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does anyone know if CIT Bank does hard inquiries?

New Member

Re: does anyone know if CIT Bank does hard inquiries?


I haven't tried DD on that, just transferred over funds from elsewhere.   I've gone off 12 month CDs at present as recent ones matured at the 1.85% range (which was great when I opened, now looks bad).  If rate increases slow down though, they look good again.  First Internet Bank at 2.89% does sound good.



I opened a 24-month CD with First Internet Bank at 3.11%.

I know interest rates my rise again in 2020, but for now that sounds good to me, and it's not that long a commitment.

Message 11 of 18
Valued Contributor

Re: does anyone know if CIT Bank does hard inquiries?

Thanks guys, so $25k minimum or any monthly deposit greater than $100 will qualify for the rate. Still leaning towards Memory Bank, $50 minimum to get 2.40%, they also have a free checking that pays 1.6% with no requirements, could come in handy. Hopefully DaveInAz reads this post and gives us ACH details on Memory Bank.
Message 12 of 18
New Member

Re: does anyone know if CIT Bank does hard inquiries?


@oldman87 wrote:
Thanks guys, so $25k minimum or any monthly deposit greater than $100 will qualify for the rate. Still leaning towards Memory Bank, $50 minimum to get 2.40%, they also have a free checking that pays 1.6% with no requirements, could come in handy. Hopefully DaveInAz reads this post and gives us ACH details on Memory Bank.

I opened a checking+savings with Citibank for the $500 bonus, because think about it, how long would it take to earn $500 on $15k at the current interest rates? Even for $50k it would take five months. 

And after I get the bonus, I'll shop around for other options.

Message 13 of 18
Mega Contributor

Re: does anyone know if CIT Bank does hard inquiries?


@planetjul wrote:

I haven't tried DD on that, just transferred over funds from elsewhere.   I've gone off 12 month CDs at present as recent ones matured at the 1.85% range (which was great when I opened, now looks bad).  If rate increases slow down though, they look good again.  First Internet Bank at 2.89% does sound good.



I opened a 24-month CD with First Internet Bank at 3.11%.

I know interest rates my rise again in 2020, but for now that sounds good to me, and it's not that long a commitment.


Well, even now, ConnectOne Bank, 3.15 for a 23 month CD!

Message 14 of 18
New Member

Re: does anyone know if CIT Bank does hard inquiries?



Well, even now, ConnectOne Bank, 3.15 for a 23 month CD!


Maybe I missed it Smiley Happy, oh well. Not a big deal.

I mean, the difference on $50k is literally $20 a year.

Message 15 of 18
Community Leader
Valued Contributor

Re: does anyone know if CIT Bank does hard inquiries?


@oldman87 wrote:
Thanks guys, so $25k minimum or any monthly deposit greater than $100 will qualify for the rate. Still leaning towards Memory Bank, $50 minimum to get 2.40%, they also have a free checking that pays 1.6% with no requirements, could come in handy. Hopefully DaveInAz reads this post and gives us ACH details on Memory Bank.

OK, for Memory Bank -

1. Any fees for ACH push/pull?

 - No

 

2. Limitations for number of external accounts you can add?

 - Not sure, I have 4 linked currently

 

3. Any daily/monthly ACH limitation (dollar amount)?

 - Well, again not sure, I haven't done more than $1k so far

 

4. How quick is the ACH operation? Push/pull? How long do they hold funds after ACH pulling funds into this account?

- It was a standard 3 day, as in schedule a pull on a Wednesday and it was credited to my account Friday morning and no hold, available immediately. They had an "Express Transfer" that was a $3 fee as I recall, but a month or so ago I noticed there was now no fee for that. I have a direct deposit going into a local CU that I don't want to change for a couple reasons. So the past two months I've scheduled to the Wednesday transfer and the funds were credited & available in Memory Bank Thurs. morning, no fee.

 

The one drawback is Memory currently offers the only one checking & one Money Market. I opened the checking last May when they offered a $100 new account bonus, no longer available. Then they sent me an email last July for the money market which I opened. When logged in I don't see any option to add a new account. And you can fund new accounts with a credit card, not sure if there's a limit, I did $500 each for both accounts  on a BoA CC and it coded as "professional services", no cash advance fee.

.

I'm pretty happy with Memory Bank, and they've been right on top of being competitive on interest rates, I received an email yesterday that the MM was raised to 2.4%, while checking has been 1.6% for awhile. So I keep most of my funds in MM and schedule a couple transfers per month from MM to checking for up coming bills, easily staying under the 6 withdrawals per statement limit. You can call them at 877-757-3400 Monday to Friday7:30 am to 8:00 pm EST for any question.


Fico 08: 720/721/719 TU/EX/EQ
Message 16 of 18
Valued Contributor

Re: does anyone know if CIT Bank does hard inquiries?

Thanks Dave, I knew you can smell the phrase "Memory Bank" from 5 miles away. Smiley Tongue I'll probably see you at Memory in a few days.

Message 17 of 18
New Member

Re: does anyone know if CIT Bank does hard inquiries?



Well, even now, ConnectOne Bank, 3.15 for a 23 month CD!

They don't offer it now, btw: https://www.connectonebank.com/About/Resources/Rates/Personal-Account-Rates

That's the reason I haven't seen it listed on depositaccounts.com or bankrate, or any of those sites.

 

Their current promotion is 2.76% for 13 months: https://www.connectonebank.com/About/Resources/Rates/Online-Account-Rates

Message 18 of 18