Emigrant Direct raises APY to 4.00%

So feds raise the interest rate another quarter-point today and warn about the future rises, so Emigrant Direct decides to beat them to the punchline and raise the rate to the sweet 4.00% APY. This is precisely where 3-month CDs can not compete anymore, 4.25% 6-month CD from eBank makes sense until the Feds raise the interest once again (plus eBank pulls your credit report, as I found out), and even 1-year rates like 4.40% APY from Ascensia suddenly look not too attractive.

What’s even better? Emigrant is launching a cashback credit card:

Additionally, we are also pleased to announce the upcoming launch of a no-fee credit card from EmigrantDirect offering the highest cash back rebate in the country on all your purchases – from the first dollar spent on your card to the very last. This revolutionary credit card featuring platinum-level benefits will be offered only to EmigrantDirect customers and be available before yearend. Cash back amounts will be deposited into your American Dream Savings Account automatically not once, but twice a year for added convenience. If you would like to be sent a priority invitation to apply for the card once it becomes available, please send a quick email with your name and email address to emigrantdirect@emigrant.com.

Posted Tuesday, September 20th, 2005 under Money.
  • Trueheart

    Still no response from emigrant after the inital 9/23/05 email promising follow-up within 2 weeks and the “card in your hands” by thanksgiving.

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  • cpiad

    Along with increasing their “direct” e-banking “parking” rate to 5.15%, Emigrant Direct has improved their website. The primary improvement is making it near impossible to log on to the site. Another vast improvement, once you somehow overcome the hurdle of getting the web site to respond and you are able to log in; is the surprise crashing of the site after you have entered about 20 minutes of meaningless security enhancing information. Finally another great addition to the site is its ability to lock your computer by disruption Internet Explorer requiring the user to make a hard stop of Explorer or a reboot. Great going Emigrant Direct, they ought to win a prize for website efficiency and productivity – call it the Goerge W. Bush Presidential Prize … that would be apt.

  • Arob

    I’m having problems accessing my Emigrant Direct account also. I have quite a bit of money (well, in my opinion) sitting with them, and I’m getting weary considering I have no real proof that the money is mine. They need to get their website up and running to ease the concerns of their customers.

  • http://jongodstergmail.com John

    I am really tired of not being able to access the Emigrant.com website. When are they going to get this fixed?