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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

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
Created 07-27-2023 at 09:27 AM by EfficientGame645
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
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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679 Comments

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Featured Comments

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.
You have more issues than just missing out on $10k!
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 Apr 2008
L4: Apprentice
> bubble2 343 Posts
342 Reputation
Nickb1907
06-18-2024 at 12:25 PM.
06-18-2024 at 12:25 PM.
Just tried the rate bump trick. I did transfer immediately, put in 10k, hit transfer and got a pop up to confirm. I cancelled it and did it again at 50k. This time instead of a popup to confirm I got the offer. When accepting I got a page loading error so I tried the trick again and it took 2 tries like before to get it to appear (tried 50k in both attempts).

Current APY
5.00%
Current Interest Rate
4.879%
Interest Rate Increase
0.096%
New Interest Rate
4.975%
New APY
5.10%
Effective Date
06/18/2024
Reply
Joined Dec 2008
L4: Apprentice
> bubble2 379 Posts
83 Reputation
Dominican1NYC
06-18-2024 at 04:21 PM.
06-18-2024 at 04:21 PM.
Quote from phoshizzlez View quoted comment :
Is the promo rate popup showing up in the app or website when trying to initiate a transfer?
Worked for me on the app. Tried to move a small amount twice, it didn't work. Tried to move half of my balance & that triggered the offer.
Reply
Joined Sep 2013
L3: Novice
> bubble2 255 Posts
33 Reputation
chaz0789
06-18-2024 at 06:10 PM.
06-18-2024 at 06:10 PM.
Flagstar aka my banking direct is at 5.55% as long as it's 1k or more.
2
Reply
Joined Aug 2009
Buy Now. Think Later.
> bubble2 17,767 Posts
8,306 Reputation
Pro
PocketsThick
06-19-2024 at 06:43 AM.

Our community has rated this post as helpful. If you agree, why not thank PocketsThick

06-19-2024 at 06:43 AM.
Quote from chaz0789 View quoted comment :
Flagstar aka my banking direct is at 5.55% as long as it's 1k or more.

Look how much money you can move a month out of that account. CIT is VERY rare in that the monthly withdrawal cap is massive. Some people are putting the FDIC limit into these banks $250k in cash. Most banks with high APY will only let you withdrawal like 10k-30k in cash a month. Your money would be held hostage for over a year. 😬😳
1
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Joined Jan 2024
L2: Beginner
> bubble2 49 Posts
18 Reputation
JollyClover1887
06-20-2024 at 12:08 AM.
06-20-2024 at 12:08 AM.
great deal😀
Reply
Joined Apr 2006
Whats next
> bubble2 590 Posts
141 Reputation
FormallyKnownAs
06-20-2024 at 07:46 AM.
06-20-2024 at 07:46 AM.
Tried to xfer $10k and got the promo offer on the first attempt 😊
Reply
Joined Apr 2015
L5: Journeyman
> bubble2 996 Posts
58 Reputation
FNwoz
06-20-2024 at 08:27 AM.
06-20-2024 at 08:27 AM.
Did the promo trick. Worked for both my account and my mom's. Awesome.
Reply

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Joined Aug 2011
L3: Novice
> bubble2 291 Posts
45 Reputation
Ad0nis
06-20-2024 at 10:01 AM.
06-20-2024 at 10:01 AM.
Had to close my account because I was never able to log in using mobile app. 2FA always showed a random phone number to send code to. Called customer support (if you could call it that) multiple times and issue remained for 5 months. It's an isolated issue but it's a documented issue dating back to August of last year in which many customers had the same issue. I can't trust them with my money when their security feature doesn't work and their developers can't fix the issue in less than 6 months (to be generous). Google "CIT bank showing an unknown number" if you want to read up on the issue.
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Joined Nov 2011
L2: Beginner
> bubble2 47 Posts
18 Reputation
stevems20
06-20-2024 at 07:55 PM.
06-20-2024 at 07:55 PM.
Quote from Ad0nis View quoted comment :
Had to close my account because I was never able to log in using mobile app. 2FA always showed a random phone number to send code to. Called customer support (if you could call it that) multiple times and issue remained for 5 months. It's an isolated issue but it's a documented issue dating back to August of last year in which many customers had the same issue. I can't trust them with my money when their security feature doesn't work and their developers can't fix the issue in less than 6 months (to be generous). Google "CIT bank showing an unknown number" if you want to read up on the issue.

I had a relatively similar issue. I was inputing my username wrong so I kept failing the log in. I thought ok I'll reset the password, but I kept inputing wrong username for the password reset so it kept prompting a phone I didn't not recognize. I was worried because I thought someone else had access to my account. I called CS and they went through security process. Then they told me I was inputting the wrong username when trying to reset password. So I asked why did it prompt to send a code to a phone I didn't recognize or register? And they said that number that popped up was made up by the system itself. It didn't belong to anyone. However if I Inputted my correct username for my password reset. It would give me my actual number. It was very confusing, but they walked me through it and resolved it. That's how I figured out that weird phone number mix up.
Reply
Joined May 2008
Somewhere in Time
> bubble2 762 Posts
217 Reputation
gr8nrg
06-20-2024 at 08:54 PM.
06-20-2024 at 08:54 PM.
Quote from lenser View quoted comment :
Any experience with Forbight?
yes, 2 years with both CDs and Savings accounts. Excellent and easy.
Reply
Joined Nov 2006
L3: Novice
> bubble2 196 Posts
110 Reputation
dbcmeplease
06-20-2024 at 09:15 PM.
06-20-2024 at 09:15 PM.
Quote from leeh8543 View quoted comment :
I did what you did, I scheduled. for the transfer and didn't see it. So I hit do it immediately and then it worked Hope it helps you.

thank you. did just that and it worked perfectly
Reply
Joined May 2014
New User
> bubble2 12 Posts
leeh8543
06-21-2024 at 04:13 PM.
06-21-2024 at 04:13 PM.
Quote from dbcmeplease View quoted comment :
thank you. did just that and it worked perfectly
great! glad to hear it.
Reply
Joined Mar 2014
L5: Journeyman
> bubble2 503 Posts
30 Reputation
annonymous999
06-22-2024 at 10:05 AM.
06-22-2024 at 10:05 AM.
Quote from Dominican1NYC View quoted comment :
Yes, it does.

Go with Vanguard Vusxx it keeps it in government obligations and at the end of the year it posts a percentage that usually around 90% that you don't have to pay state taxes on and it pays a higher rate. the sheet doesn't put the ticker symbol but the full name that's the only thing I don't like on it but it's better savings they've been paying 5.41% compounded for like over a year compared to this trash.
Reply
Last edited by annonymous999 June 22, 2024 at 10:13 AM.
Joined Aug 2015
L1: Learner
> bubble2 20 Posts
10 Reputation
bobthq
06-23-2024 at 07:15 AM.
06-23-2024 at 07:15 AM.
Quote from kqian111 View quoted comment :
I've had this account for a while and tried to move money out to another bank. During the transfer request, they actually prompted a retention offer to give me an extra 0.0096% interest on top of the current rates for the next 12 months. This results in an APY of 5.10%. I guess i will keep it there for now unless their rates slip further.

Thank you so much. I just tried it and it worked.
At first I tried to transfer out 10k, nothing happened. I clicked cancel. Then tried again with 50k and they offered me a rate bump for 12 months resulting in 5.1% APY
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Joined Aug 2015
L1: Learner
> bubble2 20 Posts
10 Reputation
bobthq
06-23-2024 at 07:16 AM.
06-23-2024 at 07:16 AM.
Quote from Nickb1907 View quoted comment :
Just tried the rate bump trick. I did transfer immediately, put in 10k, hit transfer and got a pop up to confirm. I cancelled it and did it again at 50k. This time instead of a popup to confirm I got the offer. When accepting I got a page loading error so I tried the trick again and it took 2 tries like before to get it to appear (tried 50k in both attempts).

Current APY
5.00%
Current Interest Rate
4.879%
Interest Rate Increase
0.096%
New Interest Rate
4.975%
New APY
5.10%
Effective Date
06/18/2024

I just did it exactly like you and it worked like a charm, thank you so much ☺️
Reply
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