AMEX Savings Account

[Anonymous]

Little did I know that AMEX had a High Yield Savings Account, no minimum due to open or no monthly fees?? Thoughts on this??

[Dave4fun]

I use it. I love it! Every two weeks I make an online transfer from my checking account to the Amex savings account. It keeps growing and growing. They keep raising the interest rate which is great. It is still low compared to historic standards, but I am glad the balance keeps growing with interest and it is easy to maintain. 

[DaveInAZ]

Amex stays very competitive on rates, when I logged in today to retrieve my monthly statement I saw that as of June 22 they've raised the rate to 1.75%.

There are other limited savings accounts:

DCU credit union pays 5.12% on savings up to $1k, I have that maxed out.

Premier Members credit union pays 4% on a money market account up to $2k, I have that maxed out.

The rest of my savings is primarily with Amex.

[Anonymous]

Amex going from 1.45% to 1.75% in 3 months is impressive! not the highest out there but moving on up!

[Anonymous]

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@DaveInAZ wrote:

Amex stays very competitive on rates, when I logged in today to retrieve my monthly statement I saw that as of June 22 they've raised the rate to 1.75%.

There are other limited savings accounts:

DCU credit union pays 5.12% on savings up to $1k, I have that maxed out.

Premier Members credit union pays 4% on a money market account up to $2k, I have that maxed out.

The rest of my savings is primarily with Amex.

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For DCU, that's $51.20 in earned interest. Is that added each month or just at year's end?

[DaveInAZ]

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@Anonymous wrote:

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@DaveInAZ wrote:

Amex stays very competitive on rates, when I logged in today to retrieve my monthly statement I saw that as of June 22 they've raised the rate to 1.75%.

There are other limited savings accounts:

DCU credit union pays 5.12% on savings up to $1k, I have that maxed out.

Premier Members credit union pays 4% on a money market account up to $2k, I have that maxed out.

The rest of my savings is primarily with Amex.

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For DCU, that's $51.20 in earned interest. Is that added each month or just at year's end?

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Interest is paid monthly at end of month statement. Which is handy, as when the interest puts me over $1k I transfer the surplus to my checking account.

[Anonymous]

Just opened a savings account with AMEX, I love it so much!

[ScoreSizzle]

Do they HP? Chase always wants a HP for an account. SMH.

[PutThatMoneyOnTheTable]

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@ScoreSizzle wrote:
Do they HP? Chase always wants a HP for an account. SMH.

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No HP to open a saving account.

[ScoreSizzle]

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@PutThatMoneyOnTheTable wrote:

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@ScoreSizzle wrote:
Do they HP? Chase always wants a HP for an account. SMH.

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No HP to open a saving account.

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Opened it up just now. 

TY!