Money Market Rates December 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.80% FNBO Direct Online Savings
1.70% Marcus by Goldman Sachs (GS Bank) Online Savings
1.70% Capital One 360 Money Market
1.70% Discover Bank Online Savings
1.70% American Express High Yield Savings
1.60% Ally Bank Online Savings
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 12/20/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In fairness to the bottom three institutions on my list (Unify FCU, Citibank, and Chase), money market accounts are not their strong suit. Each of these offers short-term CDs that pay significantly more than their money market offerings. If your financial institution doesn't have a decent money market, you may investigate if they have any competitive CD rates.

Overall, MM account interest rates are continuing to fall. Notably, the Ally Bank Online Savings account was paying 2.20% as recently as June 2019, and has now dropped to 1.60%. It will be interesting to see if the rates will continue to go down, or stabilize from here.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates Are Falling

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.00% FNBO Direct Online Savings
1.90% Marcus by Goldman Sachs (GS Bank) Online Savings
1.90% Capital One 360 Money Market
1.90% American Express High Yield Savings
1.90% Discover Bank Online Savings
1.80% Ally Bank Online Savings
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 10/10/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In fairness to the bottom three institutions on my list (Unify FCU, Citibank, and Chase), money market accounts are not their strong suit. Each of these offers short-term CDs that pay significantly more than their money market offerings. If your financial institution doesn't have a decent money market, you may investigate if they have any competitive CD rates.

Overall, MM account interest rates are continuing to fall. Notably, the Ally Bank Online Savings account was paying 2.20% as recently as June 2019, and has now dropped to 1.80%. It will be interesting to see if the rates will continue to go down, or stabilize from here.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates September 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.00% Marcus by Goldman Sachs (GS Bank) Online Savings
2.00% FNBO Direct Online Savings
2.00% Capital One 360 Money Market
1.90% American Express High Yield Savings
1.90% Discover Bank Online Savings
1.90% Ally Bank Online Savings
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 9/16/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In fairness to the bottom three institutions on my list (Unify FCU, Citibank, and Chase), money market accounts are not their strong suit. Each of these offers short-term (1 year and less) CDs that pay approximately in the 1.75-2.00% range. If your financial institution doesn't have a decent money market, you may investigate if they have any competitive CD rates.

Most noticeably, MM account interest rates are continuing to slowly drop. However for a long while, there was a significant uptrend in money market rates. It will be interesting to see if the rates will continue to go down, or stabilize from here.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Citi Cards Eliminates Cardholder Benefits

Citibank will eliminate many cardholder benefits on most of their credit cards, including the Citi Dividend Card, Citi AAdvantage Platinum Select World Elite Mastercard, Costco Anywhere Visa Card, and many others. These benefits include the Citi Price Rewind, and trip cancellation and interruption protection benefits. The changes will be effective as of 09/22/19.

Here are some details that I have retrieved from the Citibank website:

What changes are being made to my card benefits?

Effective September 22, 2019, Worldwide Car Rental Insurance, Trip Cancellation & Interruption Protection, Worldwide Travel Accident Insurance, Citi® Price Rewind, 90 Day Return Protection, Damage & Theft Purchase Protection, and Extended Warranty will be discontinued and will no longer be provided for purchases made on or after that date.

What sort of reaction have people do people have? If you have a Citibank credit card, tell us what you think.

PFS

Credit Card Bonuses - Spring 2019

Save money on purchases and get cash back with coupon codes and the following credit cards:

Citi Dividend Card

• 5% cash back 4/1/19 - 6/30/19: Drugstores & Fitness Clubs
• 5% cash back 7/1/19 - 9/30/19: Airlines & Car Rentals
• 5% cash back 10/1/19 - 12/31/19: Best Buy & Department Stores
• 1% on everything else.

Discover Card

• 5% cash back 4/1/19 - 6/30/19: Gas Stations, Uber and Lyft
• 5% cash back 7/1/19 - 9/30/19: Restaurants and PayPal
• 5% cash back 10/1/19 - 12/31/19: Amazon.com, Target and Walmart.com
• up to 1% on everything else.

Barclaycard Arrival World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 1.05% on everything else.
• No annual fee.

BankAmericard Cash Rewards

• 3% on a selected category (gas, dining, drug stores, home improvement/furnishings, online shopping, or travel)
• 2% at grocery stores and wholesale clubs (including Costco)
• 1% on everything else.
• No annual fee.
• Note: Rewards are higher if you have a Bank of America checking or savings account.

Costco Anywhere Visa Card

• 4% on gas
• 3% on restaurants and travel
• 2% at Costco
• 1% on everything else.
• There is no annual fee, however you must be a Costco member.

Citi ThankYou Card

• 2X points on Dining Out & Entertainment
• 1X points on everything else.

Barclaycard Arrival Plus World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 2.1% on everything else.
• ($89 annual fee after first year)

PFS

Money Market Rates March 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.25% Marcus by Goldman Sachs (GS Bank) Online Savings
2.25% FNBO Direct Online Savings
2.20% Ally Bank Online Savings
2.10% American Express High Yield Savings
2.10% Discover Bank Online Savings
2.00% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 3/18/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. (For example, Citibank currently offers a competitive (2.15%) promotional savings rate. However, it requires a $25,000 deposit of "new money" and drops back to their standard rate after 90 days.) I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Most of the better MM accounts are now offer a rate of 2.00% or higher. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates January 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.25% Marcus by Goldman Sachs (GS Bank) Online Savings
2.15% FNBO Direct Online Savings
2.10% American Express High Yield Savings
2.10% Discover Bank Online Savings
2.00% Ally Bank Online Savings
2.00% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.04% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 1/15/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Most of the better MM accounts are now offer a rate of 2.00% or higher. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS