Archives for August 2008

Metropolitan National Bank is offering a $200 bonus for opening a free checking account. To qualify for this promotional checking account and bonus you do have to sign up for direct deposit of either a payroll check, government benefit or pension disbursement. The direct deposit has to be in place for six months. There is no minimum deposit to open the checking account. The $200 bonus will be credited to our account 30 days after the first full direct deposit is made.

Other benefits of the free checking account

• No minimum balance requirement
• Fast and easy online application process 
• No monthly fee
• No direct deposit requirement to open the free checking account, you must setup a direct deposit to qualify for the $200 bonus.
• Free VISA* check card
• Free online banking with free bill pay  

Metropolitan National Bank promo checking application

Whether you are purchasing a new home, refinancing an existing home or need a home equity line of credit (HELOC), you can get several quotes in minutes.  

MonitorBankRates.com has mortgage rate quote tables for all mortgage types. Traditional 30 year mortgages, 15 year mortgages, adjustable rate mortgages, 20 year mortgages and 40 year mortgages. Rates for conforming mortgages and jumbo mortgages. Interest only adjustable rate mortgages

MBR also has rate tables for home equity line of credit, home equity loans. Just enter your zip code and find lenders that provide loans in your state and compare rates.

Update: WTDirect has ended this promotion.

Now through September 5th, when you open a WTDirect Savings Account you will receive a bonus based on your deposit amount.  Customers that keep a balance for 60 days earning WT Direct’s high rate will receive a bonus of $100-$250.

Deposit and balance for 60 days             Bonus

$10,000                                                          $100

$15,000                                                          $150

$20,000                                                          $200

$25,000                                                          $250

Be sure to use the promotion code “WTF3SOB” when completing the online application!

Get a bonus of up to $250 when you open a WTDirect Online Savings Account

Washington Mutual Bank is offering one of the best CD rates, a promotional 13 month Certificate of Deposit (CD) with a 5.0% APY!

Here’s the scoop.

The minimum deposit is $1,000 and there isn’t a maximum deposit.

This WaMu promotional CD isn’t available online - you will have to visit your local WaMu Bank to sign up for this deal.

This 13 month CD rate is very competitive.  The national average for a 12 month CD rate is currently 3.62% as reported by bankrate.com.

You’ll have to hurry to take advantage of the special promo CD rate. It’s only available for a week but the deal is ending on August 29th.

Update: Wamu is also offering a 12 month CD with a 5.0% APY.  This CD rate is only available for their online CD, with a minimum deposit of $1,000. 

WaMu 12 month online CD

TransUnion, one of the three major credit reporting agencies, has settled a class-action lawsuit, the suit was filed against TransUnion because they were selling customer profiles to third parties, though the company denies any wrongdoing it has decided to settle the suit. TransUnion has setup a website for the settlement, www.listclassaction.com.

There are three different benfeit options to choose from:

1. You can register to receive your credit score for free for six months,receive a cash distribution if there is one and file an individual lawsuit against TransUnion.
2. Register to receive your credit score free for nine months but you won’t be able to receive a cash distribution if there is one and you will not be able to file an individual lawsuit.
3. Register to receive a cash payment if there is one, receive your credit score free for six months, if you do receive a cash payment you will not be able to file an individual lawsuit.

Considering that hardly anyone of us is going to file an individual lawsuit against TransUnion we like option number one the best ( $60 value) , unless you are trying to raise your credit score because you are going to purchase a house, then getting your credit score free for nine months, option two, might be better for you.

How to register:

• You must register before September 24th to receive any of the benefits.
• You have to provide your name, mailing address, email address, date of birth and the last four digits of your social security number.
• The benefits start after the court grants final approval of the settlement, you will be notified when that happens.
• After final approval has been granted you have six months to activate your benefits or free credit monitoring.

Register here for the TransUnion class-action settlement: settlement form

NewportFed is offering their eLoop Checking account that currently has an 5.51% APR for balances under $50,000. The minimum opening balance for this high yield checking account is $50. Any portion of the balance over $50,000 only earns a 1% APY. NewportFed is based in Newport RI, has been around since 1888 and is FDIC insured. You can open a checking account online or by calling (401)847-5500

Here are the requirements to qualify for the checking account rate.

1. Make at least 10 NewportFed Visa® Check Card purchases
2. Have one direct deposit or automated clearing house (ACH) debit transaction*
3. Receive statements electronically

You will need following information to open the account:

• Driver’s license or State ID
• Previous home address (if you have lived at your current home address for less than 2 years)
• Social Security number
• U.S. checking or savings account to fund the account.  This account requires an initial deposit between $50 and $75. After your account is opened, you will be able to transfer additional funds into it.
• You must be a U.S. resident
• You must be a U.S. citizen or a U.S. resident alien
• You must be at least 18 years of age

NewportFed eLoop Checking Account Application:

Chase bank will give you for opening a Chase Free Checking account with direct deposit. The offer is only for exsiting Chase customers. Look for for the $125.00 certificate with your monthly statement and bring it to your local Chase bank to open the account. The checking account can also be opened online using the following Chase coupon code: 3291873253508570. The bonus is deposited into the checking account within 6 weeks of opening the account. The offer ends 10/31/08

Critieria for receiving the $125 checking bounus

• You have to be an existing Chase Bank customer
• Limited to one personal checking account-related reward per customer per claendar year
• You must set up direct deposit within 60 calendar days of opening the account
• The account must remain open for 6 months

The free checking account has the following benefits:

• No monthly service fee when you have direct deposit or five or more debit purchases posted to your account each statement period.
• Free online bill pay
• Chase Check Card with zero liability
• Free email and voice mail account alerts

This offer excludes Chase’s High School Checking, College Checking, Chase Access Checking and the New Jersey Consumer Checking Account.

To use the code and receive the bonus be sure to click on “Need to redeem a coupon code?”

Coupon code: 3291873253508570

Chase Checking $125 bounus application

Figuring out how much interest you will receive when investing in a Certificate of Deposit (CD) is easy with a CD Rate Calculator. One enters the CD Rate term, initial deposit and interest rate and the CD calculator automatically calculates the return.

Some calculators also allow you to enter criteria such as how interest is compounded, usually daily or monthly. After the CD criteria is entered and calculated the ending balance, including interest earned and Annual Percentage Yield (APY) is given.

The Annual Percentage Yield is the effective annual interest rate earned on a CD. The CD’s APY depends on the frequency of compounding and the interest rate. The best way to compare the rate of return on a CD is using the APY since it is the actual interest you will earn on your investment, use the APY to compare CD’s of different interest rates and compounding frequencies.

 There are tons of CD Calculators out there to figure out the best CD Rate, MonitorBankRates.com also has a CD calculator CD Calculator . We also have a CD Ladder Calculator.

Bank of Internet is offering a high interest checking account that currently yields 3.40% APY. The minimum opening balance is $500. There is a monthly fee of $7.50 for checking accounts that have a average daily balance below $5000, no fees for balances above $5000.

High Interest Checking Account Benefits:

• ATM reimbursement (up to $8 per mo.)
• Free online bill pay
• Online images of statements & paid checks - accessible the day they are paid (5yr archive)
• Unlimited check writing
• Free initial checks
• Visa Check Card
• Overdraft protection available

Bank of Internet High Interest Checking Application: Apply Here

Most people are unaware there is a service called the Certificate of Deposit Account Registry Service, or CDARS, that greatly simplifies the process of depositing more then $100,000 in CD accounts to qualify for FDIC insurance. The network of over 2000 banks is overseen by the FDIC and only banks with the highest FDIC rating can participate.

How does the CDARS service work?

Customers only have to work with one bank and only make one deposit. Their CD deposit is split across the network of banks of just under $100,000 to qualify for FDIC insurance. You can choose CD terms between 1 month to 5 years and you earn the same CD rate across all banks.

You receieve one statement that details your CD investments in all banks. There are no transaction fees, annual fees or fees of any kind. Since your CD deposits are fully insured by the FDIC you do not have to collateralize your deposits.

Watch this short video on how CDARS works CDARS video

Locate a CDARS member bank by state here: CDARS bank locater by state

CapitalOne Bank is offering the following CD rates and Jumbo CD rates. The minimum deposit required to open a non-jumbo Certificate of Deposit is $5,000 and The minimum deposit required to open a jumbo Certificate of Deposit is $100,000. These rates are as of 7/31/08. The rates are very competitive and are some of the best cd rates offered today.

Regular Certificate of (CD) Deposit Rates

Jumbo Certificate of (CD) Deposit Rates

CapitalOne Bank Certificate of Deposit (CD) Application

ING Bank is offering tiered rates on their Orange Checking Account. The rate for balances under $50,000 is 1.75% APY , $50,000 and over the rate is 3.20% APY, $100,000 and over the rate is 3.40% APY.  The good news is your entire balance receives the same rate once you reach the minimum threshold. 

Another neat feature about the checking account is ING’s Send Paper Checks service, checking writing is done online and ING sends a paper check via first-class mail the following business day, the best part is, you don’t have to pay for postage or envelopes!

The ING Bank Orange Checking Account Benefits:

• Free Online Bill Pay
• Debit Card
• Free Electric Checks- Send money to other bank accounts
• Overdraft Line of Credit
• You don’t need an ING Direct account
• No fees for having the account, but you can incurr fees for stopping payment, sending a check overnight using the Send Paper Check service and using the debit card for foreign transactions (currently 2%).

ING Bank Orange Checking Account Application

FlagStar Bank is offering a money market account rate of 3.65% APY. The minimum opening balance is $1.00 and you can open an account online at FlagStar Bank or by calling 1-800-642-0039. The money market account also includes check writing privigles (you do not have to open a seperate checking account) with online banking, free bill payment and banking by phone or PDA.

Benefits of the FlagStar Money Market Account

• No minimum balances
• Free Checks for life
• Visa Debt Card
• Free ATM Withdrawals
• Free postage paid deposit envelopes to mail your deposits.
• Free bill payment
• Banking by phone or PDA

FlagStar Bank Express Money Market Account Application