Many people are working hard to save money in these tough times in the economy. However, it often becomes hard as the stock market is unstable, and most savings accounts offer rates of only a poor 1-2% interest rate. With interest rates so low, many people are asking how they can both save money, and see some kind of return on it. The answer? Reward checking accounts.
What’s so cool about these things? In short, they mean a 5% interest rate on your money in a secure holdings, even during this time when savings accounts and CDs are only getting rates of 1-2%. How does it do this? I have no idea… but it does, and it’s FDIC ensured… so is there really a reason to worry about it?
But there’s a catch. I know, I know, there’s always a catch. To get the benefits of these reward checking accounts, you need to do a certain set of requirements each month, or else your interest rate for the month is reset to.3%. The requirements aren’t anything wild though… you need to have one direct deposit or one auto bill a month, and you must make ten purchases a month on your debit card. TEN purchases in 30 days. Between groceries, gas, and odds and ends, I’m sure you can quickly rack up ten purchases.
Most of them have restrictions of 10-25,000$ so this won’t be the entire capacity of getting rich, but it’s a good starting point to store your savings. So now’s the time. Abandon your savings accounts and switch over to reward checking accounts and earn more interest today.