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Capital One: 11-Month 360 CD Expired
5% APY
(No Minimum Deposit)
Update: this extremely popular deal is still available.
Capital One is offering a 11-Month 360 Certificate of Deposit at 5% APY with no minimum deposit.
Thanks to Community Member ginger_ale for finding this deal.
Capital One is offering a 11-Month 360 Certificate of Deposit at 5% APY with no minimum deposit.
Thanks to Community Member ginger_ale for finding this deal.
Original Post
Written by
Edited February 24, 2023
at 12:11 AM
No minimum balance required.
Expires 3/15/23
https://www.capitalone.
Full CD Disclosure
https://www.capitalone.
Expires 3/15/23
https://www.capitalone.
Full CD Disclosure
https://www.capitalone.
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When they offer the new 4 week and 8 week and 13 week t-bill (they auction on diff days and diff weeks) go in and buy one of each of them with whatever money you can spare. Let's use 5k for each.
I would buy a 4 week t-bill with NO Rollover for 5k
I would buy an 8 week t-bill with NO Rollover for 5k
I would buy a 13 week t-bill WITH Rollover for 5k
Then after 4 weeks when that first on comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Then after 8 weeks when the second comes up, buy another 13 week t-bill with the 5k WITH Rollover.
Now you will have 3 13 week t-bills rolling every 4 weeks or so and rolling into a new one with the proceeds. This way every 4 weeks you are capturing an increasing rate and not locked into anything longer than 13 weeks. You benefit from the rate hikes, can cash out at any time, and you have state tax shelter from the earned interest.
I can almost guarantee that the above will yield you more net income (taking in tax break) at the end of 11months then the 5% locked CD
just my 2cents
Fidelity Fixed Income Page [fidelity.com]
Follow the above link and scroll down to the row "U.S. Treasury." Choose the duration you want and click on it. You can then click "buy" to start a trade of a specific treasury bill/bond.
Fidelity's Intro to Treasuries [fidelity.com]
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Maybe start here [fidelity.com].
Thanks for sharing!
Q: How do you think people build wealth?
A: Working, investing, saving, and spending intelligently are all important.
There is a good book called The Millionaire Next Door. It blows the lid on who the true self made millionaires are and its not who you think.
Back in early 10s, there were Walmart shoppers on fatwallet finance (stock trades) thread worth 5m+. Lmao
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That said, I think it's all a bit misleading to showcase the 5% APY since it assumes 12 months, where as the term is for 11. So, you won't see a 5% yield until 12 months have passed, but that means you'll automatically be opted into another 11 month CD at an unknown rate and subject to a 3 month interest penalty.
Earn 5% - pay 3% fee. Tax on 5% minus 3% interest. Assume no state taxes (in Texas).
What am I missing besides temporarily lowered credit score (high credit usage) and possibility to forget to pay min payment or closing at 12 months?
Earn 5% - pay 3% fee. Tax on 5% minus 3% interest. Assume no state taxes (in Texas).
What am I missing besides temporarily lowered credit score (high credit usage) and possibility to forget to pay min payment or closing at 12 months?
How: Stonks. Lots of gains since 2010, ScubaDave. Yes, a lot of people have an exaggerated idea of relatively mild wealth.
I wasn't hypothesizing, we FWers used to avidly share trades back then before stocktwits etc. but yes I totally agree, hold off on the yuge mansions but otoh it's OK to buy a ribeye cap, kids!
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I've been a customer of Capital One (IngDirect originally) since 2004. I had their "360 Savings account". Capital One claimed it is a high interest account and rates will fluctuate based on Federal reserve interest rates.
Apparently, some years ago they started a new savings account called "360 Performance Savings" with much higher interest rates. The new Performance savings has a interest rate of 3.4% as of today. While the legacy account is only at 0.3% and it stopped fluctuating with Fed rates many years ago.
So I lost a lot of money over the years as my savings account silently turned into a regular savings account and stopped being a high interest account.
They didn't inform established customers of the new Performance savings account and kept people like me at 0.3%. At a minimum, they should have informed existing customers of this new account type.
I learned about this new account a couple of days ago. This is clearly bad faith behavior by the bank. I am in the process of closing out my account. I can never trust Capital One again. You should not do this to long term customers to make a few bucks.
Search online for "womens money capital one cheated high interest accounts" to find other customers that got cheated the same way.