Psychological_Turn72
Psychological_Turn72 t1_je32qec wrote
Reply to [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy
Definitely move your money to a high yield savings account. Look into CDs right now too if you can tie the money up for 11 or 12 months. Those rates are even more favorable. Also look at purchasing I bonds from the government. These will also tie your money up for at least a year.
Psychological_Turn72 t1_je333g6 wrote
Reply to comment by Flopcandy in [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy
Capital one is offering 5 percent APY which is like 4.88% APR right now for 11 month CDs