topic Re: Disappointing changes to HM Bradley accounts in Personal Finance

Disappointing changes to HM Bradley accounts

summerterrace — Wed, 15 Dec 2021 23:19:03 GMT

Just got notification that effective 2/1/22 the tiers will be changing for HM Bradley High Yield accounts.

Right now, as long as you have a Direct Deposit each month and you save at least 5% of all deposits you can earn 3% APY for the quarter.

Beginning February 2022 you can only earn 3% if:

You have a HM Bradly credit card that pays 3% cash back on your biggest spending category and has an annual fee of $69

Spend at least $100 each month on the credit card

Direct deposit at least $2500

Save at least 20% of all deposits

Yikes! Needless to say I will be moving on...

Re: Disappointing changes to HM Bradley accounts

bankjamie — Thu, 16 Dec 2021 03:43:01 GMT

What are you going to be moving to? T-Mobile money?

Re: Disappointing changes to HM Bradley accounts

ghgirll40 — Thu, 16 Dec 2021 04:39:30 GMT

@bankjamie wrote:
What are you going to be moving to? T-Mobile money?

LOL!!! Its a bad time for savings account rates across the industry and I really believe it will pass but you must be patient is all. Best of luck!

Re: Disappointing changes to HM Bradley accounts

summerterrace — Fri, 17 Dec 2021 22:49:08 GMT

@ghgirll40 wrote:
@bankjamie wrote:
What are you going to be moving to? T-Mobile money?
LOL!!! Its a bad time for savings account rates across the industry and I really believe it will pass but you must be patient is all. Best of luck!

Typical bait and switch of a start up bank offering great rates to attract people and then nerfing benefits. I would rather move to bank that offers lower percentage that doesn't have gimmicks I have to keep track of.

Re: Disappointing changes to HM Bradley accounts

CreditInspired — Sat, 18 Dec 2021 10:58:42 GMT

@summerterrace wrote:
Just got notification that effective 2/1/22 the tiers will be changing for HM Bradley High Yield accounts.

Right now, as long as you have a Direct Deposit each month and you save at least 5% of all deposits you can earn 3% APY for the quarter.

Beginning February 2022 you can only earn 3% if:

You have a HM Bradly credit card that pays 3% cash back on your biggest spending category and has an annual fee of $69
Spend at least $100 each month on the credit card
Direct deposit at least $2500
Save at least 20% of all deposits

Yikes! Needless to say I will be moving on...

Is it all 3 monthly or at least 1 of the 3?

Re: Disappointing changes to HM Bradley accounts

summerterrace — Sat, 01 Jan 2022 19:49:43 GMT

@CreditInspired wrote:
@summerterrace wrote:
Just got notification that effective 2/1/22 the tiers will be changing for HM Bradley High Yield accounts.

Right now, as long as you have a Direct Deposit each month and you save at least 5% of all deposits you can earn 3% APY for the quarter.

Beginning February 2022 you can only earn 3% if:

You have a HM Bradly credit card that pays 3% cash back on your biggest spending category and has an annual fee of $69
Spend at least $100 each month on the credit card
Direct deposit at least $2500
Save at least 20% of all deposits

Yikes! Needless to say I will be moving on...
Is it all 3 monthly or at least 1 of the 3?

It is all of the 3.