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.
November 23rd, 2005 at 12:33 pm #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.
January 19th, 2006 at 7:22 pm #>> ING Direct does 4.75% @ Alex Moskalyuk Online
[...] ING Direct’s message to the world has always been about no gimmicks and guaranteed rates. However, first Emigrant Direct and then HSBC managed to offer better APY than ING Direct. So currently ING Direct is running a promotion for new money only, offering 4.75% APY on any deposit that comes in after January 19th. Which makes you wish you had $1 left on the account with ING yesterday, so that you could fill it up to the top now. The promotion, and the 4.75% rate, ends April 15th, so on April 16th the money will earn usual ING Direct rate, which right now is at 3.80% APY. [...]
July 15th, 2006 at 1:54 pm #>> Emigrant Direct to raise rate on July 28th to 5.15% APY @ Alex Moskalyuk Online
[...] Emigrant Direct to raise rate on July 28th to 5.15% APY Emigrant Direct, locked in a bitter war with HSBC Direct (currently at 5.05%), will raise the savings rate to 5.15% APY on July 28th. [...]
July 24th, 2006 at 3:29 pm #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.
July 25th, 2006 at 6:23 pm #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.
August 28th, 2006 at 5:52 am #John
I am really tired of not being able to access the Emigrant.com website. When are they going to get this fixed?