Citi Self Invest Brokerage: Up to $500 New Deposit or ACAT Transfer Bonus

Posted on August 22, 2022 // 1 Comment

Citi has started their own self-directed brokerage arm called Citi Self Invest, joining $0 commission bank competitors like Chase, BofA, and Wells Fargo. They are also running a promotion for existing Citi banking or credit card customers to gather new deposits and ACAT transfers, with the current bonus worth up to $500, depending the value of assets that you move over:

  • $100 with $10,000-$49,999 in qualifying new money
  • $200 with $50,000–$199,999 in qualifying new money
  • $500 with $200,000+ in qualifying new money

Here are the steps:

  1. Fund a new or existing Citi Self Invest Account between 3/1/22 and 10/31/22. You must also have an eligible individual Citibank checking or Savings account or an eligible Citi Card account with digital access through Citibank Online.
  2. Fund the Citi Self Invest Account with a minimum of $10,000 in New-To-Citi funds within the Account Funding Period shown below (see below for New-To-Citi funds).
  3. Maintain the New-To Citi funds in your Citi Self Invest account through the Maintain Funds deadline shown below based on month of account opening.
  4. During the account opening process, allow for eDelivery of statements and confirmations,

Here is the deadline calendar:

Here’s their terms on what “new to Citi” funds means:

New-to-Citi Funds are cash that must come from an external, non-Citi, source through a standard transfer method (e.g., a standard Transfer of Assets form, check, electronic funds transfer, ADM deposit). New-to-Citi Funds are: 1) funds deposited from external accounts or payees other than Citibank, N.A. and its affiliates and 2) must be deposited using domestic ACH transfer, Direct Deposit, checks drawn on banks other than Citibank, N.A. wire transfer, trustee to trustee transfer, or ACAT securities transfers.

Update: A rep for Citi reached out to me to say:

To clarify, the value of marketable securities like stocks and ETFS that are transferred via ACAT are included in the definition of “new to Citi funds” and are eligible for the bonus.

This is good news and makes it easier to satisfy the higher tier requirements if you already have a portfolio of ETFs or individuals stocks to move over.

Even if you move over cash, according to the calendar, your minimum holding period is as little as a month. For example, open in August, fund by 9/30, and hold until 10/31 to qualify. The $100 bonus on $10,000 is earning 1% in a month, or the equivalent of 12% APY when annualized. Unfortunately, you have to wait until 1/31/23 to get the bonus, but at least this is a no fee, no minimum balance, no commission brokerage account.

If you keep your cash in there for longer than the minimum of one month, you should also take into account the potential lost interest if you are only using their default cash sweep account. You might consider investing your funds into ultra-short bond ETFs like MINT or Treasury Bill ETFs like GBIL (still possible to lose value). I’m not sure if Citi Self Invest will let you buy Treasury bills directly.

Citi also has an alternative bonus for their Citi Personal Wealth Management account, with better bonus ratios for new deposits of $50,000 and up, and total bonuses worth up to $5,000. However, I’m not sure about the fee structure for the Personal Wealth Management accounts which involve a “dedicated Citi Personal Wealth Management Financial Advisor who can provide personalized planning and investment guidance” with a vague “pricing varies based on investments selected”. Seems like it might be more work if you don’t want their financial advice, but might be worth a phone call to the number in the link if you have $50,000+ as the minimum holding period is still one month.

Filed Under: Deals & Offers, Investing //

Robinhood New Account Deposit Bonus (Up to $600)

Posted on August 15, 2022 // 6 Comments

Robinhood brokerage app has up to a $600 bonus for new customers that deposit a certain amount of money. Here are the highlights:

  • New customers must sign up for Robinhood using the promotion page and get approved by August 17, 2022.
  • Link your bank account to your Robinhood brokerage account. (ACAT transfers also count.)
  • Deposit money into your account by September 16, 2022 and keep deposits in your account through October 16, 2022 to earn up to $600. You can earn $25 for depositing $1,000 – $9,999, $100 for $10,000 – $49,999, $300 for $50,000 – $99,999, or $600 for $100,000+.
  • Rewards will be delivered by October 21, 2022. If you receive a reward, you’ll have 30 days to claim it. Once claimed, you can use it to invest right away, but you can’t withdraw the cash value for 30 days.

See full terms.

This is a pretty good reward (if you have the cash) due to the short required holding period of just one month, plus the bonus is supposed to post within 5 days after the month is over.

Filed Under: Deals & Offers, Investing //

EFCU Financial Federal Credit Union 5-Year CD

Posted on August 14, 2022 // 8 Comments

Update: Rate has since dropped to 3.75% APY as of 8/16/22, and they have also stopped accepting application from people joining via a membership in the EFCU Financial Foundation or the Louisiana Wildlife Federation. Hope some folks got in that were interested. Thanks to reader Hugo for the heads up.

Original post:

EFCU Financial Federal Credit Union has some top certificate rates effective 8/11/22. NCUA-insured. Found via DepositAccounts. Here are the rate highlights:

  • Regular 60-month certificate 4.00% APY ($500 minimum)
  • Regular 60-month certificate 4.10% APY (Jumbo $100k minimum)
  • IRA 60-month certificate 4.10% APY ($500 minimum)
  • IRA 60-month certificate 4.20% APY (Jumbo $100k minimum)
  • Also available: 12-month, 18-month, and 24-month at 3.00% APY, 30-month CD at 3.25% with one-time rate bump allowed.

More details:

  • Early withdrawal penalty for 60-month certificate is 180 days of dividends.
  • Hard credit pull with a new membership application.
  • Must keep $5 minimum in Share Savings account as long as you are a credit union member.

Membership eligibility. Their eligibility criteria is open to anyone nationwide. Persons who live, work, worship, or attend school in these nine Louisiana Parishes can join for free: East Baton Rouge, West Baton Rouge, Ascension, East Feliciana, West Feliciana, Iberville, Livingston, Point Coupee, St. Helena. Anyone nationwide can join EFCU Financial with a membership in the EFCU Financial Foundation or the Louisiana Wildlife Federation. The cost is $35 for an annual membership.

Good deal? This is a very competitive CD rate for a 5-year CD, approximately 35 basis points higher than the next best rate. For comparison, as of 8/12/22, the 5-year Treasury bond rate is 2.97%. The hard credit pull and $35 entry fee make it better for high balances to make it worth the trouble.

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

As with past credit union certificate deals, I would still recommend acting fast if you are interested. It’s a good enough deal that it is quite possible that there will be enough new applications to overwhelm their limited staff (and deposit needs). You might pony up $35, start the application process, take the credit pull hit, and have the deal fall apart before you can fund the certificate. I’m not saying this will happen, but it is possible. Of course, it is also possible that this is only the start of multiple places offering 4% APY CDs.

Filed Under: Banking, Deals & Offers //

Vanguard Cash Deposit Program: New Cash Sweep Option (Currently Invitation Only)

Posted on August 11, 2022 // Leave a Comment

Vanguard has been gradually rolling out a new option for the cash settlement sweep in your Vanguard Brokerage Account. The Vanguard Cash Deposit is FDIC-insured via partner banks and is currently available to select customers on an invitation-only basis:

Currently, enrollment in the Vanguard Cash Deposit program is by invitation only to existing clients who have at least one Vanguard Brokerage Account. Mutual fund accounts, 529s, or other accounts are not eligible for Vanguard Cash Deposit.

Here is a quick comparison of the interest rates from the two available options:

Banking Partners (as of 8/10/2022)

  • Valley National Bank (FDIC cert. 9396)
  • NexBank (FDIC cert. 29209)
  • Synovus Bank (FDIC cert. 873)
  • Bank of Baroda (FDIC cert. 33681) (coming soon)
  • Synchrony Bank (FDIC cert. 27314) (coming soon)

Commentary. Vanguard’s existing cash sweep fund, the Vanguard Federal Money Market Fund (VMFXX), already invests “at least 99.5% of its total assets in cash, U.S. government securities, and/or repurchase agreements that are collateralized solely by U.S. government securities or cash (collectively, government securities).” In other words, everything inside is also fully backed by the US government. I am a big fan of FDIC insurance, but even I don’t lose any sleep at all about the safety of VMFXX, not to mention I’ve found VMFXX historically tracks short-term interest rates quite well. As of this writing (8/10/22), VMFXX is yielding about 35 basis points more than the Cash Deposit sweep.

I don’t know if this new cash sweep option is in response to consumer demand, or if it will serve as a profit source for Vanguard. I’m sure that some people out there will prefer having FDIC insurance, even it means less interest income. (Be sure not to exceed the FDIC limits at any of the partner banks, such as having separate account held there.) For now, I’ll pass. If the Cash Deposit sweep does start earning a lot more, I would consider switching.

If you wish to opt in to this option, you can try to check if you are “invited” by visiting the product page, clicking on “Choose Vanguard Cash Deposit”, and logging into your Vanguard brokerage account. I was also repeatedly greeted by a pop-up window upon login.

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

Facebook Internet Tracking Class Action Settlement ($90 Million, 2010-2011)

Posted on August 5, 2022 // 4 Comments

Facebook has proposed to settle a class action lawsuit alleging that they “improperly obtained and collected data from Facebook Users in the United States who visited non-Facebook websites that displayed the Facebook Like button between April 22, 2010 and September 26, 2011, inclusive.”

If this applies to you, first check your inbox (including spam folder) for an email from “Facebook Internet Tracking Settlement Administrator” [donotreply@fbinternettrackingsettlement.com] with the subject line “Notice of Proposed Settlement of Class Action.” Inside on the top of the e-mail, you should find a Notice ID and Confirmation Code that will make it easier to file a claim. My e-mail arrived in late June, but decided to wait for additional details. Nothing else came out that I am aware of, so I just went ahead and submitted a claim before I forget completely.

Submit your claim online at www.FBInternetTrackingSettlement.com. Claim form must be submitted no later than September 22, 2022. You don’t need to have received the e-mail to file a claim, but the codes may help confirm your eligibility.

Based on my past experience, I would simply submit a claim and forget about it. The claim process was quite simple and only took a minute. Choose a payment method that you are confident will still work years from now (I picked PayPal). I look forward to a random $13.44 deposit a few years down the road, but who knows, it might be bigger.

Filed Under: Deals & Offers //

Best Interest Rates on Cash – August 2022 Update

Posted on August 2, 2022 // 5 Comments

Here’s my monthly roundup of the best interest rates on cash as of August 2022, roughly sorted from shortest to longest maturities. We all need some safe assets for cash reserves or portfolio stability, and there are often lesser-known opportunities available to individual investors. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 8/2/2022.

TL;DR: 4% APY on up to $6,000 for liquid savings at Current with no direct deposit requirement. MyBankingDirect 2.20% APY liquid savings. 1-year CD 3% APY. 5-year CD 3.65% APY. Compare against Treasury bills and bonds at every maturity. 9.62% Savings I Bonds still available if you haven’t done it yet.

Fintech accounts
Available only to individual investors, fintech companies often pay higher-than-market rates in order to achieve fast short-term growth (often using venture capital). “Fintech” is usually a software layer on top of a partner bank’s FDIC insurance.

  • 4% APY on $6,000. Current offers 4% APY on up to $6,000 total ($2,000 each on three savings pods). No direct deposit required. $50 referral bonus for new members with $200+ direct deposit with promo code JENNIFEP185. Please see my Current app review for details.
  • 3% APY on up to $100,000, but requires direct deposit and credit card spend. HM Bradley pays up to 3% APY if you open both a checking and credit card with them, and maintain $1,500 in total direct deposit each month and make $100 in credit card purchases each month. Please see my updated HM Bradley review for details.

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

  • MyBankingDirect is up to 2.20% APY with no minimum balance requirements ($500 minimum to open).
  • SoFi is now offering 1.80% APY + up to $325 new account bonus with direct deposit. You must maintain a direct deposit each month of any amount for the higher APY. SoFi now has their own bank charter so no longer a fintech by my definition. See details at $25 + $300 SoFi Money new account and deposit bonus.
  • There are several other established high-yield savings accounts at closer to 1.50% APY. Marcus by Goldman Sachs is on that list, and if you open a new account with a Marcus referral link (from reader Paul) you now can get an extra 1.00% APY for your first 3 months.

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

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. CIT Bank has a 11-month No Penalty CD at 2.00% APY with a $1,000 minimum deposit. Ally Bank has a 11-month No Penalty CD at 1.40% APY for all balance tiers. Marcus has a 13-month No Penalty CD at 1.55% APY with a $500 minimum deposit. You may wish to open multiple CDs in smaller increments for more flexibility.
  • Bread Financial has a 12-month certificate at 3.00% APY. Early withdrawal penalty is 180 days of interest.

Money market mutual funds + Ultra-short bond ETFs*
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). * Money market mutual funds are regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms. I am including a few ultra-short bond ETFs as they may be your best cash alternative in a brokerage account, but they may experience short-term losses.

  • Vanguard Federal Money Market Fund is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 1.92%. Compare with the Fidelity Government Money Market Fund (SPAXX), Fido’s sweep option which charges a higher expense ratio and thus only offers a 1.42% SEC yield.
  • Vanguard Ultra-Short-Term Bond Fund currently pays 2.40% SEC yield ($3,000 min) and 2.50% SEC Yield ($50,000 min). The average duration is ~1 year, so your principal may vary a little bit.
  • The PIMCO Enhanced Short Maturity Active Bond ETF (MINT) has a 2.37% SEC yield and the iShares Short Maturity Bond ETF (NEAR) has a 2.55% SEC yield while holding a portfolio of investment-grade bonds with an average duration of ~6 months.

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

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 8/2/2022, a new 4-week T-Bill had the equivalent of 2.18% annualized interest and a 52-week T-Bill had the equivalent of 3.09% annualized interest.
  • The Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) has a 1.38% SEC yield and the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 1.18% SEC yield. GBIL appears to have a slightly longer average maturity than BIL.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov. You can also buy an additional $5,000 in paper I bonds using your tax refund with IRS Form 8888.

  • “I Bonds” bought between May 2022 and October 2022 will earn a 9.62% 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-October 2022, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.
  • See below about EE Bonds as a potential long-term bond alternative.

Prepaid Cards with Attached Savings Accounts
A small subset of prepaid debit cards have an “attached” FDIC-insured savings account with exceptionally high interest rates. The negatives are that balances are severely capped, and there are many fees that you must be careful to avoid (lest they eat up your interest). There is a long list of previous offers that have already disappeared with little notice. I don’t personally recommend nor use any of these anymore, as I feel the work required and the fees charged if you mess up exceeds any small potential benefit.

  • Mango Money pays 6% APY on up to $2,500, if you manage to jump through several hoops. Requirements include $1,500+ in “signature” purchases and a minimum balance of $25.00 at the end of the month.
  • NetSpend Prepaid pays 5% APY on up to $1,000 but be warned that there is also a $5.95 monthly maintenance fee if you don’t maintain regular monthly activity.

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.

  • Porte fintech app requires a one-time direct deposit of $1,000+ to open a savings account. Porte then requires $3,000 in direct deposits and 15 debit card purchases per quarter (average $1,000 direct deposit and 5 debit purchases per month) to receive 3% APY on up to $15,000. New customer bonus via referral.
  • The Bank of Denver pays 2.00% APY on up to $10,000 if you make 12 debit card purchases of $5+ each, receive only online statements, and make at least 1 ACH credit or debit transaction per statement cycle. If you meet those qualifications, you can also link a Kasasa savings account that pays 1.00% APY on up to $25k. Thanks to reader Bill for the updated info.
  • Presidential Bank pays 2.25% APY on balances between $500 and up to $25,000, if you maintain a $500+ direct deposit and at least 7 electronic withdrawals per month (ATM, POS, ACH and Billpay counts).
  • Evansville Teachers Federal Credit Union (soon Liberty FCU) pays 3.30% APY on up to $20,000. You’ll need at least 15 debit transactions and other requirements every month.
  • Lake Michigan Credit Union pays 3.00% APY on up to $15,000. You’ll need at least 10 debit transactions and other requirements every month.
  • (I’ve had a poor customer service experience with this CU, but the rate is still good.) Lafayette Federal Credit Union is offering 2.02% APY on balances up to $25,000 with a $500 minimum monthly direct deposit to their checking account. No debit transaction requirement. They are also offering new members a $100 bonus with certain requirements. Anyone can join this credit union via partner organization ($10 one-time fee).
  • 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.

  • CFG Bank has a 5-year certificate at 3.65% APY ($500 min), 3-year at 3.55% APY, and 1-year at 2.75% APY. The early withdrawal penalty for the 5-year is 180 days of interest.
  • 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 CD at 3.55% APY. Be wary of higher rates from callable CDs listed by Fidelity.

Longer-term Instruments
I’d use these with caution due to increased interest rate risk, but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I don’t see any 10-year CDs available vs. 2.76% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates rise.
  • How about two decades? Series EE Savings Bonds are not indexed to inflation, but they have a unique guarantee that the value will double in value in 20 years, which equals a guaranteed return of 3.5% a year. However, if you don’t hold for that long, you’ll be stuck with the normal rate which is quite low (currently 0.10%). I view this as a huge early withdrawal penalty. But if holding for 20 years isn’t an issue, it can also serve as a hedge against prolonged deflation during that time. Purchase limit is $10,000 each calendar year for each Social Security Number. As of 7/5/2022, the 20-year Treasury Bond rate was 3.22%.

All rates were checked as of 8/2/2022.

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

JP Morgan Self-Directed Brokerage: Up to $625 New Deposit/Transfer Bonus

Posted on August 1, 2022 // 2 Comments

Brokerage firms constantly compete for “assets under management”, and many are willing to give you cash to move over your existing portfolio from your existing broker over to them. If you are unsatisfied with your current broker, these incentives may help you find a new home for your hard-earned assets.

Chase started a self-directed brokerage arm called “Chase You Invest”, but I guess that didn’t sound fancy enough, because now it is called JP Morgan Self-Directed Investing (a part of JP Morgan Wealth Management). They are currently offering up to $625 for new accounts, depending the value of assets that you move over (deposit cash or move over stocks and securities):

  • $125 with $25,000-$99,999 in qualifying new money.
  • $300 with $100,000–$249,999 in qualifying new money
  • $625 with $250,000+ in qualifying new money

Here are the steps:

  1. Open a J.P. Morgan Self-Directed Investing account through this page by 10/10/2022. (General Investment Taxable, Traditional IRA, or Roth IRA.)
  2. Transfer – You have 45 days to fund your account with qualifying new money (cannot be existing deposits, funds or securities held by you at JP Morgan, Chase or affiliate partners). Your bonus will be determined on day 45.
  3. Earn

The features for the account itself seem like most other online brokerages. Unlimited commission-free online stock, ETF and options trades (+ $0.65 per-contract fee). You can trade ETFs, fixed income, mutual funds, and options. The interface is more on the basic side, but you can perform instant funds transfers between the brokerage account and your Chase checking account, which may be convenient.

Here is their fee schedule. A few things I noticed: Buying a treasury at auction costs $50. IRA Maintenance fee of $75 per year. IRA Termination fee of $95 per account.

Here is more fine print:

You can only participate in one J.P. Morgan Self-Directed Investing new money bonus in a 12 month period from the last bonus coupon enrollment date. Coupon is good for one time use and only one bonus per account. Account types and other restrictions apply. Offer terms are subject to change and/or termination without advance notice. The value of the cash award may be considered income, and we may be required to send you, and file with the IRS, a Form 1099-MISC (“Miscellaneous Information”), or a Form 1042-S (“Foreign Person’s U.S. Source Income Subject to Withholding”) if applicable.

The $125 bonus is best in terms of percentage (0.5% of $25,000), but in terms of time/effort you may just want to get the biggest bonus. There have been somewhat higher bonuses in the past from Chase/JP Morgan, but it’s unknown if they will come back.

Given that we are now in a higher interest rate environment, you should take into account the potential lost interest if you deposit idle cash into their default sweep account. You might also consider ultra-short bond ETFs like MINT or Treasury Bill ETFs like GBIL (still possible to lose value).

Usually, the easiest thing is to perform an in-kind ACAT transfer of existing securities, which takes less than a week and all of your tax basis information should also move over after another few days. Your old broker may charge you an outgoing ACAT fee about about $75, although you should ask JP Morgan if they will reimburse you for this fee.

Filed Under: Deals & Offers, Investing //

Capital One Cardholders: Free Global Museum Tickets via The Cultivist

Posted on July 28, 2022 // 3 Comments

Capital One credit cardholders can get 6 months of free access to 100+ museums worldwide via The Cultivist (valid for cardholder & up to three guests). Visit thecultivist.com/capitalone and input the 16 digits of your eligible Capital One credit card in the checkout process to receive 6 months of complimentary Enthusiast level membership (usually $40 a month, so technically a $240 value).

The Membership Offer is only available to Capital One cardholders, age 18 or older, with an eligible U.S.-issued, Capital One branded, consumer or small business credit card (“Eligible Capital One Cardholders”). Limit one Membership Offer per Eligible Capital One Cardholder. Offer provides one hundred eighty (180) days of complimentary membership for the enrolled Eligible Capital One Cardholder in ‘The Enthusiast’ level of membership with The Cultivist (the “Membership Offer”).

Warning: The ongoing monthly membership fee of $40 will be automatically billed after complimentary membership expires. Set a calendar reminder. You may cancel at any time. Since it only lasts for 6 months, you may wish to delay the activation of your 6-month free membership until later and also allowing you to cancel earlier.

Here is their full Museum list. The list is subject to change, but here are just a few examples:

  • New York City – Guggenheim and The Met
  • San Francisco – SFMOMA
  • Chicago – Art Institute of Chicago
  • London – National Portrait Gallery
  • Paris – Louvre (7-day advance notice) and Musee D’Orsay

Even a single museum visit can save your household a good chunk of money. For some museums, you just have to show your Cultivist membership card at the entrance. For others, you must contact them and have them issue free, skip-the-line tickets for you. There are reports that they are a bit overwhelmed right now, so definitely put in your request as early as possible. Pack your patience, but if urgent consider giving them a phone call them to expedite.

If you have any sort of Capital One consumer or small business card, you can input your 16-digit card number and see if it works. Looks like I can wring yet another benefit out of my Capital One Venture X Rewards card! 🤑

Filed Under: Credit Cards, Deals & Offers //

Bank of America Free Museum Tickets Nationwide 2022 Dates

Posted on July 28, 2022 // Leave a Comment

The next eligible Museums on Us weekend is August 6th & 7th. Bank of America is running their Museums on Us program again for 2022, which offers debit and credit cardholders free admission to 225+ museums, science centers, and botanical gardens nationwide on the first full weekend of every month (Saturday and Sunday). Each person just needs to show their valid Bank of America or Merrill Lynch credit or debit card and photo ID for free admission.

Each individual cardholder gets ONE free general admission for themselves only, so be sure everyone with their own BofA cards brings them. If you have a BofA credit card, you may consider adding family members (of any age) as a free authorized user. Another option is to open a Kids Savings Account with no monthly fee and also comes with a debit card. You may need to open this in a physical branch.

Remaining 2022 Calendar Dates (Check specific museum for hours)

  • August 6-7
  • September 3-4
  • October 1-2
  • November 5-6
  • December 3-4

Here is the full list of participating locations. Excludes fundraising events, special exhibitions and ticketed exhibitions. One of the available museums is the Thinkery in Austin, Texas. We found it to be a fun and interactive children’s science center. The admission was $12 per person including kids (23 months and under free), which means this could have saved our family of five $60 for that one day. I’ve seen other museums on their list with $20 admission prices.

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

US Bank $400 New Checking Account Bonus

Posted on July 26, 2022 // 20 Comments

US Bank has a $400 new checking promotion when you open a new Platinum, Gold or Easy U.S. Bank checking account with $25 minimum and complete the following:

  • Enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account.
  • Complete two or more direct deposits within 60 days of opening your account totaling $4,000 or more.

Must open by August 8th, 2022 and use the promo code 2022JUL. This offer may be restricted to those states where US Bank has a physical branch presence.

You may still be considered a “new” account even if you had a US Bank account years ago:

Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two years, or received other U.S. Bank bonus offers within the past two years.

The most basic option is the Easy Checking account, which has a $6.95 monthly fee which that is waived with any one of the following:

  • Your combined monthly direct deposits total $1,000 or more.
  • You keep an average account balance6 of $1,500 or more.
  • You are age 65 or greater.

All in all, a relatively straightforward checking promotion with decent bonus size. Good potential Project Free IRA fodder. Worth a look if you are in their geographic area.

Filed Under: Banking, Deals & Offers //

Fidelity Youth Brokerage Account: Free $50 for Teens (13-17yo, No Deposit Required)

Posted on July 18, 2022 // 4 Comments

Fidelity Investments has a new $50 promotion for their Youth account for teens (aged 13-17). Parents must have their own open Fidelity account before opening a Youth account. After you open a new Youth Account and your teen downloads the Fidelity Mobile® App and activates the new account, your teen will receive a $50 deposit as a reward. No deposit required, no monthly fees, no minimum balance required.

Details from their FAQ:

We are hoping to help your teen jumpstart their financial journey by helping them learn about money. Using our mobile app, they can access the Youth Learning Center, which is a resource created specifically to help teens learn the basics about saving, spending, and investing.

Parent/guardian must have their own Fidelity brokerage account to open an account for their teen.
Parent/guardian must initiate the application process and once completed, the teen will receive instructions on how to download the Fidelity Mobile® App and activate their account.
There are no funding requirements to receive this reward.
No further investment or trading is required to qualify for the offer.

The reward will be deposited directly to the eligible account within 10 calendar days after the teen has downloaded the Fidelity Mobile® App and activated their account (which entails creating a username/password, and logging into the mobile app and accepting account agreements). Amounts deposited by Fidelity in the form of the reward will be initially held in the Fidelity Government Money Market Fund,* the eligible account’s core position.

To open a Youth Account you will need 2 forms of documentation to verify your teen’s identity. Acceptable forms of documentation include:

– Your teen’s Social Security card OR a copy of the first page of your latest filed 1040 tax return. This document should have your teen’s name and Social Security number (SSN) clearly visible.
– An unexpired document with your teen’s name (state-issued driver’s license, passport, birth certificate, or student ID card).

Filed Under: Deals & Offers, Investing //

Sam’s Club New Membership Deal: $25 + $25 Off 1st Purchase of $25+

Posted on July 14, 2022 // 7 Comments

sams200bGroupon has brought back their Sam’s Club membership deals, which come around a few times per year and offers a deeply-discounted membership. There are two options.

The $25 option includes:

  • 12-month Sam’s Club membership (retail $45)
  • Household member card
  • $25 discount off first in-club purchase of $25+. (Total must be $25 pre-tax.)

So as long as you buy $25 of stuff at Sam’s Club, your net cost is effectively free ($25 minus $25).

The $25 offer automatically loads to your membership account and it will discount your first in-club purchase of $25 or more. Redeem within 60 days after joining. Offer only works in club on a register or by using Scan & Go on the Sam’s Club app. When you check out, the discount appears between the list of purchased items and the subtotal amount. It will be referenced as “INST SV.” Purchases of alcoholic beverages, tobacco, milk, fuel, pharmacy, gift cards, memberships or shipping costs are not included in this offer. Other restrictions may apply.

The $55 option includes Sam’s Club Plus Membership (Retail Value is $100):

  • 12-month Club membership + 1 Free Complimentary Membership
  • 2% Sams Cash on qualifying in-club purchases**
  • Free shipping. Exclusions apply.
  • Free curbside pickup.
  • Early shopping hours starting 8 a.m. Hours may vary by club.

This deal is for new memberships only, as defined as follows:

Not valid for membership renewals, for those with a current membership, or those who were Sam’s Club members less than 6 months prior to January 11th, 2022.

Some folks like to rotate a year with Sam’s Club and a year with Costco or BJ’s Warehouse, as both usually offer new member deals regularly.

Save even more on your Groupon with a cashback shopping portal. Many offer new customers bonuses if you make a qualifying purchase, including Swagbucks ($10 bonus), MyPoints ($10 bonus), Rakuten (formerly eBates) ($30 bonus currently, varies), TopCashBack (varies), and BeFrugal ($10 bonus). So you could sign-up and stack this Groupon to trigger the bonus. I have cashed out of all of these in the last 12 months.

Filed Under: Deals & Offers //
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