Here’s another way credit cards are abusing customers — reducing the value of their reward programs.
The ability to earn points or miles towards everything from cash rebates to airline tickets is often touted in credit card ads.
But the terms of how those points can be earned and redeemed can change at any time. With credit cards on a rate-raising, fee-charging rampage it’s no surprise that they’re devaluing their reward programs, too.
Just look at some of the changes Citi and its partners are making.
The Citi Hilton HHonors Visa, for example, allows holders to earn points toward free hotel rooms. But starting next year you’ll need at least 12,500 points, up from 10,000 points, to get one.
The Citi mtvU Visa card allows students to earn points that can be converted into payments toward student loans. But inste
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Stonebridge Bank is currently running a certificate of deposit special on a 14-month term with a 1.95% APY earnings. This may seem a bit low but is very competitive with its opening balance requirement of just $500.
Other current cd rates are as follows:
18 months 1.80% APY
24 months 2.00% APY
30 months 2.15% APY
36 months 2.40% APY
60 months 2.65% APY
These interest rates are also in effect for the IRAs. Earnings are computed on a daily basis and credited every month. They are posted on the CD Page of the bank but they can be changed any time.
Interested consumers can apply for these money in the bank deals online. Customers from any state can open an account. You can fund the account by sending in a check or by wire transfer. For now, they don’t have any ACH provisions. The interest rate will be locked once the bank receives the initial funding for your CD.
Any early withdrawals from CDs with less than 12-months of maturity will cost about 3 months worth of interest. A
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First National Community Bank (FNCB) is offering a highly competitive 1.75% APY on its Maximum Earnings Savings Account. Here are some details of the account:
- No monthly service fees
- No minimum balance requirements
- Interest earned on balances of $.01 or more
- 6 pre-authorized withdrawals allowed per month
Minimum deposit is $100 to open. The account is available nationwide and allows customers to apply online.
>> Savings Account Rates
Other Terms and Conditions may apply to this offer – please contact the financial institution to review.
Atlantic Coast Bank, which has a dozen branches in Georgia and Florida, has moved into our rankings of the best 24-month CD rates.
It’s offer of 2.40% APR is a little shy of the top 2.50% APR being paid by Hudson City Savings Bank and Frontier Bank.
But those banks require significant minimum deposits while you only need $100 to buy one of Atlantic Coast’s certificates of deposit.
This deal is nationally available and the online application takes only a few minutes to fill out.
Click here to compare Atlantic Coast’s deal with the best CD rates from dozens of other banks in our extensive database.
The Atlanta Postal Credit Union invites its members to take advantage of their highest cd rates that they offer as 91 day to 60 month term certificates of deposit. The most competitive deal is the 2.25% APY on a 6-month term. These can be opened with a minimum deposit of $500. The interest rates for 1 year or longer CDs can also be availed of as IRAs.
The other best cd rates they offer are the following:
2.00% APY 91-day
2.25% APY 6-month
2.50% APY 12-month
2.75% APY 24-month
2.75% APY 30-month
3.00% APY 36-month
3.25% APY 48-month
3.50% APY 60-month
These interest rates are posted on the credit unions website as of October 1. They usually review and change the current cd interest rates every Wednesday of the week but these may change any time.
They also impose penalties for early withdrawals.
Membership to the Atlanta Postal Credit Union is primarily done through qualified employee groups.
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