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New Contributor
craigh
Posts: 80
Registered: ‎02-09-2009

What happened to the CC that rounded up and put $ into Savings

Anyone know what happened to that credit card that was advertising that they rounded up to the nearest dollar and put the money in savings. Example: spend $23.65, 35 cents goes into savings account and total charge was $24.

 

I don't remember the card name but any help would be appreciated. 

 

Do they do this for a lot of cards or just this particular advertistment. I am new to CC. Thanks

Contributor
CreditCardWhore
Posts: 76
Registered: ‎01-20-2009

Re: What happened to the CC that rounded up and put $ into Savings

I think you are thinking of BOA - "Keep the Change" which is a debit card - you can google.  I considered using it but reward CC's are better unless you are spending small amounts like $5.02 - not worth the hassle IMO
Valued Contributor
oracles
Posts: 1,699
Registered: ‎08-18-2007

Re: What happened to the CC that rounded up and put $ into Savings

I agree with creditcard

 

This is the keep the change debit card from bofa and if you can obtain a rewards card, it would be better.

 

Keep the change, it is still your money only transferring it to another account.

 

In a rewards card, they are giving you free money.

 

HTH

Established Contributor
Mike14
Posts: 618
Registered: ‎09-16-2008

Re: What happened to the CC that rounded up and put $ into Savings

I agree rewards cards are better, but for some people, this "keep the change" program is they only way for them to get savings.  Also, BofA matches some of the savings and there's some kind of bonus program as well.
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Contributor
soonerORlater750
Posts: 78
Registered: ‎08-23-2008

Re: What happened to the CC that rounded up and put $ into Savings

I've had the B of A "keep the change" (or whatever) checking account for over a year and "saved" up the massive amount of $1.23 since inception.  I did however earn $0.01 in interest a few months back.  :smileyvery-happy:   As other posters have stated: use your rewards cards to accumulate some REAL cash... then put THAT into savings, if you like.

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Established Contributor
granny031350
Posts: 951
Registered: ‎12-04-2007

Re: What happened to the CC that rounded up and put $ into Savings

I have Keep the Change and I LOVE IT!!!!!!!!!!!!!  It will be 1 year old in May and I have saved over 100.00 so far.  If you are a big debit card user like I am then you will save a lot.  My daughter has saved over 200.00 so far.  She uses her debit card even more than I do.

 

At anniversary date, B of A will match 100 percent of the first 60 days of use, then 5 percent thereafter. 

Contributor
soonerORlater750
Posts: 78
Registered: ‎08-23-2008

Re: What happened to the CC that rounded up and put $ into Savings

Kudos on the $100 saved!  The difference is... that was YOUR money to begin with.  Use a rewards card and you get THEIR money.  If you're diciplined enough, go through your credit card purchases the first of the month and round them up to an even dollar and write yourself a check to your savings account.  You'll have the best of both worlds.  Me?  I like my money.  I -love- THEIR money.    :smileywink:  Gimmie!  Gimmie!  Gimmie!
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Established Contributor
granny031350
Posts: 951
Registered: ‎12-04-2007

Re: What happened to the CC that rounded up and put $ into Savings

well when you don't qualify for those high end rewards cards, the keep the change works just fine
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

Re: What happened to the CC that rounded up and put $ into Savings


granny031350 wrote:
well when you don't qualify for those high end rewards cards, the keep the change works just fine

 

I'm with granny on this one.

 

I had Keep the Change and also loved it - more than the rewards cards I also have.

 

Everybody's different, and what works best for or appeals to one person won't work best or appeal to the next person.

 

To each his own - I loved KtC because I was looking for a painless, automatic way to funnel away extra savings.  I'm too impatient to make the most of rewards cards, and though I've made great strides in handling credit in the last few years, I still am uncomfortable using cc's for everyday expenses to earn rewards.  I still use my VISA checkcard to make most everyday purchases, and I often had funneled away a decent sum at the end of each cycle.

 

I was really disappointed when BofA kept slapping holds on my paychecks (my employer couldn't/wouldn't do direct deposit) even months later.  I finally gave up on them and went back to my original bank, but I greatly miss that auto-save feature!!

_____________________________________________________________________________
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Established Contributor
MojaveMoon
Posts: 536
Registered: ‎08-26-2008

Re: What happened to the CC that rounded up and put $ into Savings

[ Edited ]
For those of you who prefer a debit card over a credit card, would there be an advantage to you to use a rewards checking account instead of BofA's Keep The Change program ? Once you make at least ten to twelve debit transactions during a statement cycle, the rewards checking accounts typically earn between 4% and 6%.

A sample of the rewards checking accounts that are out there:

Addison Ave Dividend Rewards Checking
http://dividendrewardschecking.com/

Coastal Credit Union Go Green Checking
http://www.coastal24.com/personal/checking/go-green-checking.html

Lake Michigan Max Checking
https://www.lmcu.org/max-checking/default.aspx

Redneck Bank
http://www.redneckbank.com/

high yield checking accounts by state:
http://www.highyieldcheckingdeals.com/
Message Edited by MojaveMoon on 02-10-2009 03:30 PM

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