AMEX high yields savings account APR dropped to 1.9%

Salesforce pg776
Aug 21 22 Comments

Hey all,

Just got a message from AMEX saying they are reducing the APR to 1.9% (was 2.1%). What’s going on? Time to move my money or is this the same everywhere now?

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TOP 22 Comments
  • Facebook public2
    They fed lowered rates and are likely to again by as much as 50 basis. What do you mean what's going on?
    Aug 21 2
    • Salesforce pg776
      OP
      What’s going on meaning, are other banks lowering their savings APR, and if so why.
      Aug 21
    • Facebook public2
      Yes, again the fed (fomc) lowered interest rates. You are asking why the fed is lowering rates? In short to pump the economy.
      Aug 21
  • Shell / Supply/Log sweetbruh
    Move it to a vanguard bond fund. Get 4-6% every year and the worst year they’ve ever had was like -4.5% or something like that
    Aug 21 8
    • Shell / Supply/Log sweetbruh
      Yes, check the fund online
      Aug 21
    • Oracle / Eng aham
      Isn't this fund affected by market fluctuations?
      Aug 21
    • Shell / Supply/Log sweetbruh
      Yes, it’s a bond fund, but low risk low rewards. 80% bonds I believe. The high yield savings accounts give you a guaranteed 2% a year. These give higher than that on average, but you can also see down years. One year it might be up 8%, then next down 1/2%. On average though it’s much better
      Aug 21
    • Salesforce pg776
      OP
      What are the fees?
      Aug 21
  • Roku IMTfv72
    Wealthfront offers 2.32%
    Aug 21 1
    • Prudential / IT jacob4205
      go with wealthfront
      Aug 21
  • Microsoft tfsUEwWt
    "what's going on?" LOL. you should keep your money in a mason jar.
    Aug 21 0
  • Oscar
    🐨koala

    Oscar

    BIO
    I am a Koala. DM me if you want to cuddle.
    🐨koalamore
    Marcus
    Aug 21 0
  • Express Scripts / Eng
    esrxstar

    Express Scripts Eng

    PRE
    BlackBerry, Intuit, Cerner Corporation
    esrxstarmore
    I just saw now. It's 1.9. I'm considering to move my money to a No Penalty CD. The APR is 2.10 if the deposit is >24999.
    Aug 22 0
  • Uber usir
    Fed is dropping rates. This is expected.
    Aug 21 0
  • Microsoft
    Tier 1

    Microsoft

    BIO
    #1 in Prestige
    Tier 1more
    Move your money to $CXW
    Aug 21 0
  • Amazon LevelUpAWS
    Well if Trump gets all the rate cuts he been wanting the Federal Bank to do we will only be only be getting 0.50% interest.
    Aug 21 0
  • MathWorks M W
    Citi 2.36%
    Aug 21 0
  • LinkedIn / Eng 34d3h53hj
    Lol
    Aug 21 0

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