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CIT Bank Platinum Savings: Earn Up to Expired

5.00% APY*
+161 Deal Score
438,990 Views
Update: This deal is still available.

CIT Bank our partner, offers the following benefits with their Platinum Savings account.
  • Must have a minimum daily balance of $5000 to earn 5.05% -> now 5.00% APY
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
Slickdeals may be compensated by CIT Bank
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Original Post

Written by
Edited September 17, 2024 at 01:36 PM by
CIT Bank our partner, offers the following benefits with their Platinum Savings account.
  • Must have a minimum daily balance of $5000 to earn 4.85% APY
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
Slickdeals may be compensated by CIT Bank
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Created 07-27-2023 at 09:27 AM by EfficientGame645
in Financial Tools & Services (6) CIT Bank
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Deal
Score +161
438,990 Views
5.00% APY*

Community Wiki

Last Edited by Punishark September 3, 2024 at 10:45 AM
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.


APYs — Annual Percentage Yields are accurate as of September 3, 2024:

0.25% APY on balances of $0.01 to $4,999.99;

5.00% APY on balances of $5,000.00 or more.


Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

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I've been banking with them for nearly 5 years. No major problems. My only issue is that their phone app is severely limited & kind of sucks. Other than that, if you send money, it arrives quickly & interest rates automatically raise without having to contact them. They seem to stay pretty competitive when it comes to the highest interest rate. I really like them & trust them with my money.

UPDATE: As of 06 NOV 23, the app on Android has been updated and reflects a top tier online banking experience. Very happy with the improvements that have been made.
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You have more issues than just missing out on $10k!
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Have been banking with them for many years. No issues, fast transfers, can manage everything online including closing accounts. Only negative is that their phone support sucks since they encourage online banking only, and they keep adding new account types with higher rates, and you have to open an account and transfer money to new account (which is pretty painless and done within minutes online)
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Joined Dec 2018
Master of my Own Domain
> bubble2 2,450 Posts
402 Reputation
HonestMammoth473
03-10-2024 at 01:30 PM.
03-10-2024 at 01:30 PM.
Quote from irismedia View quoted comment :
can you please share what link are you using? I am also using Chrome and i have this link https://secure.citbank.com/CITConsumer/#/Login
That's the one. I go to cit.com > sign in > online banking. Then it takes me to the link you posted. No issues logging in that way through Chrome. Try clearing your cache/cookies.
Reply
Joined Sep 2013
L7: Teacher
> bubble2 2,073 Posts
66 Reputation
ranibane0309
03-10-2024 at 11:27 PM.
03-10-2024 at 11:27 PM.
Quote from zmm61 View quoted comment :
My experience as well. It will take less time when you transfer again, but could be 3-5 business days to see your money.
What do you mean you couldn't see the transferred money?

I can understand if its not showing under Available Bal however Current Bal should reflect it.

ACH speed nowadays is pretty good gets credited within 1-3 days.
Reply
Joined Sep 2013
L7: Teacher
> bubble2 2,073 Posts
66 Reputation
ranibane0309
03-10-2024 at 11:30 PM.
03-10-2024 at 11:30 PM.
Quote from prsf View quoted comment :
Via special link and process not allowed to be posted here, no refer needed or involved, PM for details LOL
Please PM
2
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Joined Dec 2017
L2: Beginner
> bubble2 37 Posts
22 Reputation
bellacpa
03-23-2024 at 11:19 AM.
03-23-2024 at 11:19 AM.
Quote from JSP0421 View quoted comment :
Has anybody banked with them before? I was just looking at them over the weekend but don't know anyone that uses them.

I do have saving account with CIT. No complaints.
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Joined Aug 2011
L3: Novice
> bubble2 291 Posts
45 Reputation
Ad0nis
03-26-2024 at 09:53 AM.
03-26-2024 at 09:53 AM.
If you're not aware, their app has a serious major issue that's been lingering for more than 3 months and they haven't fixed it yet. The issue is two-factor authentication that prevents users from logging on due to a supposed random phone number being displayed when choosing which device to send the code to.
This to me is a huge red flag. This should have been fixed immidiately but it's going on 4 months now and still can't log in through mobile app due to this issue. I wouldn't trust them with more than $500 on my account.
Reply
Joined Oct 2011
L3: Novice
> bubble2 151 Posts
30 Reputation
blackmarlin8
03-26-2024 at 10:03 AM.
03-26-2024 at 10:03 AM.
Instead of going through hassles of opening new accounts etc,
if you have treading account, just fund it and get $USFR.

USFR has a dividend yield of 5.32% and paid $2.67 per share in the past year.
The dividend is paid every month and the last ex-dividend date was Mar 22, 2024.
Reply
Joined Dec 2003
L5: Journeyman
> bubble2 819 Posts
270 Reputation
Kingstar4u
03-28-2024 at 08:43 AM.
03-28-2024 at 08:43 AM.
Quote from JollyBanana2146 View quoted comment :
Ivy bank 5.30
Brio Direct bank 5.35%
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Joined Jun 2010
L2: Beginner
> bubble2 28 Posts
10 Reputation
Dc1m
03-29-2024 at 02:02 PM.
03-29-2024 at 02:02 PM.
Bask Bank has been 5+% for more than half a year now (now 5.1%)... and having used CIT Bank before, I liked Bask Bank's online system better; very fast for transfers. And they are official American Airlines partner.
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 786 Posts
119 Reputation
Diz
03-29-2024 at 02:49 PM.
03-29-2024 at 02:49 PM.
Quote from blackmarlin8 View quoted comment :
Instead of going through hassles of opening new accounts etc,
if you have treading account, just fund it and get $USFR.

USFR has a dividend yield of 5.32% and paid $2.67 per share in the past year.
The dividend is paid every month and the last ex-dividend date was Mar 22, 2024.
Damn, I was in XHLF, then SGOV, but now I need to consider USFR. Thanks for the heads-up.
Reply
Joined Feb 2007
L7: Teacher
> bubble2 2,131 Posts
226 Reputation
techie333
03-29-2024 at 03:39 PM.
03-29-2024 at 03:39 PM.
Quote from Diz View quoted comment :
Damn, I was in XHLF, then SGOV, but now I need to consider USFR. Thanks for the heads-up.

Can you list opinion after considering? I'm on same path...
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 786 Posts
119 Reputation
Diz
03-30-2024 at 09:12 AM.
03-30-2024 at 09:12 AM.
Quote from techie333 View quoted comment :
Can you list opinion after considering? I'm on same path...
I'm strongly leaning towards adding a position. Check out this great post I found.

https://www.reddit.com/r/Boglehea...est_return
Reply
Joined Feb 2007
L7: Teacher
> bubble2 2,131 Posts
226 Reputation
techie333
04-01-2024 at 10:14 PM.
04-01-2024 at 10:14 PM.
Quote from Diz View quoted comment :
I'm strongly leaning towards adding a position. Check out this great post I found.

https://www.reddit.com/r/Boglehea...est_return [reddit.com]
Wow great info! Thanks for sharing, I think USFR is the way to go cutting out all the middlemen banks and HYSA
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 786 Posts
119 Reputation
Diz
04-02-2024 at 02:30 PM.
04-02-2024 at 02:30 PM.
Quote from techie333 View quoted comment :
Wow great info! Thanks for sharing, I think USFR is the way to go cutting out all the middlemen banks and HYSA
I made a significant move into USFR today. Just keep your eyes on the general market and I think that it's a no-lose proposition for someone that is looking to be risk-adverse, which is my current stance. I don't have all of my eggs in this basket, but I think this is the best of the best in its class.
Reply
Joined Apr 2014
L6: Expert
> bubble2 1,608 Posts
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DayaO
04-03-2024 at 09:30 AM.
04-03-2024 at 09:30 AM.
I am thinking about parking my 100k here. That's my down payment for mortgage that I probably need about an year or so from now. Is it safe enough? Plus any restrictions to withdraw, let's say 12 or 18 months from now. Thanks in advance. Also any other better options besides stocks n investments etc...
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Joined Jan 2008
L5: Journeyman
> bubble2 786 Posts
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Diz
04-03-2024 at 09:58 AM.
04-03-2024 at 09:58 AM.
Quote from DayaO View quoted comment :
I am thinking about parking my 100k here. That's my down payment for mortgage that I probably need about an year or so from now. Is it safe enough? Plus any restrictions to withdraw, let's say 12 or 18 months from now. Thanks in advance. Also any other better options besides stocks n investments etc...
I'm retired, so how I'm diversifying my savings is based heavily on more risk-adverse holdings than non risk-adverse. But I am also looking to buy one last property at the end of this year, so ultimately, I'm now heavily in USFR, but also have many laddered 12 month CDs that I may or may not renew as they mature, and one primary HYSA with CFG Bank (5.25% APY currently). I also have a smidge in crypto (BTC/ETH only) in case that continues to blow-up for whatever reason -- I'm just letting them ride at this point with a stop gap sell order for each -- and a handful of blue-chip stocks/tech heavy ETFs like AMZN, GOOG, and VOO that I'm letting continue to run while they're winning, also all with stop gap sell orders.
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