AmEx Head Scratcher.

[Anonymous]

So, anyone else see the pointlessness of the CD rates that AmEx FSB offers when they offer 0.90% interest on savings?  Why bother with these if you get more out of the savings account?  Do they have to offer these by law or something?

Term APY*

6 Months	0.40%
12 Months	0.55%
18 Months	0.60%

[IOBA]

Lol!!  Someone else finally noticed!

Not everyone does, believe me.   

[pizzadude]

Yeah, weird.  

I think some people just like CDs, the fact that they are "locked up" for a certain period of time, as opposed to a Savings account which is always accessible.

[Anonymous]

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@pizzadude wrote:

Yeah, weird.  

I think some people just like CDs, the fact that they are "locked up" for a certain period of time, as opposed to a Savings account which is always accessible.

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Would never understand that.. I can understand if you wanted the higher rates of the longer CDs but not for less than a Savings account..

*shrug*

[pizzadude]

Yep, doesn't make sense to me either, but obviously somebody out there is buying their CDs...

[Anonymous]

Is there a cap on the AMEX Savings account?  I have never owned a CD since I can always find savings accounts with better rates, however, most savings accounts are capped at $20,000 or so ( to earn the best rate around my neck of the woods anyway).  Perhaps the CDs are geared more toward people buying at like $250k+ or something....