) above to see the Best Bank Bonuses being offered in your selected state(s). As the Floridians say,”Visit Florida” for some of the Best Bank Bonuses in Florida! Before you head out to Walt Disney World, grab some awesome bank deals for some extra spending... Keep Reading↠

The post Best Bank Bonuses in Florida appeared first on Bank Checking Savings.

LifeLock Review: Is It Worth It?

by feedback@creditdonkey.com (Kim P) @ CreditDonkey

Protecting yourself against identity theft seems like it's worth its weight in gold. Do you really get as much protection as you think with services like LifeLock? Find out below.

Last year more than 143 million people had their personal information exposed during the Equifax hack. This demonstrates just one of the thousands of security breaches that happen each year. LifeLock claims to protect your identity from these types of incidents beyond what a basic credit freeze offers.

LifeLock claims to monitor more than just your credit. They monitor the dark web, unauthorized address changes, online scams, and public records. The depth of the monitoring you get depends on the chosen plan. LifeLock also offers identity theft restoration services and 24-hour customer service.

With a LifeLock membership, you can monitor one driver's license number and Social Security number. But you can monitor up to 10 credit cards and/or bank accounts. You may also enter up to five home addresses, email addresses, and phone numbers.

Who Is LifeLock Best For?

  • If you are at high risk for identity theft: Consumers who aren't proactive in their attempts to protect identity theft may benefit from the service. While LifeLock can't prevent identity theft, it can alert members of a breach. Think of it like an alarm system. The crime has been committed, but now you can attempt to minimize the damages.

  • If you don't know how to recover from identity theft: Identity theft is overwhelming. Victims must take several steps to stop the perpetrator from doing more damage. There could also be damages that must be undone, such as unauthorized accounts opened in their name or fraudulent use of medical insurance/benefits. LifeLock's bread and butter is their restoration services, helping victims put their lives back together.

  • If you don't regularly check your credit and/or financial accounts: Checking your credit reports, monitoring bank statements, and watching your credit card accounts is time-consuming. If you aren't vigilant about watching these accounts, LifeLock may give you a little peace of mind knowing you may receive an alert if something is amiss.

Why We Like LifeLock

  • Learn of a breach early: There's no foolproof way to prevent identity theft or fraud. What LifeLock offers, though, is quick notification of certain adverse actions on your accounts. This gives you the chance to try to minimize the damages before they get out of hand.

  • Restoration services help repair the damage: After you experience identity theft or fraudulent account activity, LifeLock's agents offer their services in fixing the problem. They may not be able to fix everything, but having their expertise on your side may help.

  • Reimbursement for loss funds: Each of LifeLock's plans offer coverage, similar to an insurance policy for lost or stolen funds. However, their reimbursement is subject to many restrictions, especially if another insurance policy or financial institution will cover the loss.

  • User-friendly platform and app: Members can access the LifeLock member portal on their PC, laptop, or mobile device. In the platform, members have access to their account information as well as all alerts, whether critical or non-critical. Members can view the alerts at their leisure and determine what/if anything they must do.

  • Multiple alert options: LifeLock offers several alert options to make sure you are aware of a potential situation. They offer alerts via phone, email, and text. You can also customize the alerts you receive, changing thresholds for various accounts based on your needs.

  • 24/7 customer service 365 days a year: LifeLock representatives are available for questions and concerns 24/7 every day of the year. However, any restoration services are only available during business hours.

  • Lost Wallet Protection: Losing your purse or wallet may put you at risk for identity theft and/or credit card fraud. LifeLock offers assistance in handling the tasks necessary to stop anyone from using the lost information. They include this service in all 3 plans.

  • Scans a trillion data points regularly: LifeLock claims to scan a trillion data points daily. The exact data points they scan will determine how well it protects you. However, it's likely more than you would scan yourself, and even a small bit of protection may help.

  • Monitors accounts rather than freezes them: A credit freeze prevents thieves from accessing your credit information moving forward. If you were already hacked, though, the criminals have what they need. Monitoring may help alert you of any new activity even after you freeze your credit.

Why You Might Look Elsewhere

  • Only one credit bureau monitored with the first two plans: You have to pony up and pay for the most expensive plan to get monitoring of all three credit bureaus. Since not all companies report to all three bureaus, you may not have the protection you need.

  • Limited coverage guarantee: Despite their million dollar coverage guarantee, there are many limitations. If your identity is stolen or accounts hacked into, it must be due to some failure or defect on LifeLock's behalf for the guarantee to take effect. If LifeLock did what they promised and you still got hacked, the guarantee may not apply.

  • No family plan: If you want to protect more than one family member, such as a spouse or child, you have to pay for separate plans. This could get costly depending on how many family members you want to protect.

Plans

All plans include the following:

  • Dark web monitoring
  • LifeLock Privacy Monitor
  • Notification of unauthorized address changes
  • Lost Wallet Protection
  • Alerts for Social Security number breaches

In addition to the basic features, LifeLock has three tiers to choose from:

  • LifeLock Standard: As the cheapest plan available, this plan monitors one credit bureau and provides up to $25,000 reimbursement for stolen funds.

  • LifeLock Advantage: The mid-plan still only monitors one credit bureau, but they also provide the credit score from that bureau. It also offers bank account and credit card monitoring and notifications of data breaches. LifeLock will also provide crime reports for your area and report on any fictitious identity issues.

  • LifeLock Ultimate Plus: The largest plan offered provides all of the above benefits, plus monitoring of all three credit bureaus with credit scores. You may also request monthly credit scores from one credit bureau; however, it is the Vantage 3.0 score, not FICO. You can also opt to have certain investment accounts monitored and receive alerts of bank account takeovers. LifeLock also provides priority customer service for Ultimate Plus members.

Keep in mind: LifeLock does not do business with all banks, credit card companies, or financial institutions. Their scans may miss issues with specific companies if they are not within the LifeLock network.

Customer Service

LifeLock's customer service seems to be where they shine. With accessibility around-the-clock, either on the phone or online chat, customers can ask questions and address concerns any time of day or night. If you experienced identity theft of credit card fraud, you'll need to wait until business hours to secure any restoration services, though. Chances are this is due to the representative's need for access to the bank and credit card companies that operate during business hours.

LifeLock also offers a breadth of customer service options online. Their member portal is user friendly and provides all up-to-date information about your account statuses. Their website also offers a multitude of resources that may either answer your question or help you figure out what to do next.

Customer Service Phone Number: 1-800-416-0599

How to cancel: If you obtained your LifeLock service directly from LifeLock, call 1-800-LIFELOCK (543-3562). You can also cancel via your member portal. If you obtained the service through a third-party, you must contact the third-party to cancel.

How It Compares

  • Identity Guard: With Identity Guard, you get basic identity protection with the exception of driver's license number monitoring. They offer a breadth of services that monitor what happens on your accounts, but they lack the restoration services needed to pick up the pieces. Their customer service is more of an "advice line" than professionals fixing the problem.

  • ID Shield: With ID Shield, you get a $5 million guarantee if your identity is stolen, and you can monitor up to 2 adults and 8 children on one plan. However, they only monitor one credit bureau (TransUnion), no matter which plan you choose. In the event that your identity is stolen; however, you have access to private investigators who also help you restore your identity and/or accounts.

  • IdentityForce: With IdentityForce, you get more than financial protection. They monitor social media sites, blogs, and court records too. Their most basic plan includes most everything LifeLock's most expensive plan offers. However, they do not offer a family plan.

Bottom Line

So is LifeLock worth it?

If you are willing to pay for credit monitoring because you won't do it yourself, it may give you a little more protection against identity theft. Keep in mind that there's no way to completely prevent someone from stealing all or part of your identity. If you are not proactive in keeping your passwords secure and monitoring your accounts on a regular basis, it might be worth the peace of mind to know when something is amiss.

LifeLock Review: Is It Worth It? appeared first on CreditDonkey

Byline in Chicago announces first acquisition since July IPO

by Moira Dolehide @ Byline Bank

American Banker’s, Paul Davis has the story here.

The post Byline in Chicago announces first acquisition since July IPO appeared first on Byline Bank.

E*Trade Review and Current Promotions

by Kevin Mercadante @ Consumerism Commentary

E*TRADE set the bar as one of the first online discount brokers. But is it the broker you should be using? We help you answer that question in our E*TRADE review. It’s curious that the editorial team here at Consumerism Commentary has never reviewed E*TRADE before today. I say that because we have written about […]

The post E*Trade Review and Current Promotions appeared first on Consumerism Commentary.

Chase Bank Business Savings Account $200 Cash Promotion

by MM Team @ Banking Bonuses – Maximizing Money

Get a $200 bonus when you open a Chase Business Savings Account in-branch and deposit a minimum of $15,000 for at least 90 days. [Read More] Chase Bank Business Savings Account $200 Cash Promotion

The post Chase Bank Business Savings Account $200 Cash Promotion appeared first on Maximizing Money.

Chase Business Checking Account $200 Banking Bonus

by MM Team @ Banking Bonuses – Maximizing Money

There is a brand-new offer for a $200 bonus when you open a Chase Total Business Checking account (or any Chase business checking account), deposit $1,000 within 10 business days of account opening, maintain that $1,000 balance for 60 days, and complete 5 qualifying transactions within 60 days, including debit card purchases, Chase QuickDeposit, ACH (credits), and wires (credits and debits). [Read More] Chase Business Checking Account $200 Banking Bonus

The post Chase Business Checking Account $200 Banking Bonus appeared first on Maximizing Money.

Zions Bank Online Savings Account Review

by Luke Landes @ Consumerism Commentary

In our detailed Zions Bank review, we cover its savings products, rates, and fees. We also compare it to other online banking options. As of today, Zions Bank offers one of the highest interest rates among high-interest savings accounts. But is it worthwhile to move your money there to take advantage of this interest rate? […]

The post Zions Bank Online Savings Account Review appeared first on Consumerism Commentary.

How To Avoid Chase Bank Account Monthly Fees

by Hilary Tran @ Bank Deal Guy

Bank accounts are a useful way to track your transactions and keep an eye on all your expenses. Not only do you know that your money is safe, but you can also earn interest with the money that you have in your bank account. However, nothing is free and bank accounts come with the threat... Read More →

The post How To Avoid Chase Bank Account Monthly Fees appeared first on Bank Deal Guy.

Best Student Checking Accounts in 2018

by Luke Landes @ Consumerism Commentary

We’ve complied a list of the best student checking accounts in 2017. Options include online and traditional banks that pay bonuses, high interest rates, or both. As we head into a new year, thousands of young adults will be heading to college for the first time. It’s important to get started on the right financial […]

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New Bank Deals, Bonuses, & Promotions February 2018: Checking & Savings Accounts

New Bank Deals, Bonuses, & Promotions February 2018: Checking & Savings Accounts


Bank Deal Guy

Best bank deals, promotions and sign-up bonus offers. Bank deals, offers for Checking, Savings account promotions. Best Business account offers.

Beverly Atchley

by Smart Bank @ SmartBank

The post Beverly Atchley appeared first on SmartBank.

Chase Total Checking Coupon Code

by Anthony Nguyen @ Bank Deal Guy

The Chase Total Checking® account is Chase Bank’s most popular checking account, and one of the best checking accounts among all major banks. It’s also the most simple checking account offered by Chase and it’s very easy to use! Some great features that you can expect are online banking, bill pay, mobile banking services, plus... Read More →

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Ally Bank Savings Account Review

by Rob Berger @ Consumerism Commentary

I’ve banked with Ally Bank for years, opening both a savings account and CD. In this Ally Bank review, we’ll look at rates, fees and account types. Just over ten years ago, General Motors was having trouble remaining in business. Its subsidiary that provided customers financing for automotive purchases, GMAC, converted to a bank holding […]

The post Ally Bank Savings Account Review appeared first on Consumerism Commentary.

Mike Reilly

by Smart Bank @ SmartBank

Mike Reilly currently holds the position of emeritus chairman of Randall-Reilly, a Media and Information...

The post Mike Reilly appeared first on SmartBank.

Get Rid of Paper Statements

by @ YNB | The Bank That Makes Things Happen

Are your paper bank statements creating clutter around your home? Do they go straight from the mailbox to your trash can or recycle bin? Perhaps you file them away in a filing cabinet where they are never seen again and are gathering dust. If so, use the form below to switch to e-statements today! If […]

The post Get Rid of Paper Statements appeared first on YNB | The Bank That Makes Things Happen.

Gina Simpson

by Smart Bank @ SmartBank

Gina Simpson is a native of Alabama and a multiple graduate of The University of...

The post Gina Simpson appeared first on SmartBank.

M&T Bank Deals, Bonuses, & Promotions: $150, $160, $200, & $250 Checking Offers

by Danny Nguyen @ Bank Deal Guy

Check out our listing of M&T Bank Deals of $150, $160, $200, & $250 promotions. Let M&T Bank reach your financial goals with their full suite of bank accounts and lending solutions, including savings accounts, checking accounts, auto and home loans, and more! M&T Bank has branches in the following states: CT, DC, DE, FL, MD, NJ,... Read More →

The post M&T Bank Deals, Bonuses, & Promotions: $150, $160, $200, & $250 Checking Offers appeared first on Bank Deal Guy.

Steve Tucker

by Smart Bank @ SmartBank

Steve Tucker graduated from the University of Alabama degrees in Finance and Accounting as well...

The post Steve Tucker appeared first on SmartBank.

Key Gold Money Market | Savings Account | KeyBank

Key Gold Money Market | Savings Account | KeyBank


Key.com

Learn more about opening a Key Gold Money Market savings account, which offers competitive interest rates, rewards points, online banking and more.

Take a Travel Card With You

by @ YNB | The Bank That Makes Things Happen

A Visa TravelMoney® Reloadable Debit Card is the secure and efficient way to access funds when traveling anywhere in the world and can be used anywhere Visa Debit Cards are accepted. Purchase at any YNB location. Load your card between $25 and $5000. Withdrawal $300 cash per day at Visa and PLUS ATMs worldwide. No […]

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Five Star Bank Checking Account Bonus: $250 Promotion (New York Only) *In-Branch*

by Howard Young @ Bank Checking Savings

Are you interested in making free money? Five Star Bank is currently offering qualified residents of New York a $250 bonus when you apply and qualify for a new Premier Checking Account by April 30, 2018. To get started, you must open a new account in-branch. For those who are not familiar with the current promotion, you... Keep Reading↠

The post Five Star Bank Checking Account Bonus: $250 Promotion (New York Only) *In-Branch* appeared first on Bank Checking Savings.

Chase Premier Plus Checking Coupon Code

by Anthony Nguyen @ Bank Deal Guy

Need a checking designed to help you easily manage your everyday banking needs & earn internet? You can with the Chase Premier Plus CheckingSM Account. Need more than basic checking with online bill pay and mobile banking? Not only can this checking account earn you interest, but you’ll also save money on ATM fees and other select... Read More →

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Best Bank Deals, Bonuses, & Promotions In Iowa

by Danny Nguyen @ Bank Deal Guy

Editor’s Note: Not your state? No worries, you can click on the state(s) above to see the Best Bank Deals, Bonuses, & Promotions being offered in your state. New to bank bonuses? No worries! See our Beginners Guide To Bank Bonuses. Amongst the sea of corn fields you can find some pretty nice bank bonuses. Here is a... Read More →

The post Best Bank Deals, Bonuses, & Promotions In Iowa appeared first on Bank Deal Guy.

Best Online Bank Rate Guaranteed Promotion

Best Online Bank Rate Guaranteed Promotion


CIMB Bank

Enjoy the best online exchange rate for SGD/MYR guaranteed when you make a fund transfer from CIMB Singapore to CIMB Malaysia. It’s also instant and free!Terms and conditions apply.

Today’s Best Bank Deals, Promotions, and Bonuses

by Stephanie Colestock @ Consumerism Commentary

Get the best bank bonuses, promos and deals with this regularly updated list of bank signup promotions. When opening a bank account, there are a few things you should be looking for: low (or no) fees, the highest interest rates possible, and promotional bonus offers. With the latter, you can often score free money without […]

The post Today’s Best Bank Deals, Promotions, and Bonuses appeared first on Consumerism Commentary.

Chase United TravelBank Card $150 Bonus + No Foreign Transaction Fee + No Annual Fee

by Danny Nguyen @ Bank Deal Guy

Compare this card with other travel related cards here. With the United℠ TravelBank Card, you can $150 in TravelBank cash after you spend $1,000 on purchases in the first 3 months your account is open. In addition to the bonus incentive, you will earn 2% in TravelBank cash per $1 spent on tickets purchased from United and 1.5%... Read More →

The post Chase United TravelBank Card $150 Bonus + No Foreign Transaction Fee + No Annual Fee appeared first on Bank Deal Guy.

Chase Bank Bonus Coupon Codes – $150, $200, $350, $500 – New $500 Combo Link Available

by MM Team @ Banking Bonuses – Maximizing Money

Check out these Chase Bank bonus coupon codes to earn a $150, $200, $350, or even $500 cash reward when you open a new Chase checking account or savings account including business accounts, plus there is a new $500 Chase combo link available through March 3, 2018. [Read More] Chase Bank Bonus Coupon Codes – $150, $200, $350, $500 – New $500 Combo Link Available

The post Chase Bank Bonus Coupon Codes – $150, $200, $350, $500 – New $500 Combo Link Available appeared first on Maximizing Money.

Today's Best Bank Bonuses, Deals and Promotions

Today's Best Bank Bonuses, Deals and Promotions


Consumerism Commentary

Get the best bank bonuses, promos and deals with this regularly updated list of bank signup promotions. Get $300 or more just for opening a bank account.

Chase Total Checking Account Bonus

by Liz Pham @ Bank Deal Guy

Right now, Chase Bank is offering a sign-up bonus when you open their Chase Total Checking® Account. This account is very easy to use and you’ll have access to many features such as online banking, bill pay, mobile banking services like Chase DepositFriendlySM ATMs nationwide, and more! With over 16,000 ATMs and 5,100 branches, convenience is definitely... Read More →

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Best Savings Accounts And High Yield Rates February 2018

by Tony Phan @ MoneysMyLife

Do you need to find out which bank has the best Savings Account rates? Or, how about which has the best Money Market interest rates? Maybe you need a quick overview of the differences between the two types of interest-earning accounts to begin with. We’ll go over all of these questions and help you find the best […]

M&T Bank $200 Checking Bonus [AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, WV] (YMMV)

by Danny Nguyen @ Bank Deal Guy

If you are a resident in one of the following states: AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, or WV, M&T Bank is offering you a $200 bonus when you open a new personal Checking Account with promo code TE and completing certain requirements! Below is all the information and details you need to... Read More →

The post M&T Bank $200 Checking Bonus [AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, WV] (YMMV) appeared first on Bank Deal Guy.

Chase Freedom Credit Card $150 Bonus + 5% Quarterly Cash Back + No Annual Fee

by Anthony Nguyen @ Bank Deal Guy

Compare this card with other cash back cards here. With the Chase Freedom® Card, you can earn a $150 bonus after you spend $500 on purchases during your first 3 months of opening an account! Additionally, you can enjoy a 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and unlimited... Read More →

The post Chase Freedom Credit Card $150 Bonus + 5% Quarterly Cash Back + No Annual Fee appeared first on Bank Deal Guy.

Byline Commercial Real Estate marks 200th deal with Brennan Investment Group

by Moira Dolehide @ Byline Bank

We’re thrilled to announce that our Commercial Real Estate (CRE) team has closed their 200th deal since the department’s recapitalization–that averages to nearly a loan a week. The closing of the Brennan Investment Group loan has brought Byline Bank’s CRE to $740 million in commitments. We’re so grateful to all our customers who provide us […]

The post Byline Commercial Real Estate marks 200th deal with Brennan Investment Group appeared first on Byline Bank.

Chase Coupon Promo Codes: $200, $300, $350, $500 (Feb 2018)

by Tony Phan @ MoneysMyLife

Chase Bank coupon codes, bonuses, and promotions for their Checking, Savings and Business accounts can all be found up-to-date here. Chase promotions are constantly updated throughout the year, so bookmark this page for updates. Many Chase coupon codes are periodically available. Current and past coupons include the following: $100, $150, $175, $200, $250, $300, $350, $400, $500, $600 and […]

Congratulations to Lindsay Corby for being recognized as one of Chicago’s Most Influential Women in Commercial Banking!

by Jessica Hall @ Byline Bank

Byline Bank is proud to congratulate Lindsay Corby on being recognized as one of Chicago’s Most Influential Women in Commercial Banking. Lindsay’s leadership and dedication to excellence are an inspiration to all of us here at Byline Bank. Read the story here.

The post Congratulations to Lindsay Corby for being recognized as one of Chicago’s Most Influential Women in Commercial Banking! appeared first on Byline Bank.

Cincinnati Federal Review: $250 Checking Account Bonus [OH Residents]

by Tony Phan @ MoneysMyLife

Find the latest promotions and bonuses from Cincinnati Federal updated here. Offers have typically ranged from $150 to $250 in the past. Established in 1922 and headquartered in Cincinnati, Ohio, Cincinnati Federal has 4 locations in the state. If you’re not an Ohio resident, use our Bank Bonuses page for other offers, including those from […]

Beau Wicks

by Smart Bank @ SmartBank

Beau Wicks is a lifelong resident of Tuscaloosa. He is a 1983 graduate of The...

The post Beau Wicks appeared first on SmartBank.

Ally Bank Online Savings Account: Earn 1.45% APY Rate [Nationwide]

by Danny Nguyen @ Bank Deal Guy

Available nationwide, Ally Bank is offering you a 1.45% APY on your funds for opening a new Ally Bank Online Savings Account. Below is all the information you need to earn 1.45% APY Rate on your funds when you open an Ally Bank Online Savings Account. Ally Bank Online Savings Account Summary Here is your opportunity to earn a an interest... Read More →

The post Ally Bank Online Savings Account: Earn 1.45% APY Rate [Nationwide] appeared first on Bank Deal Guy.

Chase Bank $200 Checking Bonus [Many States]

by Danny Nguyen @ Bank Deal Guy

Ranking as one of the top banks in America, you are making the right choice banking with Chase! Opening a new Chase Total Checking® Account offers you the potential to earn a $200 Checking Bonus by applying in-branch ! With over 5,100 branches in AZ, CA, CO, CT, DC, FL, GA, ID, IL, IN, KY, LA, MA,... Read More →

The post Chase Bank $200 Checking Bonus [Many States] appeared first on Bank Deal Guy.

HSBC Bank Deals, Bonuses, & Promotions: $100, $200, $350, $600, $750 Checking Offers

by Hilary Tran @ Bank Deal Guy

Check out our listing of HSBC Bank Deals of $100, $200, $350, $600, & $700 promotions. At HSBC they seek to build trust-based and lasting relationships with their many stakeholders to generate value in society and deliver long-term shareholder returns. HSBC Bank is available nationwide but has physical branches in the following states: CA, CT, DC,... Read More →

The post HSBC Bank Deals, Bonuses, & Promotions: $100, $200, $350, $600, $750 Checking Offers appeared first on Bank Deal Guy.

8 Ways to Get Free Amazon Gift Cards

by Stephanie Colestock @ Consumerism Commentary

The one thing better than an Amazon gift card is a free Amazon gift card. Here are eight ways to score free Amazon gift cards. If you’re anything like me, you’re used to seeing “Amazon” on your bank statement. Those boxes with blue tape are a mainstay on my front porch, delivering everything from vitamins […]

The post 8 Ways to Get Free Amazon Gift Cards appeared first on Consumerism Commentary.

Chicago’s Byline Bank buys leading Evanston community bank

by Moira Dolehide @ Byline Bank

Read the Crain’s Chicago Business story on Byline Bank here.

The post Chicago’s Byline Bank buys leading Evanston community bank appeared first on Byline Bank.

Chicago’s Byline Bank to buy First Evanston for $169 million

by Moira Dolehide @ Byline Bank

Chicago Tribune’s, Samantha Bomkamp reports on Byline’s upcoming acquisition. See the full story here.

The post Chicago’s Byline Bank to buy First Evanston for $169 million appeared first on Byline Bank.

Billy Carroll

by Smart Bank @ SmartBank

President & Chief Executive Officer Billy Carroll is the President and Chief Executive Officer of...

The post Billy Carroll appeared first on SmartBank.

BBVA Compass Bank 12-Month Certificate of Deposit Account: Earn 1.50% APY [Nationwide]

by Danny Nguyen @ Bank Deal Guy

Available nationwide, you can earn 1.50% APY when you open up a new 12-Month CD Account with BBVA Compass Bank! Below is all the information and details you need to open your BBVA Compass Bank 12-Month Certificate of Deposit Account to earn 1.50% APY! Editor’s Note: See our full list of BBVA Compass Bank Deals, Bonuses, Rates, and Promotions. BBVA Compass Bank... Read More →

The post BBVA Compass Bank 12-Month Certificate of Deposit Account: Earn 1.50% APY [Nationwide] appeared first on Bank Deal Guy.

Amboy Direct eSavings Account $50 Bonus Review

by Adam Luehrs @ Consumerism Commentary

Amboy Direct offers an eSavings account with a competitive rate and a $50 bonus. Get all of the details in our Amboy Direct review. There’s a chance to get a cash bonus of $50 if you’re planning to open a new interest-earning bank account. Amboy Direct is offering a limited-time bonus for new customers of […]

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Metromile Insurance Review: Is It Legit?

by feedback@creditdonkey.com (Kim P) @ CreditDonkey

Low-mileage drivers have a pay-as-you-go insurance option with Metromile. Available in 7 states, your premium is based on miles driven plus a base rate.

Metromile puts traditional car insurance to the test for low-mileage drivers. The company recognizes that low-mileage drivers overpay for car insurance. Their solution is a usage-based insurance. They quote drivers a base rate that they determine based on their driving record, type of car driven, and age of the car. This is similar to how other car insurance companies calculate your rate.

The base rate is the only fixed rate. You then pay a premium based on the miles driven. Metromile tracks the miles with their Pulse device, which you place in your car. Each month, Metromile reads the device and bills you for the miles driven.

Who Is Metromile Best For?

  • Occasional drivers: Driving fewer than 10,000 miles per year can provide substantial savings on this pay-as-you-go insurance. If you drive more than 10,000 miles, though, the per mile rate can add up.

  • Tech savvy drivers: Keeping track of your miles driven, gas mileage, or time spent driving is easy with this program. If you keep the GPS activated on the device, you can track your car (ever lost a parked car?) and even get alerts when something is wrong with your vehicle.

  • Drivers who can handle varying insurance bills: Your insurance bill will likely fluctuate from month to month. This means you have to be adaptable. If varying bills drive you crazy or if you are bad at budgeting, it could be hard to keep up with the constantly changing bills.

Why We Like Metromile

  • Rates not based on driving habits: Your rates are not based on how fast you drive or how hard you brake. You know your base rate and your per mile rate upfront. You can even keep track of your miles driven on the app, so you always know where you stand. You can minimize the unpleasant surprises monthly bills sometimes contain.

  • No penalty for occasionally driving more than 250 miles in a day: Driving more than 250 miles in a day won't result in any penalties or large bills. This benefits you if you hit that many miles sporadically, but if it's a regular habit, though, this might not be the right insurance for you.

  • Tech-savvy applications: Savings isn't the only thing Metromile offers. With the Pulse device, drivers can see their speed on trips, how much gas for the trip cost, and even where they parked their car.

  • Get alerts regarding your car's check engine light: The Metromile app helps you decode your check engine light. It also helps you find a mechanic to fix the problem.

  • Full coverage available: You can get as much coverage as you want or as little as your state requires. Metromile offers bodily injury, property damage, uninsured/underinsured motorist, personal injury protection, comprehensive, and collision coverage.

  • Roadside assistance available: If you are stuck on the side of the road with a flat tire or broken down car, Metromile offers roadside assistance, such as towing, flat tire help, and lockout assistance. Each policy differs - you must inquire about the services that may pertain to you.

  • Pet protection available: Driving with pets can put them at risk for injury if you are in accident. You can add pet protection onto your insurance, giving you up to $1,000 coverage if your pet suffers injuries in the accident.

  • Privacy control: If privacy is a concern for you, it's possible to turn the GPS locator off the Pulse device. It won't provide you with any of the perks above, such as finding your parked car, but it will still give you the mileage tracker that helps you save on your car insurance.

Why You Might Look Elsewhere

  • Claims take a while to process: If there's one common theme about Metromile complaints, it's the speed at which they handle claims. You submit your claim online. Then you are at the mercy of the adjustor or customer service agent to call you when they get to your claim. This could mean waiting days or even weeks for a call back.

  • You drive more than 10,000 miles per year: You don't get to take advantage of the low mileage discount if you drive more than 10,000 miles per year. It might even cost you more to use Metromile if you are not well under the 10,000-mile average.

  • You are on a fixed income budget: Unless you drive the same number of miles every single month, which is unlikely, you'll have varying insurance bills. If you prefer fixed bills that you can predict each month, the pay-for-what-you-drive plan may not be a good fit.

Customer Service

Being just a few years old, Metromile is still trying to figure out the perfect way to handle customer service.

They do offer 24/7 claims service. But this basically means you can file your claim 24/7. You may not hear back from an agent for a while. When they do help you, though, Metromile provides you with a dedicated claims professional who will help you through the claim process. They also help you find repair shops near you to speed up the process.

Recently, Metromile introduced automated claims processing. Not only can you file your claim online, but you can also upload the data from your Pulse device to help process the claim. Metromile states that some claims can even be handled automatically, getting you payment right away. We tend to think this is reserved for very minor claims, but it's a nice feature nonetheless.

Customer Service Phone Number: 1-888-242-5204

Dashboard

Drivers can access information about their driving habits, including miles driven, the cost of routes taken, and gas mileage online. All you need is your ID and password to gain access to this information. Basically, the dashboard provides you with ways to save money. It does not, however, give you any feedback on your driving habits. If money is your main concern, the dashboard serves its purpose. If you want to lower your insurance rates based on your driving habits, you'll need to look elsewhere.

App

The Metromile app does many of the same things as the dashboard. The difference is you have access to the information on-the-go. The app takes things a step further though. It will tell you:

  • Your car's health status
  • Decode any check engine light warnings
  • Send alerts when street sweepers are cleaning the street you are parked on (certain cities only)

How It Compares

Low-cost insurance is something many drivers want. Perhaps Metromile's largest competitor in that arena is Geico. Known for its rock-bottom prices for standard insurance, Geico is a fierce competitor. It's not a pay-as-you-go policy, though. You pay the same premium every month based on your individual factors. But those rates are among the lowest in the industry.

Unlike Metromile, Geico offers discounts for various things aside from the multi-vehicle discount, such as:

  • Safety features on your vehicle
  • Good driving habits
  • Defensive driving classes
  • Customer loyalty

Geico is also available in all 50 states, whereas Metromile is still only available in 7 states. Metromile does have a "waiting list" on their website that you can sign up for. You will then be alerted when the insurance is available in your area.

Geico has been around for 80 years and Metromile is still in its infancy, barely hitting 5 years on the market.

If saving money is your main concern, Geico takes the cake for high-mileage drivers and Metromile has a slight edge for low-mileage drivers, assuming you aren't eligible for many other discounts.

Bottom Line

In our opinion, if you don't drive often, Metromile may save you money every month. City dwellers who drive only a few miles at a time see the greatest results. Metromile makes it very convenient to use their insurance and service with one simple device to plug into your car.

We suggest determining how many miles you drive on average per year and compare your cost with standard insurance policies. If you are close to the 10,000-mile threshold, you may want to consider other options. If you are on the other spectrum, though, paying only for what you use could come in handy.

Metromile Insurance Review: Is It Legit? appeared first on CreditDonkey

How Many Savings Accounts Do You Need?

by Abby Hayes @ Consumerism Commentary

Back in the day, we had just one savings account. Mine came with a passbook. Now we ask–how many savings accounts do you need? We have the answer. These days, more banks are offering low- or no-fee savings accounts. This can make it tempting to open a lot of different accounts. And, in some cases, […]

The post How Many Savings Accounts Do You Need? appeared first on Consumerism Commentary.

Secure Your Valuables Affordably

by @ YNB | The Bank That Makes Things Happen

BENEFITS OF USING A SAFE DEPOSIT BOX Your items are protected from fire, flood, or other natural disasters at home A natural disaster can destroy much more than the house itself. It can destroy memories — like photographs, jewelry, birth certificates, and other important records. You should keep your most valued possessions, copies of your […]

The post Secure Your Valuables Affordably appeared first on YNB | The Bank That Makes Things Happen.

First Bank Financial Centre Business Checking Bonus: $300 Promotion (Wisconsin only)

by John Catral @ Bank Checking Savings

Available for business owners of Wisconsin, First Bank Financial Centre is currently offering residents of Wisconsin a generous $300 bonus when you sign up and open any new Business Checking Account. All you have to do to get started is open any new business account at your nearest branch or online, and then have at least 50... Keep Reading↠

The post First Bank Financial Centre Business Checking Bonus: $300 Promotion (Wisconsin only) appeared first on Bank Checking Savings.

Byline Bancorp Announces Agreement to Acquire First Evanston Bancorp

by Moira Dolehide @ Byline Bank

NEWS RELEASE FOR IMMEDIATE RELEASE November 27, 2017 Highlights Expands Byline’s footprint into attractive Evanston market with significant scale and #2 market share Strengthens and further diversifies Byline’s commercial banking business Continues Byline’s focus on high quality, low-cost core deposits Creates the largest community bank in Chicago with assets under $10 billion Byline’s first acquisition […]

The post Byline Bancorp Announces Agreement to Acquire First Evanston Bancorp appeared first on Byline Bank.

Byline Sponsor Finance Group supports Spell Capital Partners in its acquisition of Viking Engineering & Development, Inc.

by Jessica Hall @ Byline Bank

NEWS RELEASE FOR IMMEDIATE RELEASE January 23, 2018 Byline Sponsor Finance Group supports Spell Capital Partners in its acquisition of Viking Engineering & Development, Inc. Byline Bank’s Sponsor Finance Group (“BSFG”), the cash flow lending division of Chicago-based Byline Bank, announced that it provided revolving and term credit facilities to finance Spell Capital Partners investment in […]

The post Byline Sponsor Finance Group supports Spell Capital Partners in its acquisition of Viking Engineering & Development, Inc. appeared first on Byline Bank.

William A Pruett

by Smart Bank @ SmartBank

William A Pruett, also known as Bill, served as Senior Executive Vice President TSYS (Total...

The post William A Pruett appeared first on SmartBank.

20+ Best Bank Promotions & Bonus Offers ($100 Minimum!)

20+ Best Bank Promotions & Bonus Offers ($100 Minimum!)


Wallet Hacks

See the best nationally available bank promotions and signup bonuses available ($100 minimum!) - we keep this list of 20+ bank offers updated weekly. No expired promotions or tiny banks listed, just nationally available, easy to get promos.

BBVA Compass Bank Checking, Savings, CD Account Promotions

by Tony Phan @ MoneysMyLife

Find the latest BBVA Compass bank promotions, bonuses and offers here for Checking and Savings accounts. Typical bonus amounts are $25, $50, $100, $125, $250, etc. Sometimes there will also gift bonuses, such as tablets and other electronics. BBVA Compass was established in 1964 and is headquartered in Birmingham, Alabama. They have over 650 branches […]

We've Got Special Deals for You!

We've Got Special Deals for You!


SouthEast Bank

Check out this month's special promotion and contact us to get started today.

Best Bank Account Bonuses For February 2018 | Bankrate.com

Best Bank Account Bonuses For February 2018 | Bankrate.com


Bankrate

Walk away with sacks of cash just for opening a checking or savings account.

Alliant Credit Union Checking, Savings, CD Promotions & Offers

by Tony Phan @ MoneysMyLife

Find the latest promotions, offers, and updated rate information for Alliant Credit Union here. Alliant Credit Union is based in Illinois and offers personal banking products and loans to hundreds of thousands of members. Unlike many credit unions, Alliant allows anyone nationwide to join with just a $10 charitable donation to Foster Care to Success. […]

Byline Sponsor Finance Group supports LFM Capital in its acquisition of Medix Specialty Vehicles, LLC

by Jessica Hall @ Byline Bank

NEWS RELEASE FOR IMMEDIATE RELEASE November 28, 2017 Byline Sponsor Finance Group supports LFM Capital in its acquisition of Medix Specialty Vehicles, LLC Byline Bank’s Sponsor Finance Group (“BSFG”), the cash flow lending division of Chicago-based Byline Bank, announced that it provided revolving and term credit facilities to finance LFM Capital’s investment in Medix Specialty Vehicles, […]

The post Byline Sponsor Finance Group supports LFM Capital in its acquisition of Medix Specialty Vehicles, LLC appeared first on Byline Bank.

Premier America Credit Union Promotions: $50 + $50 Bonus [CA, TX Residents]

by Tony Phan @ MoneysMyLife

Premier America Credit Union promotions and sign-up bonus offers will be updated at this page. Typical offers in the past have been for $100 to $200 in bonus cash. Headquartered in Chatsworth, California and established in 1957, Premier America Credit Union has around 20 locations in California and Texas. If you’re not a resident of either […]

Jon Farmer

by Smart Bank @ SmartBank

Jon Farmer graduated from Auburn University in 1981 with a B.S. in Marketing. He completed...

The post Jon Farmer appeared first on SmartBank.

Stay Informed by Email

by @ YNB | The Bank That Makes Things Happen

  When you sign-up for our e-newsletter you will receive important alerts and updates, new account offers and loan promotions, information about community events and more! Sign up now! Sign up to receive important updates, information about bank events and special promotions Enter Email If you have already signed up, you may enter your email […]

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Promotions and Services |SmartBank

Promotions and Services |SmartBank


SmartBank

Experience more value, more flexibility and more control over your finances with SmartBank. Our promotions and services ensure your financial needs are met.

The Best Current and Historical Bank Interest Rates — February 2018

by Rob Berger @ Consumerism Commentary

We’ve tracked bank rates since 2008. The latest list shows the best bank interest rates available nationwide as of February 2018 (with daily updates). Since many banks are constantly updating their interest rates offered on savings, money market and checking accounts, this chart should come in handy. On the 1st of every month, this page […]

The post The Best Current and Historical Bank Interest Rates — February 2018 appeared first on Consumerism Commentary.

Chase Savings Account Review: $150, $200 and $300 Promotional Codes

by MM Team @ Banking Bonuses – Maximizing Money

The Chase Savings Account is now offering 3 different promotions, including a $150 cash bonus when you deposit $10,000, a $200 bonus when you deposit $15,000, and a $300 bonus when you deposit $25,000. [Read More] Chase Savings Account Review: $150, $200 and $300 Promotional Codes

The post Chase Savings Account Review: $150, $200 and $300 Promotional Codes appeared first on Maximizing Money.

10 Legitimate Ways to Watch Free Movies Online

by Abby Hayes @ Consumerism Commentary

There are now more ways than ever to watch free movies online. Here are 10 of them, some of which offer recently released flicks. If you’re anything like me, your family time and date nights often involve watching movies. There’s nothing our five-year-old likes better than curling up on the couch with some popcorn to […]

The post 10 Legitimate Ways to Watch Free Movies Online appeared first on Consumerism Commentary.

131 Retailers Will Ship for Free This Year

by Stephanie Colestock @ Consumerism Commentary

On Free Shipping Day (December 15) 131 retailers will ship your purchases to you for free. Here are all the details you need to know. According to the latest statistics, over 55 percent of shoppers are now buying their Christmas gifts online. This isn’t surprising to me personally. With Amazon’s free Prime shipping, I do most […]

The post 131 Retailers Will Ship for Free This Year appeared first on Consumerism Commentary.

Synchrony Bank Review and Interest Rates

by Adam Luehrs @ Consumerism Commentary

We’ve reviewed countless banks. Our review of Synchrony Bank led to one inescapable conclusion–Synchrony bank offers some of the highest interest rates on savings products. Coupled with low fees, it’s an excellent choice for savers. The main reason why people use Synchrony Bank is its ability to deliver higher-than-average interest rates. Of course, the nice […]

The post Synchrony Bank Review and Interest Rates appeared first on Consumerism Commentary.

Evolve Federal Credit Union Rewards Checking Account Review: 5.00% APY Up To $10,000

by John Catral @ Bank Checking Savings

Available for residents of Texas, Evolve Federal Credit Union is currently offering a generous 5.00% APY when you sign up and open a new ePriority Checking account. If you are currently interested, the bank is offering you the attractive APY rate on a balance up to $10,000. Not only are you able to bank with ease with... Keep Reading↠

The post Evolve Federal Credit Union Rewards Checking Account Review: 5.00% APY Up To $10,000 appeared first on Bank Checking Savings.

Best Bank Account Bonuses and Offers February 2018 - NerdWallet

Best Bank Account Bonuses and Offers February 2018 - NerdWallet


NerdWallet

Excellent cash bonuses are available if you open checking or savings accounts with some banks. Here are the best offers this month: Checking account offers and savings promotions Top picks…

How to Get Started with the Chase Mobile App

by Anthony Nguyen @ Bank Checking Savings

Chase Mobile is the mobile banking app for customers of JP Morgan Chase Bank, and it’s available for Android, iPhone, Windows, and Amazon Fire. The app offers a number of convenient features and can complete almost all of your personal banking tasks. Some of you guys out there may have trouble getting started with this app, so... Keep Reading↠

The post How to Get Started with the Chase Mobile App appeared first on Bank Checking Savings.

Best Bank Promotions in 2018

by Best Bank Deals @ Online Bank Promotions – 2015 Bank Promotions

National Bank Deals and Bank incentives for new accounts. The Best Bank Offers from Top Banks in the US. National Banks Offering a Bonus for New Accounts in the US. Top Banks in the US Bank of America National Bank … Continue reading

Rates Are Falling Just Like the Leaves

by @ YNB | The Bank That Makes Things Happen

Enjoy our super low loan rate of 1.912% APR on new autos for a limited time!

The post Rates Are Falling Just Like the Leaves appeared first on YNB | The Bank That Makes Things Happen.

CIT Bank Review and Bonuses

by Stephanie Colestock @ Consumerism Commentary

CIT Bank bonus offers can be very rewarding. We track these bonuses and CIT rates, which currently are the best you’ll find for an online savings account. Everybody needs a safe place to tuck away their emergency fund or vacation savings. A high yield savings account is a great option. Considering that the average savings […]

The post CIT Bank Review and Bonuses appeared first on Consumerism Commentary.

Ally Bank Online Checking, Savings, CD, Investing Promotions

by Tony Phan @ MoneysMyLife

Ally Bank is another great online-only bank, and offers nationwide online Checking, Savings, Money Market, CD and IRA accounts that earn market leading rates. Ally Bank is an internet-only bank based in Utah and offers a wide variety of deposit accounts, as well as auto financing services. Their online banking platform features Ally eCheck Deposit, which offers […]

Newtown Savings Bank $100 Checking Bonus [CT Residents]

by Tony Phan @ MoneysMyLife

Find updated Newtown Savings Bank promotions and bonuses at this page. Typical bonuses have been for $100, $150 and $200. Established in 1855 and headquartered in Newtown, Connecticut, Newtown Savings Bank has nearly 20 locations throughout the state. If you’re not a CT resident, head on over to our Bank Bonuses page for more suitable […]

Is Online Banking Safe? How to Boost Your Banking Security

by Margarette Burnette @ NerdWallet

When you bank online, you trust that your account is safe from hackers. Even so, online accounts can seem to consumers like easy targets: Instead of robbing a bank, a…

Legacy Texas Bank Checking Review: $200 Bonus (Texas only) *Current Clients only*

by Howard Young @ Bank Checking Savings

Are you currently banking with Legacy Texas Bank? Legacy Texas Bank is currently offering existing clients a generous $200 bonus when you apply and qualify for a new Maximum Checking Account with a minimum opening deposit of $100 by March 31, 2018. Once you have signed up for a new account, all you have to have to... Keep Reading↠

The post Legacy Texas Bank Checking Review: $200 Bonus (Texas only) *Current Clients only* appeared first on Bank Checking Savings.

Specials and Promotions | Bank of Sun Prairie

Specials and Promotions | Bank of Sun Prairie


Bank of Sun Prairie

Specials on rates, closing costs and other great opportunities for home equity loans and favorable financing deals. Check out our latest best deals!

Bank of America $100 Checking Account Cash Bonuses

by MM Team @ Banking Bonuses – Maximizing Money

Bank of America has a new $100 bonus offer available for opening a Core Checking or Interest Checking account by February 28, 2018, and receiving 2 qualifying direct deposits of $250 or more each within 90 days from account opening. [Read More] Bank of America $100 Checking Account Cash Bonuses

The post Bank of America $100 Checking Account Cash Bonuses appeared first on Maximizing Money.

Best Bank Promotions in 2018

by Best Bank Deals @ 2015 Bank Promotions

National Bank Deals and Bank incentives for new accounts. The Best Bank Offers from Top Banks in the US. National Banks Offering a Bonus for New Accounts in the US. Top Banks in the US Bank of America National Bank … Continue reading

Why more banks are launching IPOs

by Moira Dolehide @ Byline Bank

Read the American Banker story here.

The post Why more banks are launching IPOs appeared first on Byline Bank.

Which Southwest Credit Card is Right for You?

by feedback@creditdonkey.com (Anna G) @ CreditDonkey

Fly Southwest? You may want to consider a Southwest credit card from Chase. But which one is right for you? We break it down.

Southwest offers a couple of the best airline cards for domestic travelers.

If you fly Southwest at least a couple of times a year, consider one of the two co-branded credit cards offered by Chase: Southwest Rapid Rewards Plus and Southwest Rapid Rewards Premier.

Both cards offer a high sign-up bonus and good reward potential. The Plus has a lower annual fee but is not ideal for international travel. The Premier is the more upscale version with slightly better rewards.

Which makes more sense?

We'll do a full run-down comparing the two cards, so you can make your own choice.

Overview: Southwest Plus and Southwest Premier

Before we start comparing, let's go over how the two cards work in a nutshell. Both cards give you the same sign-up bonus and reward points. There are a couple of major differences:

  • The Southwest Plus card has a $69 annual fee. You get 3,000 bonus points each anniversary year. There is a foreign transaction fee.

  • The Southwest Premier card has a $99 annual fee. You get 6,000 bonus points each anniversary year and earn points toward elite tiers. There is no foreign transaction fee.

Now, with these major differences in mind, let's go over why you may prefer one over the other.

Note: Chase has a 5/24 rule, which means that if you've opened 5 credit card accounts in the past 24 months (from any bank), you will not be approved for a new card. The Southwest cards fall under this rule.

Why Either Card Is a Good Choice

Both cards are designed to earn Rapid Reward points, which can then be redeemed for Southwest award flights (more detail in the next section). With both Southwest cards, you get:

  • Sign-up bonus. You can earn 50,000 points after you spend $2,000 on purchases in the first 3 months of account opening.

  • 2x on Southwest purchases. You get 2 points per dollar spent on Southwest purchases, including participating Rapid Rewards hotel and car rental partner purchases. You get 1x per dollar on all other purchases.

  • Points for balance transfers. You get 1 point for each $1 in balance transfers made within the first 90 days of account opening (up to $10,000 for the Plus, and $15,000 for the Premier). Most credit cards don't let you earn points for balance transfers.

  • Earn points toward Unlimited Companion Pass. If you earn 110,000 Rapid Reward points in one calendar year, you can name one companion to fly free with you on unlimited Southwest flights until the end of the following year. This is one of the best companion deals out there. With the sign-up bonus alone, you're more than a third of the way to the Companion Pass.

    Note: Only points earned with the Southwest credit cards qualify towards a Companion Pass. So, for example, if you have the Chase Sapphire Preferred and transfer points to Southwest, they won't qualify.

  • Bags fly free. Your first and second checked bags are free.

  • No blackout dates, seat restrictions, or change fees. You can use your miles to book any seat on any flight. And if you need to change the date of a flight, there's no change fee (though you will still need to pay the fare difference).

  • Rewards never expire. Your miles never expire as long as your card account remains open.

Who the Southwest Plus Card Is Good For

If you're an occasional domestic flyer (you fly Southwest just a few times a year), then this card is probably good enough for you. Since both cards have the same sign-up bonus and reward earnings, the Plus will save you money with a smaller annual fee.

Remember, it also gives you 3,000 points every anniversary year. This doesn't fully cover the annual fee, but it makes it easier to swallow.

Why the Southwest Rapid Reward Premier Card Is Superior

If you fly Southwest more often, the Premier card may be better for you. Here are some other perks that come with the Southwest Premier:

  • Tier qualifying points (TQPs): For every $10,000 spent on the card (on eligible purchases), you earn 1,500 TQPs. You can earn up to 15,000 TQPS per year. TQPs can be used for Rapid Rewards elite status.

    • If you achieve A-List status (35,000 TPQ per year), you get: priority check in, security, and boarding; dedicated phone line; free same-day standby; and 25% earnings bonus on Southwest flights.

    • If you achieve A-List Preferred status (70,000 TPQ per year), you get the above plus: free in-flight Wi-Fi and 100% earnings bonus on Southwest flights.

  • 6,000-point anniversary bonus: You get a bonus 6,000 points every year on your account anniversary. 6,000 points could be worth a flight around $100, so this already justifies the higher $99 annual fee.

  • No foreign transaction fee: The Premier card has no foreign transaction fee for purchases made abroad.

Do you own a business? There is also a business version of the Premier card – the Southwest Rapid Rewards Premier Business Credit Card.

Both Do Have Downsides

Keep in mind some of these downsides for both cards:

  • No priority boarding. Unlike other co-branded airline cards that give you priority boarding just for owning the card, the Southwest cards don't include this perk. The only way to get this perk is to earn enough TPQs in a year to qualify for elite status.

  • High APR. Neither card has an introductory APR offer for purchases or balance transfers. The regular APR is quite high, so make sure you are able to pay off the balance each month.

  • You only get bonus points for Southwest flights, and hotel and car rental partners. Unless you fly Southwest a lot and use their hotel and car rental partners, it may be hard to rack up points. If your goal is to earn points faster, then consider whether the Chase Sapphire Preferred may be a better fit. It gives you 2x points on travel and dining purchases. Then you can transfer the points 1:1 to Southwest (but they won't qualify for the Companion Pass).

  • You can only redeem on Southwest flights. This isn't much of a problem if you take a lot of Southwest flights. But if you want more flexibility or want to travel to places Southwest doesn't go, then think about whether it's better to get a general travel rewards card that lets you use any airline.

  • The Plus card has a foreign transaction fee. The Plus card charges a foreign transaction fee on purchases made out of the country (3% of each transaction in U.S. dollars on purchases). However, the Premier card has no foreign transaction fee, so it is better if you travel internationally.

How to Use Southwest Rapid Reward Points

Both cards earn Rapid Reward Points, which you can redeem towards any Southwest flight, with no blackout dates and no seat restrictions.

Using your points is very easy. Simply sign in to your Rapid Rewards account (create it for free) to book travel, and select the option “Points.”

You will then see the flight options listed in points. You can also toggle back and forth between dollars and points to compare the points value.

Southwest has three types of fares. Wanna Get Away is the cheapest fare. It's nonrefundable, but can be cancelled for credit good up to 1 year from purchase date. Business Select and Anytime fares are fully refundable.

So what are Rapid Reward points worth?
Southwest points have pretty good value, especially for the Wanna Get Away fights. We find that, generally, each Rapid Reward point is worth between 1.6 and 2.0 cents. This means that 10,000 points could be redeemed for a flight that costs around $160 - $200.

For example, in the sample flight above from Los Angeles to Seattle in March 2018, the highlighted flight costs 4,248 points. If you were to buy it with cash, it costs $86. That means the point value of the flight is 2.02 cents.

You don't pay any taxes or surcharges for domestic flights, except for the $5.60 Security Fee in each direction.

Do You Fly Other Airlines?

Not a frequent Southwest flyer? If there's another airline you prefer instead, consider these cards:

Bottom Line

So, which Southwest card is right for you? Since both cards give the same sign-up bonus and have the same reward structure, which is better?

If you fly Southwest just a few times a year domestically, the Plus card will do the job just fine. If you travel to any of Southwest's international offerings, you'll want the Premier card as it has no foreign transaction fee. It also has a larger anniversary bonus each year, which helps justify the $99 annual fee.

Which Southwest Credit Card is Right for You? appeared first on CreditDonkey

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: The information for the Southwest Rapid Rewards Premier Credit Card, United MileagePlus Explorer Card, Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®, and Southwest Rapid Rewards Plus Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

New Year, New Car; Lower Rate

by @ YNB | The Bank That Makes Things Happen

The post New Year, New Car; Lower Rate appeared first on YNB | The Bank That Makes Things Happen.

Best Personal Checking Account Promotions in 2017 - The Simple Dollar

Best Personal Checking Account Promotions in 2017 - The Simple Dollar


The Simple Dollar

If you need a new checking account, banks from coast to coast are offering attractive promotional bonuses to lure your business. A bank checking account bo

Heartland Financial USA – $200 Consumer Checking Account Bonus – AZ, CA, CO, IA, IL, KS, MO, MT, NM and WI

by MM Team @ Banking Bonuses – Maximizing Money

Earn up to $200 in bonus cash with a consumer checking account when you enroll in eStatements and have at least 1 $500 direct deposit, available at various community banks in Arizona, California, Colorado, Illinois, Iowa, Kansas, Missouri, Montana, New Mexico, and Wisconsin. [Read More] Heartland Financial USA – $200 Consumer Checking Account Bonus – AZ, CA, CO, IA, IL, KS, MO, MT, NM and WI

The post Heartland Financial USA – $200 Consumer Checking Account Bonus – AZ, CA, CO, IA, IL, KS, MO, MT, NM and WI appeared first on Maximizing Money.

American Express Platinum Delta SkyMiles Business Credit Card Review: 5,000 MQM + 35,000 Delta Skymiles + $100 Statement Credit

by Anthony Nguyen @ Bank Checking Savings

The Platinum Delta SkyMiles Business Credit Card is currently offering 35,000 Delta Skymiles and 5,000 Medallion® Qualification Miles (MQMs)  when you spend $1,000 in purchases within the first 3 months. Additionally, you can get a $100 Statement Credit when you make a Delta purchase within the first 3 months. For every 5,000 bonus miles redeemed, that’s $50 off... Keep Reading↠

The post American Express Platinum Delta SkyMiles Business Credit Card Review: 5,000 MQM + 35,000 Delta Skymiles + $100 Statement Credit appeared first on Bank Checking Savings.

American Express Personal Savings Account Review

by Jim Wang @ Wallet Hacks

American Express (AMEX) is best known for their credit cards but they do much much more. Credit cards is where they started, many years ago, but now they offer bank accounts too. We know they have great perks on their credit cards, but what about their bank products? Their high yield savings account is called […]

The post American Express Personal Savings Account Review appeared first on Wallet Hacks.

Bank Of The West Review: $150 Checking Account Bonus

by Tony Phan @ MoneysMyLife

Get the latest Bank of the West bonuses and promotions here. There are branches in the following states: AZ, CA, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, UT, WA, WI, WY. Typical promotions for Checking accounts have been for $150, $200 and $300. They also oftentimes have promotions for their investment services […]

10 Bank Promotions That Pay You To Open An Account

10 Bank Promotions That Pay You To Open An Account


Investopedia

Find out which banks are running cash promotions this summer.

Discover Bank Review: CD Rates and Savings

by feedback@creditdonkey.com (Lee M) @ CreditDonkey

Discover offers high interest rates on its online savings and CD accounts. But there are some downsides. Here's what you need to know before you open an account.

Traditional savings accounts pay very little interest. If you want to earn a more impactful return on your savings, online banks often offer higher rates.

In this article, we will look at how you can use Discover's Online Savings Accounts and CDs to help grow your savings.

How It Works

Discover offers high yield savings accounts and Certificates of Deposit (CDs). Both earn a higher interest rate than a typical savings account. However, the two products work in fundamentally different ways.

  • Discovers Online Savings Accounts can earn up to a 1.40% annual percentage yield (APY). They work much like typical savings accounts, except that Discover does not have any physical branch locations.

  • Discover's CDs require you to deposit your savings for a set period of time. Withdrawing funds from a CD before the term has ended will incur a penalty. Also, CDs often have a higher minimum deposit than savings accounts. Due to these requirements, some CDs earn a higher APY than savings accounts.

Now that we've covered the basics, let's get into the specifics.

Discover Bank Promotions: February 2018

Online Investor Savings

Discover is an online bank, so they don't have many of the overhead costs that brick-and-mortar banks do. This allows Discover to offer no minimum deposit and a high APY on its Online Savings Account. Here are some additional details:

  • 1.40% APY
  • No minimum deposit
  • No account opening fees
  • No monthly maintenance fees
  • Daily compounding interest
  • Free online and mobile banking
  • FDIC insured

As with any savings account, you'll be limited to 6 withdrawals per month. This is a federally-imposed limitation.

If you need to withdraw money from your Discover savings account, you have a few options: internal Discover transfers, external transfers to another bank, wire transfers, and mailed checks.

Is Discover Safe?: Discover is FDIC insured. This means that if Discover defaults, the federal government guarantees the balance in your savings account, up to $250,000.

Certificate of Deposit (CD)

For CDs, you must deposit a fixed amount of money for a fixed amount of time.

There are a few key factors to consider when deciding on a CD: the term length, the minimum deposit, and the APY. Discover also offers some retirement account qualified CDs, which can be a good option to supplement your retirement savings. Contact your financial professional to see if these retirement options are right for you.

Here are your options:

  • Term CDs: Discover's basic CDs are available in 3, 6, 9, 12, 18, 24, 30 months, and 3-, 4-, 5, 7- or 10-year terms. They require a minimum deposit of $2,500, and their APY range from .35% to 2.45%.

  • IRA CDs: Discover offers a retirement account qualified CD option as well, if you qualify. Both Roth (post-tax) and Traditional (pre-tax) options are offered. Terms and APY of these products are similar to that of Discover’s term CDs.

Why We Like Discover

Here are a few things that we like about Discover's online savings accounts and CDs:

  • Low minimum deposits: If you have just started saving or want to set aside a small balance, Discover can be a great choice. Their Online Savings have no minimum balance requirements at all. Their deposits for term CDs and IRA CDs are some of the lowest in the industry.

  • High rates: Discover's Online Savings offers such a high APY that it outperforms some of their short-term CDs. This is great news for anyone looking to save, but especially for those who can't pay the high minimum deposits that some other banks require. And if you meet a higher minimum deposit, you can earn as much as 2.45% APY on a CD, depending on term length.

  • Minimal fees: Discover cuts out many fees that other banks profit from. For example, you will not be charged any account opening or maintenance fees.

  • Retirement options: Discover offers IRA CDs, which can be utilized in a retirement planning strategy.

Reasons You Might Skip Discover Savings

For all of Discover's advantages, there are some downsides that need to be considered:

  • No branch locations: In exchange for the high interest rate on your online savings account, you are required to do your Discover banking online or over the phone.

  • No ATM card: Discover Savings does not provide an ATM card for easy withdrawals. This could be a good thing so you’re not tempted to spend your money. But if you like that convenience, look into their Money Market account instead. Or there are some other online savings accounts that come with an ATM card.

  • No Relationship Rewards: Some retail banks in the U.S. are now offering relationship bonuses to incentivize their customers to keep all of their business in one place. If you move your savings balance to Discover from your retail bank, you may miss out on some of these relationship bonuses. Contact your bank for more details.

Common Questions

If you're still interested, you probably have some questions. We'll clear up some of the basics here:

  • Should I open a CD or savings account?
    This is a really broad question and everyone has different investment goals. The decision comes down to how much you're looking to set aside, how much risk you are willing to take, and how much you'll need to access your savings.

    If you can commit to not touching your savings for at least 1 year and can meet the minimum deposit, you may be able to earn a higher interest rate with a CD versus a savings account. If you need liquidity, a savings account gives you more flexibility to withdraw your savings when needed.

  • How can I deposit funds with Discover Bank?
    For savings accounts, there are a few ways to deposit funds: deposit checks with your mobile device, transfer from Discover checking, transfer from an external account, mail a check, or set up a direct deposit to your new account. For term CDs, you can transfer from Discover checking, transfer from an external account, transfer by phone, or mail a check. For IRA CDs, contact Discover for instructions on how to fund a Discover IRA account.

  • What is the penalty for early withdrawals from Term CDs?
    It depends on the term of your CD. Here's how it breaks down:

    • Terms less than 1 year: 3 months' interest on the amount withdrawn
    • Terms from 1 year to <4 years: 6 months' interest on the amount withdrawn
    • Terms over 4 years to <5 years: 9 months' interest on the amount withdrawn
    • Terms over 5 years to <7 years: 18 months' interest on the amount withdrawn
    • Terms over 7 years and greater: 24 months' interest on the amount withdrawn

Bottom Line

If you're ready to start building your savings, then you should consider if Discover's Online Savings Accounts or CDs are right for you.

Even if you only have $1 in savings, you can start earning interest in a high yield savings account. Or, if you have at least $2,500 set aside and aren't concerned about liquidity, you can earn an even greater return with a CD.

Discover's savings offerings might not be the right savings product for you, but if you're looking to earn interest above that of a standard savings account, opening a savings accounts or CD from Discover is an investment option worth considering.

Discover Bank Review: CD Rates and Savings appeared first on CreditDonkey

Disclaimer: Opinions expressed here are those of the author's alone. Please support CreditDonkey on our mission to help you make savvy financial decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

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