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Am I hurting myself? - Car Payment

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    #16
    Originally posted by edg126 View Post
    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.

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      #17
      Originally posted by NetSkyBlue View Post
      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

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        #18
        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.

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          #19
          Originally posted by NetSkyBlue View Post
          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.

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            #20
            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 .

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