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Capital One raised interest rate to 1.6%

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    Capital One raised interest rate to 1.6%

    Just got an email stating that the rate for the 360 Money Market account is raised to 1.6%. Never thought that I would be happy to be earning 1.6% interest, but here we are.

    #2
    Originally posted by msomnipotent View Post
    Just got an email stating that the rate for the 360 Money Market account is raised to 1.6%. Never thought that I would be happy to be earning 1.6% interest, but here we are.
    The means that the cost of borrowing is going up as well...
    Never underestimate the power of stupid people in large groups.

    -George Carlin

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      #3
      I took advantage of the CapOne360 12-month cd at 2.1%.

      Basically put 2019 school taxes in there so I'm set for next year on that large bill.

      ETA: I have had the Savings account for a long time (ING days). I am annoyed that the money market account has the higher rate than savings account. Semantics really so why should I have to convert to the MM...

      and as disneysteve pointed out 10k+ balance for the higher rate in MM.

      at my credit union my son gets 1.5% for anything at or below $500 (Youth savings account).
      Last edited by Jluke; 04-27-2018, 10:00 AM. Reason: rant/info

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        #4
        Originally posted by msomnipotent View Post
        Just got an email stating that the rate for the 360 Money Market account is raised to 1.6%.
        To be complete, that is the rate for balances of $10,000 or more.
        For balances under $10,000, the rate is 0.85%.

        If you don't expect to hit the 10K mark, there are better options. Capital One's savings account pays 1% but Ally pays 1.5%.
        Steve

        * Despite the high cost of living, it remains very popular.
        * Why should I pay for my daughter's education when she already knows everything?
        * There are no shortcuts to anywhere worth going.

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          #5
          Originally posted by TexasHusker View Post
          The means that the cost of borrowing is going up as well...
          Yep. I just refinanced our ARM to a 30 year last week and the rates already went from 4.6% to 4.75. Our mortgage broker said that he would be shocked if rates did not hold steady at 5% or more by the end of the year. But 5% is still pretty cheap. I remember having 8% with excellent credit.

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