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email from barclays raising interest rate by more than 11%

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longtimelurker
Epic Contributor

email from barclays raising interest rate by more than 11%

And it's good!

 

OK, this was Barclay's savings account, where the interest rate has gone from 0.9% to 1%.

Message 1 of 12
11 REPLIES 11
chalupaman
Super Contributor

Re: email from barclays raising interest rate by more than 11%

Is it a HP to get one of these or not? 

 

That's great to hear.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 2 of 12
mongstradamus
Super Contributor

Re: email from barclays raising interest rate by more than 11%


@longtimelurker wrote:

And it's good!

 

OK, this was Barclay's savings account, where the interest rate has gone from 0.9% to 1%.


Maybe trying to keep up with GE/Synchrony bank who have their rates 1% or higher?



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Message 3 of 12
longtimelurker
Epic Contributor

Re: email from barclays raising interest rate by more than 11%


@chalupaman wrote:

Is it a HP to get one of these or not? 

 

That's great to hear.


I didn't get an HP when I opened it two or three years ago. dont know about now.

 

 

Message 4 of 12
Anonymous
Not applicable

Re: email from barclays raising interest rate by more than 11%

Yeah I just got that email too! It's awesome. I don't remember mine being a hardpull and I opened mine within the past year.

Message 5 of 12
Anonymous
Not applicable

Re: email from barclays raising interest rate by more than 11%

Opened 2 last month and no HP.

Message 6 of 12
mongstradamus
Super Contributor

Re: email from barclays raising interest rate by more than 11%


@MstrPTato wrote:

Opened 2 last month and no HP.


looks like an lot of online banks are upping savings rates to 1%, ally is .99% also now which to me is just abotu 1%. I haven't checked recently but are brick and mortar banks still giving .01%. Online banks give you 100x better rates makes it worth while imo



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 7 of 12
Anonymous
Not applicable

Re: email from barclays raising interest rate by more than 11%


@mongstradamus wrote:

@MstrPTato wrote:

Opened 2 last month and no HP.


looks like an lot of online banks are upping savings rates to 1%, ally is .99% also now which to me is just abotu 1%. I haven't checked recently but are brick and mortar banks still giving .01%. Online banks give you 100x better rates makes it worth while imo


Some even giving .03%. It's sad. With the .01% difference, I ended up not utilizing Barclay as much. Ally has a better UI.

Message 8 of 12
mongstradamus
Super Contributor

Re: email from barclays raising interest rate by more than 11%


@MstrPTato wrote:

@mongstradamus wrote:

@MstrPTato wrote:

Opened 2 last month and no HP.


looks like an lot of online banks are upping savings rates to 1%, ally is .99% also now which to me is just abotu 1%. I haven't checked recently but are brick and mortar banks still giving .01%. Online banks give you 100x better rates makes it worth while imo


Some even giving .03%. It's sad. With the .01% difference, I ended up not utilizing Barclay as much. Ally has a better UI.


I like ally i have CD with them also so its just easier for me to stay with one bank for my savings. I wonder how much different barclays and GE/Synchony are is it worth switching or not



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 9 of 12
longtimelurker
Epic Contributor

Re: email from barclays raising interest rate by more than 11%


@mongstradamus wrote:

@MstrPTato wrote:

@mongstradamus wrote:

@MstrPTato wrote:

Opened 2 last month and no HP.


looks like an lot of online banks are upping savings rates to 1%, ally is .99% also now which to me is just abotu 1%. I haven't checked recently but are brick and mortar banks still giving .01%. Online banks give you 100x better rates makes it worth while imo


Some even giving .03%. It's sad. With the .01% difference, I ended up not utilizing Barclay as much. Ally has a better UI.


I like ally i have CD with them also so its just easier for me to stay with one bank for my savings. I wonder how much different barclays and GE/Synchony are is it worth switching or not


I no longer switch, just move some money into a new account, if the rate maxes out at a reasonable point, as relative rates can change greatly.

 

I opened TIAA Direct a while back, when their interest rate was the highest, but fairly soon it dropped a huge amount.   More recently, it has increased again, but not to the top tier (and my account was closed for other reasons).

 

That said, unless you have a lot on deposit, it really doesn't make a huge difference.  With $50K, at 1% you would get around $500, at 0.8% 400.  In either case, there are probably better places to use $50K!

Message 10 of 12
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