topic Re: Amex HYSA in Personal Finance

Amex HYSA

drewricomakeubu — Tue, 09 May 2023 19:41:36 GMT

How responsive is Amex in upping their interest rates on their HYSAs?

just noticed Marcus just upped theirs to 4.15 and etrade just went to 3.85 but Amex is still holding steady at 3.75. Anyone have any info on Amex?

Re: Amex HYSA

DONZI — Fri, 12 May 2023 05:10:32 GMT

Sorry, same as you. Could be better, could be worse.

I hope they're not so busy nerfing cards that they forgot to throw a bone to the HYSA rate.

Re: Amex HYSA

MarkintheHV — Fri, 12 May 2023 14:35:05 GMT

I jumped into the Amex hysa arena when they were 3.5%. I didnt even realize until someone said something about them raising to 3.75. I have looked around looking for better, and when you compute the differences between 3.75 and 4.15 the montly amount isnt that great. I decided to stick with Amex because expedited same day transfers are free, and they are pretty responsive to me.

Re: Amex HYSA

lovelife2 — Fri, 12 May 2023 14:40:49 GMT

I have been with Amex Svgs a while, they are faster at raising rates than others. I have Marcus Savings and love it, its my favorite bar none.

Re: Amex HYSA

DONZI — Fri, 12 May 2023 15:48:19 GMT

I have some cash in bank/credit union products but it's somewhat a short term novelty for me, even the money market funds that are generating more income Vs many bank amounts. I'd rather the cash be invested but..

I've got some potentially better ideas for the cash, but remain perhaps overly cautious still since my crystal ball broke and some of this climate doesn't seem to have very clear historical breadcrumbs.

Re: Amex HYSA

Brian_Earl_Spilner — Fri, 12 May 2023 15:58:39 GMT

I don't know, but JP Morgan just offered me 4.2 on up to 3MM.

Re: Amex HYSA

Anonymous — Fri, 12 May 2023 19:49:51 GMT

depositaccounts lists 4 FI offering 5+% on HYSA, with highest proper rate of 5.05% (Western Alliance Bank. Customers Bank uses 5.10% but there is an annual percent fee). That can be significantly different to 3.75%, even for "medium" amounts.

Will it be high next week? Who knows, although, since Jan, they have been above 4%.

Re: Amex HYSA

Creditwiser — Tue, 16 May 2023 23:13:53 GMT

I just received notice on my account that it has increased to 3.90 and already applied as current APY.

Re: Amex HYSA

Jeffster1 — Fri, 19 May 2023 01:34:03 GMT

I'm sitting right now on an Amex HYSA at 3.90% and a BMO HYSA at 4.402%.