Community Chat

[gidgetgh]

I have a cd that matures tomorrow.  The bank's current cd rates aren't all that great.  And I really don't have a lot of time right now to search out other sources.

I have a Discover card and was online this morning and saw that they're offering a 12 month cd right now for 5.00% interest.  

Has anyone ever used them for a cd?  They're FDIC insured, but I am sometimes hesitant to try something new.

[millieshops]

@gidgetgh   I have no Discover bank experience, but  if you have time, take at quick look at Bankrate and see if they're included and rated.  

[scatcat]

DD uses both Ally and Discover online banking. No issues. You can call Discover with any questions (I did). I believe deposits and withdrawals are thru an ACH.

Happy to make high yields on accounts!

[gidgetgh]

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@millieshops wrote:

@gidgetgh   I have no Discover bank experience, but  if you have time, take at quick look at Bankrate and see if they're included and rated.  

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@millieshops - thanks. I've used Bankrate before.  You just have to wade through so many options that I'm not interested in, but I'll take another look to see if they give a rating for Discover.

[gidgetgh]

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@scatcat wrote:

DD uses both Ally and Discover online banking. No issues. You can call Discover with any questions (I did). I believe deposits and withdrawals are thru an ACH.

Happy to make high yields on accounts!

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@scatcat - yeah.  Right now, the interest rates are in favor of those who get cd's and high yield money markets.  I have a high yield account with American Express and have never had issues with it.  I've had a Discover card for many years with no issues so I might just take the plunge with them. I love the 5.00% rate. My bank is offering 3.5%. I called another local bank this morning and they're offering 2.00% for 12 months. In case the rates start dropping, I really want to lock in with a cd for this.

[SloopJohnB]

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@gidgetgh wrote:

I have a cd that matures tomorrow.  The bank's current cd rates aren't all that great.  And I really don't have a lot of time right now to search out other sources.

I have a Discover card and was online this morning and saw that they're offering a 12 month cd right now for 5.00% interest.  

Has anyone ever used them for a cd?  They're FDIC insured, but I am sometimes hesitant to try something new.

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@gidgetgh  My family and myself have many CD's with Discover, including both Roth and Traditional IRA ones, too.  No problem whatsoever.

[occasionalrain]

I have three CDs with Discover and a savings account that pays over 3%. Transfer are easy, six a month are free. I leave money there and just transfer what I need to pay bills when they come due. 

[KailaS]

Discover bank is easy to work with. So is Capital one 360. Capital One currently has savings at 4.3% and a 10 month CD, at 5.3%. Good luck. 

[Meowingkitty]

I got a couple of CD's, 1 in Sept and 1 in October and both were well over 5.5%. One cd is from Wells Fargo and the other is BofA. Of course things may have changed in the past couple of months.

[gidgetgh]

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@Meowingkitty wrote:

I got a couple of CD's, 1 in Sept and 1 in October and both were well over 5.5%. One cd is from Wells Fargo and the other is BofA. Of course things may have changed in the past couple of months.

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@Meowingkitty - I called Chase Bank near me this morning and their 12 month rate is 2.00%. My bank, Truist, is 3.50%.

We have Wells Fargo and BofA here.