Am I hurting myself? - Car Payment

[NetSkyBlue]

What bank do you belong to that gives 3% on checking? ING is only paying .8 on savings now, I want in on that!

It's West Bank "Reward Me Checking". I think it's only in Iowa. I tried to post a link, but the forum won't let me since I don't have 15 posts yet. If you're in Iowa, it's a great deal.

I have a friend who works there who tipped me off about it several years ago, so I switched to their bank. It actually used to be 5% but they lowered it to 3% 2 or 3 years ago.

[BuckyBadger]

It's West Bank "Reward Me Checking". I think it's only in Iowa. I tried to post a link, but the forum won't let me since I don't have 15 posts yet. If you're in Iowa, it's a great deal.

I have a friend who works there who tipped me off about it several years ago, so I switched to their bank. It actually used to be 5% but they lowered it to 3% 2 or 3 years ago.

I googled!

https://www.westbankiowa.com/personal/checking

I had to put in my zip code (non-Iowa) to get to this page. The requirements are pretty stringent to get the 3%, so it would be hard to just park, say, out of state emergency funds there. They require:

Each statement cycle:

° 12 signature-based debit card transactions

° One direct deposit or direct payment

° Receive eStatement

[NetSkyBlue]

That just figures... I checked my email and I just received one from the bank saying they were lowering their interest to 2% APY 10 days from now. *grumble grumble* Nothing good ever lasts.

[maat55]

That just figures... I checked my email and I just received one from the bank saying they were lowering their interest to 2% APY 10 days from now. *grumble grumble* Nothing good ever lasts.

Are there swipe requirements on your debit card?

BTW, I agree with Steve, you should sell the car. Prioritization of debt freedom and building an emergency fund should come before a luxury car.

[Eric80]

It would be better if you could start saving however this is a tricky situation as you dont want to fall behind on payments - have you considered getting professional advice, say from the citizens advice bureau - they have some really good resource that you should definitely look into .