CIT Bank Platinum Savings APY Boost Promo: 6-Months at 4.10% APY (New and Existing Customers)

Posted on March 10, 2026 // 12 Comments

CIT Bank has a new limited-time Platinum Savings APY Boost Promotion, offering a boosted interest rate of 4.10% APY for 6 months on their Platinum Saving account that is 0.35% APY above the standard APY (currently 3.75% APY) for balances of $5,000 and above. Thankfully, this offer is available to both new and existing customers that activate the promotion.

New customers will need to sign up for a new CIT Bank Platinum Savings account using the promo code CITBoost to qualify. There is a $100 minimum balance required to open, and you will need a $5,000 minimum balance to get the higher interest rate on this tiered account. There are no monthly service fees.

Existing customers with a Platinum Savings account opened prior to the promotion must enroll via the enrollment web page using promo code CITBoost. You will not get the 6-month boost automatically. Note that the terms also add the following:

Customers are ineligible to participate in the Platinum Savings APY Boost promotion if:

– They are earning an APY over the standard rate.
– They participated in a cash bonus promotion in the past 6 months.

Still, I am appreciative that existing customers are again eligible for this promotion, as most other banks will only allow new customers to participate.

Note that if the base rate on the Platinum Savings account changes, during the promo you will maintain a 0.35% APY interest rate boost above the standard interest rate.

1APY disclosure for Platinum Savings:

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of day account balance. *APYs — Annual Percentage Yields are accurate as of February 17, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

2 Discloser on multipliers:

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

* Platinum Savings APY Boost Promotion Terms and Conditions

This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.

Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion.

The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.

The Promotion begins on February 13, 2026, and ends April 13, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.

The promotion can end at any time without notice.

For complete list of account details and fees, see the CIT Bank Personal Account disclosures.

Filed Under: Banking, Deals & Offers //

Wells Fargo $400 Checking Bonus

Posted on March 9, 2026 // 7 Comments

I’ve been opening new bank accounts for bonuses for over 20 years now, and the bonuses have only gotten bigger over time. People still hate switching bank accounts (a big fraction are on the very first checking account they ever opened), which means that banks have to offer big bounties to convince them to switch.

You may be surprised that the well-known banks often offer some of the biggest bonuses, but those are also the banks that pay 0% interest on their deposits, while the bank goes off and earns at least 4% (more as they are lending it out too). If you leave $5,000 in a checking account, that’s at least $200 a year the bank is earning on you, and that can go on for decades.

Right now, Wells Fargo will give you a $400 bonus when you open a new Everyday Checking account and make $1,000 or more in qualifying direct deposits within 90 days of account opening. Offer marked to end 4/7/2026.

The Wells Fargo Everyday Checking account monthly service fee is $15, but it is waived with one of the following each fee period:

  • $1,500 minimum daily balance.
  • $5,000 or more in qualifying deposit balances, investment balances, or both.
  • $500 or more in total qualifying electronic deposits.
  • A primary account owner who is 17 to 24 years old (they want this to be your first checking account!)
  • A qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program.

In the past, Wells Fargo has not done a “hard credit check” upon a new account opening, while also being very flexible with what qualifies as a direct deposit.

Filed Under: Banking, Deals & Offers //

Best Interest Rates Survey: Bank Accounts, Treasury Bills, Money Markets, ETFs – March 2026

Posted on March 8, 2026 // 2 Comments

Here’s my monthly survey of the best interest rates on cash as of March 2026, roughly sorted from shortest to longest maturities. Banks and brokerages love taking advantage of idle cash, and you can often earn more interest while keeping the same level of safety by moving to another FDIC-insured bank or NCUA-insured credit union. Check out my *fixed!* Ultimate Rate-Chaser Calculator to see how much extra interest you could earn from switching. Rates listed are available to everyone nationwide. Rates checked as of 3/8/26.

TL;DR: Savings account interest rates dropped slightly on average overall. You can still get 4.6% if you accept certain hoops/restrictions, but most are under 4% now. Short-term T-Bill rates were flat at ~3.6%. Top 5-year CD rates are ~4% APY, while 5-year Treasury rate is ~3.7%.

High-yield savings accounts*
Since the huge megabanks still pay essentially zero interest, everyone should at least have a separate, no-fee online savings account to piggy-back onto your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates and solid user experience. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • The top saving rate at the moment: Pibank at 4.60% APY (no min), but they have some weird restrictions; like you can only use wire/Plaid to deposit and wire transfers to withdraw funds?! CineFi (no min) dropped a bit to 4.25% APY, a division of First Entertainment Credit Union. OnPath FCU also dropped to 4.25% APY with $25,000 minimum balance. CIT Platinum Savings held at 3.75% APY with $5,000+ balance. There are many banks in between.
  • SoFi Bank is at 3.30% APY (new customers can get up to 4.00% APY for 6 months + $325 bonus with qualifying direct deposit. You must maintain a direct deposit of any amount (even $1) each month for the higher ongoing APY. SoFi has historically competitive rates and full banking features.
  • Here is a limited survey of high-yield savings accounts. They aren’t the top rates, but a group that have historically kept it relatively competitive such that I like to track their history. This month they start at 3.30% APY on up.

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

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. Marcus has a 13-month No Penalty CD at 3.95% APY ($500 minimum deposit). Farmer’s Insurance FCU has a 9-month No Penalty CD at 4.00% APY ($1,000 minimum deposit). USALLIANCE Financial CU has a 11-month No Penalty CD at 3.90% APY ($500 minimum deposit). CIT Bank has a 11-month No Penalty CD at 3.75% APY ($1,000 minimum deposit).
  • USALLIANCE Financial CU has a 12-month CD at 4.05% APY ($500 minimum deposit). Early withdrawal penalty is 180 days of interest.
  • Farmer’s Insurance FCU has a 12-month CD at 4.00% APY with new money required. $1,000 minimum to open. Early withdrawal penalty is 90 days of interest.

Money market mutual funds
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). Note: Money market mutual funds are highly-regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms.

  • Vanguard Federal Money Market Fund (VMFXX) is the default sweep option for Vanguard brokerage accounts, which has a 7-day SEC yield of 3.59% (changes daily, but also works out to a compound yield of 3.65%, which is better for comparing against APY). Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • Vanguard Treasury Money Market Fund (VUSXX) is an alternative money market fund which you must manually purchase, but the interest will be mostly (100% for 2025 tax year) exempt from state and local income taxes because it comes from qualifying US government obligations. Current 7-day SEC yield of 3.62% (compound yield of 3.68%).

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks and are fully backed by the US government. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes, which can make a significant difference in your effective yield.

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 3/6/26, a new 4-week T-Bill had the equivalent of 3.70% annualized interest and a 52-week T-Bill had the equivalent of 3.54% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 3.54% 30-day SEC yield (0.09% expense ratio) and effective duration of 0.10 years. The Vanguard 0-3 Month Treasury Bill ETF (VBIL) has a 3.54% 30-day SEC yield (0.06% expense ratio) and effective duration of 0.10 years.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov.

  • “I Bonds” bought between November 2025 and April 2026 will earn a 4.03% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More on Savings Bonds here.
  • In mid-April 2026, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will post another update at that time.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • La Capitol Federal Credit Union pays 6.50% APY on up to $10,000 if you make 15 debit card purchases of at least $5 each per statement cycle. Anyone can join this credit union via partner organization, Louisiana Association for Personal Financial Achievement ($20).
  • OnPath Federal Credit Union (my review) pays 6.00% APY on up to $10,000 if you make 15 debit card purchases, opt into online statements, and login to online or mobile banking once per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization. You can also get a $150 Visa Reward card when you open a new account and make qualifying transactions.
  • Genisys Credit Union pays 6.75% APY on up to $7,500 if you make 10 debit card purchases of $5+ each per statement cycle, and opt into online statements. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Oklahoma Central Credit Union pays 6.00% APY on up to $10,000 if you make 15 debit card purchases (non-ATM) per statement cycle. Anyone can join this credit union if they are “affiliated with another credit union”.
  • First Southern Bank pays 5.50% APY on up to $25,000 if you make at least 15 debit card purchases, 1 ACH credit or payment transaction, and enroll in online statements.
  • Credit Union of New Jersey pays 6.00% APY on up to $25,000 if you make 12 debit card purchases, opt into online statements, and make at least 1 direct deposit, online bill payment, or automatic payment (ACH) per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Andrews Federal Credit Union pays 5.25% APY (decreased) on up to $25,000 if you make 15 debit card purchases, opt into online statements, and make at least 1 direct deposit or ACH transaction per statement cycle. Anyone can join this credit union via partner organization.
  • Capitol Credit Union pays 6.00% APY on up to $15,000 if you make 12 debit card purchases, opt into online statements, and make at least 1 direct deposit or ACH transaction per statement cycle. Anyone can join this credit union via partner organization ($5 to Wild Basin Wilderness).
  • Find a locally-restricted rewards checking account at DepositAccounts.

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

  • United Fidelity Bank has a 5-year certificate at 4.15% APY ($1,000 minimum), 4-year at 4.10% APY, 3-year at 4.10% APY, 2-year at 4.10% APY, and 1.5-year at 4.05% APY. Early withdrawal penalties are not disclosed clearly online.
  • Advancial Federal Credit Union has has a 5-year certificates at 3.97%/4.07%/4.18% APY APY based on either a $1,000/$25,000/$50,000 opening balance. Early withdrawal penalty for the 5-year is 365 days of interest. Anyone nationwide should be able to join via membership with partner organization US Dog Agility Association, but I would call to verify first.
  • Mountain America Credit Union (MACU) has a 5-year certificate at 4.00% APY ($500 minimum), 4-year at 4.00% APY, 3-year at 4.05% APY, 2-year at 4.20% APY, and 1-year at 3.80% APY. Early withdrawal penalty for the 4-year and 5-year is 365 days of interest. Anyone can join this credit union via partner organization American Consumer Council (use promo code “consumer” when joining).
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Right now, I see a 5-year non-callable brokered CD at 3.90% APY (callable: no, call protection: yes). Be warned that both Vanguard and Fidelity will list higher rates from callable CDs, which importantly means they can (and will!) call back your CD if rates drop significantly later.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk (tbh, I don’t use them at all), but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CDs at 4.05% APY (non-callable) vs. 4.12% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.

All rates were checked as of 3/8/26.

* I no longer recommend fintech companies due to the possibility of significant loss due to poor recordkeeping and the lack of government protection in such scenarios. The point of cash is absolute safety of principal.

Photo by Giorgio Trovato on Unsplash

Filed Under: Banking, Deals & Offers, Investing // Tagged:

PSECU $300 New Checking Account Bonus (Updated 2026)

Posted on February 19, 2026 // 13 Comments

Updated with 2026 promo details. Pennsylvania State Employees Credit Union (PSECU) has a $300 new checking account bonus. That is also my referral link as I successfully did a similar $300 deal previously. PSECU is a digital-first credit union with a very open membership. If you don’t satisfy the available free options, anyone can join with $10:

Don’t meet any of the criteria above? No problem! You can still become eligible for PSECU membership by joining the Pennsylvania Recreation and Park Society (PRPS).

PRPS is a statewide association providing education, advocacy, and resources for those working and volunteering to manage Pennsylvania’s 6,000+ local parks. Park and recreation departments provide safe and affordable recreation opportunities, creating stronger and more inclusive communities.

PRPS membership dues are $20, but we cover $10 when you select to join PRPS during our application process.

There may also be a required $5 initial deposit into a share savings account. I also experienced a hard credit check on Experian when I joined over a year ago, but more recent reports are that they have switched to a soft pull. Here are the details on the bonus requirements:

$300 Checking Bonus Requirements

  • Enter your email address into the referral link. Make sure this email address matches the one on your application.
  • Complete your application with promo code 2026REFER (should be automatically applied) and be approved for at least one savings and one checking account with debit card.
  • Sign up and log into digital banking (online or mobile).
  • Set up and receive 2 Qualifying Payroll Direct Deposit(s), each of $500 or more, into either the new savings or checking accounts.
  • Above must be completed within 100 days of establishing your membership.

My application process went smoothly and similar to other credit unions. I did have to upload a scan of the front and back of my driver’s license to help verify my identity (which is a good thing in my opinion) as well as answer some identity verification questions based on my credit report. The application took a couple days to process but I was able to get my account information and online access without any phone call or physical paperwork required. I did have to call them briefly to get my checking account number (didn’t want to wait on the free checks to arrive) in order to set up my direct deposit. My bonus arrived without issue and as promised.

One bonus per tax ID, so a couple could each open their own PSECU accounts and get $300 each even if they live in the same household.

PSECU occasionally has some decent CD rates, and they have a 2% cash back credit card with no annual fee if you maintain a checking account with direct deposit.

Greenlight perk. Another useful perk of PSECU for those with kids and teens is they include a free Greenlight subscription, which is a popular reloadable debit card service for kids. This is usually $5 a month ($60 a year). Here’s my Greenlight Kids Debit Card review.

More fine print, saved for future reference:

* $300 New Member Bonus Terms and Conditions. From 1.1.26 to 12.31.26, PSECU is running a new member incentive bonus. To be eligible to receive $300, new members must apply for membership using the promotional code and satisfy each of the requirements listed below. Your membership application must be started between 1.1.26 and 12.31.26 to be eligible to participate in this bonus offer. Applications started before 1.1.26 or after 12.31.26 will be disqualified from participation in the promotion. After the first 100 days from the date membership is established, PSECU will assess whether all promotional requirements have been met. If eligible, bonus processing may take up to an additional 45 days. Therefore, if all conditions are satisfied, the $300 bonus can be deposited into your Regular savings share within 145 days of the membership establishment date. PSECU reserves the right to extend processing time if requirements are not met or if additional verification is needed. This promotion is limited to individuals who are either a U.S. Citizen or permanent resident alien residing in the U.S. who are 18 years of age or older at the time membership is established. Eligibility is determined based on the applicant’s status as of the date of membership establishment, and no exceptions will be made. Limit one (1) new member $300 New Member Bonus per tax identification number used to open a new PSECU account. Joint owners listed on accounts are not eligible to be rewarded for this bonus unless they open their own account. You will not be eligible for the $300 New Member Bonus if you are a current PSECU member or have closed an account within the past 12 months. You are not eligible to receive this bonus if you ever received any new member incentive bonus from PSECU for opening a new account, regardless of when the prior bonus was awarded. This restriction applies to all prior new member promotional offers and is not subject to exception. Members who open accounts and/or loans by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information, are not eligible to participate in this bonus offer. PSECU may adjust the deposited bonus or remove the deposited bonus at any time if PSECU suspects accounts and/or loans were opened by fraudulent, suspicious, or illegal means, including but not limited to providing PSECU with fraudulent or fabricated information. A minimum share deposit of $5 is required to open and maintain a Regular savings share account. The $5 share deposit is also a mandatory condition for eligibility to receive the $300 New Member Bonus, and the member must be in good standing as defined by PSECU’s Bylaws Article II, Section 1. A $5 minimum share purchase will be made on behalf of the new member by PSECU. The Annual Percentage Yield on PSECU’s Regular savings share account is 0.25%. This variable rate is current as of 12.1.2025 and may change. Withdrawals and fees may reduce earnings on the account. The recipient of the bonus ($300) is solely responsible for payment of applicable taxes on that amount. If you have any questions, please seek the advice of a qualified tax professional. The decision to award a portion or total bonus is solely within PSECU’s discretion, and all decisions made by PSECU shall be final. PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations.

Filed Under: Banking, Deals & Offers //

OKX Crypto: $200 Referral Bonus + 4% Deposit Bonus + 3.5% APY on USDG + AirDrops

Posted on February 19, 2026 // 22 Comments

Updated with lower USDG earn rate and lower 4% deposit bonus. Also, check if any of your past bonuses are unlocked. Crypto exchange OKX is currently offering a few different bonuses which may be stackable. Details below.

  1. New customers: $200 referral bonus Should auto-populate the promo code 79795662. That’s mine, thanks if you use it. Details below.
  2. New and existing customers: 4% Deposit Match for all deposits of at least $10 (max $2,000 on $50,000 deposit). 24 week hold period to get full deposit match, paid out every 14 days. Details below.
  3. New and existing customers: 3.5% APY on USDG (stablecoin)
  4. New and existing customers: Free crypto via X Drops Club. Must maintain a $1,000+ portfolio of crypto (cash, USDC, USDT and USDG stablecoin does not count). BTC, ETH do count. You must also “join” each airdrop before the window closes. More details here and here.

1. $200 New customer bonus details. For new OKX customers:

  • Sign up via special referral link. I think they allow either smartphone or browser sign-up, but identity verification may be easier on a smartphone. That’s my referral link, which should auto-populate with the promo code 79795662. Thanks if you use it!
  • Complete identity verification (driver’s license and smartphone selfie).
  • $200 BTC Bonus if you deposit $200+ of either cash (link bank account via Plaid) or crypto within 30 days, trade that $200 or more of crypto (can purchase stablecoin like USDG), and hold the assets for at least 30 days within a 90-day period. After 90 days, the bonus will be tradable and withdrawable.
  • Stablecoins such as USDG, USDT, and USDC qualify for deposit, trading volume, and AUM holding requirements.

2. 4% Deposit Match

  • OKX is running a 4% bonus match on new deposits (minimum $10 and maximum $50,000). You must hold for 24 weeks to get the full 4%, but it is paid out gradually every 14 days (2 weeks). You still keep liquidity and can withdraw your deposits at any time, but you lose the match.
  • Must opt in *first* by March 23rd, 2026, and then make the deposit. Look for this offer in app.
  • Full terms.

3. OKX is also paying 3.5% APY on USDG deposits currently. This dropped from 5% on 3/2/26. USDG stablecoin is not FDIC-insured. They claim to be fully backed by US Treasury Bills with monthly audits and regulated by Singapore, but I still plan to withdraw my USDG out into a real FDIC-insured bank as soon as the holding period is over. This is a short-term play for me; I’m in for the stacking bonus duration and then I’m out.

4. X Drops Club is a recurring rewards program with automatic daily drops that scale with a user’s eligible crypto balance. Must maintain $1,000+ in eligible crypto assets (excluding fiat, USDC, USDT, and USDG).

Please perform your own due diligence on crypto apps. They are still not regulated on the same level as bank account or brokerage accounts. The bonuses are bigger, but there is added platform risk with crypto apps that are not FDIC or SIPC-insured. I don’t like to keep significant funds in there any longer than is required for the bonus to clear, and I only do short-term deals.

Here is the OKX Wikipedia page and they are profiled in the Forbes article “The World’s Most Trustworthy Crypto Exchanges”. (Also see: Kraken and Gemini bonuses.)

Note: OKX does not allow customers to be individuals residing in New York, Texas, American Samoa, Guam, the Northern Mariana Islands, and the US Virgin Islands.

Filed Under: Banking, Deals & Offers //

Bank of America Rewards: Higher Balance Requirements for Credit Card Boosts + New Monthly Credits (Coming May 2026)

Posted on February 18, 2026 // 10 Comments

(Update: BofA sent out a new e-mail that your existing members with a Preferred Rewards bonus on your credit card will be maintained at least until your annual BofA anniversary date following November 2026. So if your anniversary month is April, you’ll be good until April 2027. For new cardmembers, it starts May 2026. They also added the detail that the monthly debit card credits will apply to select “streaming and news subscription services”. )

Bank of America has a press release that their “Preferred Rewards” program is changing to “BofA Rewards” on May 27, 2026 (hat tip Bogleheads). Notable changes include the tier names, their required balances, and higher requirements for credit card rewards boosts. Here is a comparison of the old and new tiers.

Preferred Rewards Tiers (OLD; Current)

  • Gold – $20,000 to < $50,000 combined balance
  • Platinum – $50,000 to < $100,000 combined balance
  • Platinum Honors – $100,000 to < $1,000,000 combined balance
  • Diamond – $1,000,000 or more combined balance

BofA Rewards Tiers (NEW; Effective May 2026)

  • Member – Less than $30,000 combined balance
  • Preferred Plus – $30,000 to < $100,000 combined balance
  • Preferred Honors – $100,000 to < $1,000,000 combined balance
  • Premier – $1,000,000 or more combined balance

Combined balances refers to the three-month average account balance across qualifying Bank of America and Merrill accounts. Qualifying accounts include:

  • Bank of America deposit accounts: Bank of America Advantage Banking, savings, money market savings, CD and IRA accounts
  • Merrill® investment accounts, such as the Cash Management Account (CMA) and IRA accounts
  • 529 plans appearing on your Merrill statement
  • Revocable grantor trust accounts

The big negative change is that you now need the Premier ($1,000,000+) tier to get the maximum 75% boost in credit card rewards. That’s a huge 10X increase in the balance required.

New BofA Rewards Tiers x Credit Card Rewards Boosts

  • Member – Credit card rewards boost: 10%
  • Preferred Plus ($30k+) – Credit card rewards boost: 25%
  • Preferred Honors ($100k+) – Credit card rewards boost: 50%
  • Premier ($1M+) – Credit card rewards boost: 75%

Many people have moved over stock holdings to a self-directed brokerage account at Merrill Edge in order to qualify for some of these rewards. Going from a 75% boost to 50% boost may mean going from 2.6% cash back on everything to 2.25% cash back, unless your combined balances meet the $1 million mark. A disappointing change.

A possible positive offset are new monthly credits on the higher tiers if you make certain purchases on your BofA debit card linked to your BofA checking account.

New BofA Rewards Tiers x Monthly Debit Card Credits

  • Member – No subscription credits
  • Preferred Plus ($30k+) – No subscription credits
  • Preferred Honors ($100k+) – Up to $8 per month in statement credits for “several pre-determined subscription services” (up to $96/year).
  • Premier ($1M+) – Up to $15 per month in statement credits for “several pre-determined subscription services” (up to $180/year).

BofA has not announced the eligible subscriptions yet, but hopefully it is a flexible category. This will be an important detail, and it could offset a big part of lost cashback rewards for those with lower credit card spending.

Current Preferred Rewards members will be automatically enrolled in BofA Rewards. The terms state that current Gold and Platinum tier members will initially be changed to the Preferred Plus tier, even with the new balance mismatches.

Filed Under: Banking, Credit Cards, Deals & Offers //

MMB Ultimate Interest Rate Chaser Calculator (Fixed/Updated 2026)

Posted on February 16, 2026 // 37 Comments

😎 First made 20 years ago, last updated in 2026! Zero AI used! 😜

Thinking about moving your cash to a different bank account with a higher interest rate? Each month, I research the high interest rates available on cash. Big banks and corporates earn billions of dollars on your idle cash when it earns you nothing.

For example, you might have $10,000 in a savings account earning 3.00% APY and you want to know if it’s worth moving to one earning 4.00% APY. Use this handy calculator to find out how much more money you could earn by switching, which you then can weigh against the time and effort required.

My Money Blog Ultimate Rate Chaser Calculator

How much money are you going to move? (no commas) $
Enter the current interest rate (APY):   %
Enter the new interest rate (APY):   %
How many days of lost interest will you have? (Usually 0-3 business days)   day(s)
The approximate number of days you must keep your money at the new rate to break even money-wise is:   days
Assuming the rate difference remains the same,
in 1 month you’ll have earned an extra (estimated):		   
After 6 months, you’ll have earned an extra (estimated):   

Notes

  1. This calculator is based on a rate-chasing breakeven time formula developed here a long, long, long time ago (2006!) which takes into account the “days of lost interest”, or the time in between transfers where the money is not earning interest in either account.
  2. The formula actually uses APR, not APY. APY takes into account compounding frequency. The overwhelming majority of online savings accounts compound interest daily. I also made a APY to APR calculator. Nowadays, I just assume daily compounding so that you can just input the APY instead of having to convert. A small minority of savings accounts do compound monthly, but most of those are the megabanks paying you 0.01% APY anyway.
  3. Usually, there can be between 0-3 days of lost interest when going from one bank to another. This depends on the policies of either bank and also which bank initiates the transfer. (It also may depend on if you straddle a weekend with the money earning no interest.) This value can significantly affect the break-even time when the difference is small.
  4. The 6-month value (182 days) isn’t simply 6 times the 1-month value (30 days), as the calculator takes into account the time needed first to “break-even”.
  5. Another factor to consider is how likely the current rate difference will persist. Interest rates on savings accounts can change at any time, whereas certificates offer a fixed rate over the guaranteed period.

Last updated 2/16/26.

Filed Under: Banking, Tools & Calculators //

Best Interest Rates Survey: Bank Accounts, Treasury Bills, Money Markets, ETFs – February 2026

Posted on February 11, 2026 // 1 Comment

Here’s my monthly survey of the best interest rates on cash as of February 2026, roughly sorted from shortest to longest maturities. Banks and brokerages love taking advantage of idle cash, and you can often earn more interest while keeping the same level of safety by moving to another FDIC-insured bank or NCUA-insured credit union. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you could earn from switching. Rates listed are available to everyone nationwide. Rates checked as of 2/11/26.

TL;DR: Savings account interest rates are mostly unchanged from last month. You can still get 4.6% if you accept certain hoops/restrictions, but most are under 4% now. Short-term T-Bill rates have fallen, now ~3.6%. Top 5-year CD rates are ~4% APY, while 5-year Treasury rate is ~3.7%.

High-yield savings accounts*
Since the huge megabanks still pay essentially zero interest, everyone should at least have a separate, no-fee online savings account to piggy-back onto your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates and solid user experience. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • The top saving rate at the moment: Pibank at 4.60% APY (no min), but they have some weird restrictions; like you can only use wire/Plaid to deposit and wire transfers to withdraw funds?! CineFi (no min) is new at 4.50% APY, a division of First Entertainment Credit Union. OnPath FCU is at 4.40% APY with $25,000 minimum balance. CIT Platinum Savings is now at 3.75% APY with $5,000+ balance. There are many banks in between.
  • SoFi Bank is at 3.30% APY (new customers can get up to 4.00% APY for 6 months + $325 bonus with qualifying direct deposit. You must maintain a direct deposit of any amount (even $1) each month for the higher ongoing APY. SoFi has historically competitive rates and full banking features.
  • Here is a limited survey of high-yield savings accounts. They aren’t the top rates, but a group that have historically kept it relatively competitive such that I like to track their history. This month they start at 3.30% APY on up.

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

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. Marcus has a 13-month No Penalty CD at 3.95% APY ($500 minimum deposit). Farmer’s Insurance FCU has a 9-month No Penalty CD at 4.00% APY ($1,000 minimum deposit). USALLIANCE Financial CU has a 11-month No Penalty CD at 3.90% APY ($500 minimum deposit). CIT Bank has a 11-month No Penalty CD at 3.75% APY ($1,000 minimum deposit).
  • Genisys CU has a 13-month certificate at 4.16% APY ($500 min). Early withdrawal penalty is a clearly-disclosed 90 days of interest (many places hide this info now). Anyone can join this credit union via partner organization Arthritis Foundation or Paint Creek Center for the Arts (one-time $5 fee).
  • Farmer’s Insurance FCU has a 12-month CD at 4.25% APY with new money required. $1,000 minimum to open. Early withdrawal penalty is 90 days of interest.

Money market mutual funds
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). Note: Money market mutual funds are highly-regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms.

  • Vanguard Federal Money Market Fund (VMFXX) is the default sweep option for Vanguard brokerage accounts, which has a 7-day SEC yield of 3.59% (changes daily, but also works out to a compound yield of 3.65%, which is better for comparing against APY). Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • Vanguard Treasury Money Market Fund (VUSXX) is an alternative money market fund which you must manually purchase, but the interest will be mostly (100% for 2025 tax year) exempt from state and local income taxes because it comes from qualifying US government obligations. Current 7-day SEC yield of 3.64% (compound yield of 3.70%).

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks and are fully backed by the US government. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes, which can make a significant difference in your effective yield.

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 2/11/26, a new 4-week T-Bill had the equivalent of 3.69% annualized interest and a 52-week T-Bill had the equivalent of 3.47% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 3.55% 30-day SEC yield (0.09% expense ratio) and effective duration of 0.10 years. The Vanguard 0-3 Month Treasury Bill ETF (VBIL) has a 3.55% 30-day SEC yield (0.06% expense ratio) and effective duration of 0.10 years.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov.

  • “I Bonds” bought between November 2025 and April 2026 will earn a 4.03% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More on Savings Bonds here.
  • In mid-April 2026, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will post another update at that time.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • La Capitol Federal Credit Union pays 6.50% APY on up to $10,000 if you make 15 debit card purchases of at least $5 each per statement cycle. Anyone can join this credit union via partner organization, Louisiana Association for Personal Financial Achievement ($20).
  • OnPath Federal Credit Union (my review) pays 6.00% APY on up to $10,000 if you make 15 debit card purchases, opt into online statements, and login to online or mobile banking once per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization. You can also get a $150 Visa Reward card when you open a new account and make qualifying transactions.
  • Genisys Credit Union pays 6.75% APY on up to $7,500 if you make 10 debit card purchases of $5+ each per statement cycle, and opt into online statements. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Oklahoma Central Credit Union pays 6.00% APY on up to $10,000 if you make 15 debit card purchases (non-ATM) per statement cycle. Anyone can join this credit union if they are “affiliated with another credit union”.
  • First Southern Bank pays 5.50% APY on up to $25,000 if you make at least 15 debit card purchases, 1 ACH credit or payment transaction, and enroll in online statements.
  • Credit Union of New Jersey pays 6.00% APY on up to $25,000 if you make 12 debit card purchases, opt into online statements, and make at least 1 direct deposit, online bill payment, or automatic payment (ACH) per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Andrews Federal Credit Union pays 5.25% APY (decreased) on up to $25,000 if you make 15 debit card purchases, opt into online statements, and make at least 1 direct deposit or ACH transaction per statement cycle. Anyone can join this credit union via partner organization.
  • Capitol Credit Union pays 6.00% APY on up to $15,000 if you make 12 debit card purchases, opt into online statements, and make at least 1 direct deposit or ACH transaction per statement cycle. Anyone can join this credit union via partner organization ($5 to Wild Basin Wilderness).
  • Find a locally-restricted rewards checking account at DepositAccounts.

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

  • United Fidelity Bank has a 5-year certificate at 4.15% APY ($1,000 minimum), 4-year at 4.10% APY, 3-year at 4.10% APY, 2-year at 4.15% APY, and 1.5-year at 4.05% APY. Early withdrawal penalties are not disclosed clearly online.
  • Mountain America Credit Union (MACU) has a 5-year certificate at 4.00% APY ($500 minimum), 4-year at 4.00% APY, 3-year at 4.05% APY, 2-year at 4.20% APY, and 1-year at 3.80% APY. Early withdrawal penalty for the 4-year and 5-year is 365 days of interest. Anyone can join this credit union via partner organization American Consumer Council (use promo code “consumer” when joining).
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Right now, I see a 5-year non-callable brokered CD at 3.95% APY (callable: no, call protection: yes). Be warned that both Vanguard and Fidelity will list higher rates from callable CDs, which importantly means they can (and will!) call back your CD if rates drop significantly later.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk (tbh, I don’t use them at all), but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CDs at [none available] (non-callable) vs. 4.16% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.

All rates were checked as of 2/11/26.

* I no longer recommend fintech companies due to the possibility of significant loss due to poor recordkeeping and the lack of government protection in such scenarios. The point of cash is absolute safety of principal.

Photo by Giorgio Trovato on Unsplash

Filed Under: Banking, Deals & Offers, Investing // Tagged:

Vanguard Money Market & Target Retirement Funds: Claim Your State Income Tax Exemption (Updated 2026)

Posted on February 4, 2026 // 45 Comments

Updated for 2026. Tax time is here again, and if you earned interest from a money market fund, a significant portion of this interest may have come from “US Government Obligations” like Treasury bills and bonds, which are generally exempt from state and local income taxes. However, in order to claim this exemption, you’ll likely have to manually enter it on your tax return after digging up a few extra details.

(Note: California, Connecticut, and New York exempt dividend income only when the mutual fund has met certain minimum investments in U.S. government securities. They require that 50% of a mutual fund’s assets at each quarter-end within the tax year consist of U.S. government obligations.)

Vanguard has recently released the U.S. government obligations income information for Tax Year 2025 [pdf] for all their funds, which states:

This tax update provides information to help clients properly report state and local tax liability on ordinary income distributions received from mutual fund investments in 2025.

On the next page, you’ll find a list of Vanguard funds that earned a portion of their ordinary dividends from
obligations of the U.S. government. Direct U.S. government obligations and certain U.S. government agency
obligations are generally exempt from taxation in most states.1

To find the portion of Vanguard dividends that may be exempt from your state income tax, multiply the amount of “ordinary dividends” reported in Box 1a of your Form 1099-DIV by the percentage listed in the PDF. Note that on the IRS Form 1099-INT, there is a special Line 3 that includes “Interest on US Savings Bonds & Treasury obligations”. However, for the Vanguard funds, they report on 1099-DIV and not 1099-INT. My Vanguard 1099-INT was all zeros.

For the default cash sweep Vanguard Federal Money Market Fund (VMFXX), this percentage was 66.61% in 2025. (For reference, it was 59.87% in 2024 and 49.37% in 2023.) Therefore, if you earned $1,000 in total interest from VMFXX in 2025, then $666.10 could possibly be exempt from state and local income taxes. If your marginal state income tax rate was 10% that would be a ~$67 tax savings for every $1,000 in total interest earned. For 2025, this fund DID meet the threshold requirements for California, Connecticut, and New York, which require that 50% of the fund’s assets at each quarter-end within the tax year consist of U.S. government obligations.

In comparison, the Vanguard Treasury Money Market Fund (VUSXX) had a GOI percentage of 100% in 2025. (For reference, it was 100% on 2024 and 80.06% in 2023.) If your marginal state income tax rate was 10% that would be a $100 tax savings for every $1,000 in total interest earned.

The total income return for Vanguard Federal Money Market Fund (VMFXX) was 4.22% and Vanguard Treasury Money Market Fund (VUSXX) was 4.23% over the 12-month period of 2025, meaning the pre-tax return was basically the same. This is why many people chose to manually buy VUSXX instead of the default settlement fund as it can earn you a higher after-tax interest rate.

(Why doesn’t Vanguard let you use VUSXX as your cash sweep? Most likely due to the many inflow and outflows of a cash sweep, those liquidity concerns make it hard to hold everything in Treasury bonds. I’m guessing that repurchase agreements are more liquid.)

The following Vanguard funds and ETF equivalents have 100% of their interest from US government obligations:

  • 0-3 Month Treasury Bill ETF (VBIL)
  • Ultra-Short Treasury ETF (VGUS)
  • Short-Term Treasury Index Fund (VGSH, VSBSX)
  • Intermediate-Term Treasury Index Fund (VGIT, VSIGX)
  • Long-Term Treasury Index Fund (VGLT, VLGSX)
  • Extended Duration Treasury Index Fund (EDV)
  • Short-Term Inflation-Protected Securities
    Index Fund (VTIP, VTAPX)
  • Inflation-Protected Securities Fund (VIPSX, VAIPX)

Note that several other Vanguard funds have a lower but nonzero percentage of dividends from US government obligations, including the popular Vanguard Target Retirement 20XX funds (up to 33-34% for Target Retirement 2020 and Target Retirement Income!). Definitely worth a closer look for residents with high state/local income tax rates, especially those closer to retirement (holds more bonds).

To obtain these tax savings, you’ll have to manually adjust your state/local income tax return. I don’t believe that TurboTax, H&R Block, and other tax software will do this automatically for you, as they won’t have the required information on their own. (I’m also not sure if they ask about it in their interview process. You may need to click on certain spot.) If you use an accountant, you should also double-check to make sure they use this information. Here is some information on how to enter this into TurboTax:

  • When you are entering the 1099-DIV Box 1a, 1b, and 2a – click the “My form has info in other boxes (this is uncommon)” checkbox.
  • Next, click on the option “A portion of these dividends is U.S. Government interest.”
  • On the next screen enter the Government interest amount. This will be subtracted from your state return.

Standard disclosure: Check with your state or local tax office or with your tax advisor to determine whether your state allows you to exclude some or all of the income you earn from mutual funds that invest in U.S. government obligations.

[Image credit – Tax Foundation]

Filed Under: Banking, Investing, Taxes //

Fidelity Money Market Funds: Claim Your State Income Tax Exemption (Updated 2026)

Posted on February 2, 2026 // 26 Comments

Updated for 2026. As the brokerage 1099 forms for the 2025 Tax Year are coming out, here is a quick reminder for those subject to state and/or local income taxes. If you earned interest from a money market fund, a significant portion of this interest may have come from “US Government Obligations” like Treasury bills and bonds, which are generally exempt from state and local income taxes. However, in order to claim this exemption, you’ll likely have to manually enter it on your tax return after digging up a few extra details.

(Note: California, Connecticut, and New York exempt dividend income only when the mutual fund has met certain minimum investments in U.S. government securities. They require that 50% of a mutual fund’s assets at each quarter-end within the tax year consist of U.S. government obligations.)

Fidelity has released 2025 Percentage of Income from U.S. Government Securities [pdf]. Here are the results for the most popular core Fidelity money market funds:

  • Fidelity® Treasury Only Money Market Fund (FDLXX, CUSIP 31617H300) – 98.67%.
  • Fidelity® Government Money Market Fund (SPAXX, CUSIP 31617H102) – 50.90%. *Did not meet the minimum investment in U.S. Government securities required to exempt the distribution from tax in California, Connecticut, and New York.
  • Fidelity® Government Cash Reserves (FDRXX, CUSIP 316067107) – 52.17%. *Did not meet the minimum investment in U.S. Government securities required to exempt the distribution from tax in California, Connecticut, and New York.
  • Fidelity® Treasury Money Market Fund* (FZFXX, CUSIP 316341304) – 61.52%. *Did not meet the minimum investment in U.S. Government securities required to exempt the distribution from tax in California, Connecticut, and New York.

It is disappointing that SPAXX as a default cash sweep did not meet the requirements to exempt any of their interest from state income tax in California, Connecticut, and New York. They must have missed the 50% minimum cut-off in one of the four quarters of 2025.

This is why I mostly own FDLXX as my “pseudo-core” money market fund via automated recurring purchases. For more information on this “hack”, see my post Fidelity Treasury Only Money Market (FDLXX) as Fidelity Core Position Workaround.

To find the portion of Fidelity dividends that may be exempt from your state income tax, multiply the amount of “ordinary dividends” reported in Box 1a of your Form 1099-DIV by the percentage listed in the PDF. For example, if you earned $1,000 in total interest from Fidelity Treasury Only Money Market Fund (FDLXX) in 2025, then $986.70 could possibly be exempt from state and local income taxes. If your marginal state income tax rate was 10% that would be a ~$99 tax savings for every $1,000 in total interest earned.

On a net after-tax basis, folks with a ~10% state income tax rate will likely find that FDLXX earns more interest than the default core holdings of SPAXX/FZFXX, even though the gross yield of SPAXX/FZFXX is higher than that of FDLXX.

To obtain these tax savings, you’ll have to manually adjust your state/local income tax return. I don’t believe that TurboTax, H&R Block, and other tax software will do this automatically for you, as they won’t have the required information on their own. (I’m also not sure if they ask about it in their interview process.) If you use an accountant, you should also double-check to make sure they use this information. Here is some information on how to enter this into a previous version of TurboTax:

  • When you are entering the 1099-DIV Box 1a, 1b, and 2a – click the “My form has info in other boxes (this is uncommon)” checkbox.
  • Next, click on the option “A portion of these dividends is U.S. Government interest.”
  • On the next screen enter the Government interest amount. This will be subtracted from your state return.

Standard disclosure: Check with your state or local tax office or with your tax advisor to determine whether your state allows you to exclude some or all of the income you earn from mutual funds that invest in U.S. government obligations.

[Image credit – Tax Foundation]

Filed Under: Banking, Deals & Offers, Investing, Taxes //

Marcus Bank: $100 to $1,500 Deposit Bonus (New and Existing Customers)

Posted on January 30, 2026 // 18 Comments

Updated offer for 2026. May sure you enroll first! Marcus by Goldman Sachs is offering a up to a $1,500 deposit bonus (starting at $100 bonus on $10,000 in new funds) into their online savings account within 10 calendar days of enrollment at this special offer page. Valid for both new and existing customers. You must enroll first by 3/11/26 and maintain the new funds for 90 days (after the end of the 10-day funding period, so possibly up to 100 days total). You then get the bonus after another 14 days. No offer or promo code required. They have done a similar promotion in past years (and it’s nice that you can keep doing it). Here are the tiers:

After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the “Funding Period”). The Account balance plus a minimum of $10,000 in new funds (the “Required Dollar Amount”) must be maintained in your Account for 90 consecutive days from the end of the Funding Period. The Account balance is based on the starting current balance reflected on your account at 12 am ET the day you enroll. Once the Funding Period has ended, your Account balance may not drop below the Required Dollar Amount at any point until after the 90 consecutive days have passed. You may make multiple deposits within the Funding Period to reach the Required Dollar Amount. Internal transfers do not count for purposes of this Offer.

Important disclosures: Enroll your Online Savings Account in the Offer, then deposit (within 10 calendar days of enrollment) and maintain at least $10,000 (for $100 bonus), $50,000 (for $750 bonus), or $100,000 (for $1,500 bonus) of New Funds, plus your balances in your enrolled account and across all Marcus accounts as of 6:00 pm ET on 1/27/26, for 90 days after the 10-day Funding Period. Withdrawals made by you or a joint owner while enrolled, including CD maturities to non-Marcus accounts or CD early withdrawals, may result in a lower bonus or losing eligibility, depending on your balances.

New customer referral offer. If you don’t have a Marcus account yet, if you open with a Marcus referral link from an existing customer, you will a small 0.25% bonus (it keeps shrinking!). That’s my referral link, thanks if you use it! I’d open and get the referral offer first, and then later enroll in this $100 offer as an existing customer.

Bonus math. Here’s how it works out for each tier:

  • $100 is a 1% bonus on $10,000 if you keep it there for 90 days, which makes it the equivalent of ~4% APY annualized.
  • $750 is a 1.5% bonus on $50,000 if you keep it there for 90 days, which makes it the equivalent of ~6% APY annualized.
  • $1,500 is a 1.5% bonus on $100,000 if you keep it there for 90 days, which makes it the equivalent of ~6% APY annualized.

The bonus is on top of the standard interest rate, currently 3.65% APY as of 1/29/2026. Compare with my latest update of best interest rates. I have gotten a similar Marcus bonus in the past with no issues. Make sure you enroll at the link above first before transferring in your new funds.

Filed Under: Banking, Deals & Offers //

American Express Rewards Checking: $250 Bonus w/ Direct Deposit

Posted on January 29, 2026 // 4 Comments

Offer is back, updated details, expires soon. American Express is again promoting their Rewards Checking Account with a new $250 direct deposit bonus. The bonus requirements are pretty straightforward:

  • Open your first American Express Rewards Checking Account in your name by 1/31/2026,
  • Receive a total of $5,000 or more of Qualifying Direct Deposit(s) within 90 days of account opening.
  • After you have completed the above qualifying criteria, American Express will deposit the Welcome Bonus into your Rewards Checking Account within 8-12 weeks.

This bonus is targeted for existing consumer credit cardholders, and possibly savings accountholders:

Who is eligible to apply for an American Express® Rewards Checking account?

Applying for an American Express Rewards Checking account can be completed in minutes. We are currently accepting applications from Card Members with a U.S. Basic Consumer Card issued by American Express National Bank (AENB) with at least 5 days tenure. We may also accept applications from Additional Card Members on a U.S. Basic Consumer Card issued by AENB, Customers with an existing High Yield Savings Account and CD with at least 5 days of tenure who are not existing US Basic Card Members.

Submitted applications will be reviewed promptly with decisions that can be provided within minutes.

If you log into your personal credit card account, the application is mostly auto-filled and just takes a few clicks. There is no hard credit check.

Here are some quick highlights about the Rewards Checking account:

  • No monthly fees, and no minimum balance requirements.
  • 1.00% APY (as of 1/29/26)
  • Earn 1 Membership Rewards® point for every $2 of eligible Debit Card purchases. You can combine these points for redemption using your other AmEx cards.
  • Unlimited fee-free ATM withdrawals at over 37,000 MoneyPass® ATM locations nationwide.
  • Mobile check deposit is available.
  • Free paper checks are not included, but you can purchase them at additional cost.

From the full terms and conditions:

A Qualifying Direct Deposit is a single ACH transfer from an employer or the government for a paycheck, pension, government benefit (such as Social Security), or tax refund. Qualifying Direct Deposit(s) totaling at least $5,000 or more are required to qualify for this offer. The following are not Qualifying Direct Deposits: person to person transfers (P2P) such as money transfer apps, deposit account to deposit account transfers (for example, from a checking account to another checking account or from a savings account to a checking account), deposits or ACH transfers not from an employer or the government (for example, online transfers or bank transfers), internal transfers from your American Express® Savings account, deposits made via check, and Membership Rewards® points redemption for deposits.

Filed Under: Banking, Deals & Offers //
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