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I ordered an Insight card as well. It hasn't arrived in the mail yet. Make sure you avoid the fees. That is my concern about the account. You will lose the interest you earn if you get hit with fees.
That is one benefit to using a CD. You set it and forget it until it matures. That is not the case with the Insight Visa card.
wrote:I ordered an Insight card as well. It hasn't arrived in the mail yet. Make sure you avoid the fees. That is my concern about the account. You will lose the interest you earn if you get hit with fees.
That is one benefit to using a CD. You set it and forget it until it matures. That is not the case with the Insight Visa card.
I'm no Dave Ramsey, but you do not want to do CDs in a rising interest rate economy. With the recent tax cut and budget deal the federal deficit is expected to top $1 trillion this year. With the treasury having to borrow that much money interest rates are going nowhere but up. I think at least .5% this year.
I've considering Insight as well. I have accounts with DCU, which pays 5% on up to $1k in savings. I haven't tried them yet, but Blue credit union also pays 5% up to $1k, they are apparently sensitive to more than 3 recent inquiries with Chex.