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Looking for high interest account.


MannyLNJ
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The last post in this topic was posted 1339 days ago. 

 

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57 minutes ago, srloring13 said:

Depending on your monthly banking activity you might want to also consider a rewards checking account. Some pay 3-4% but have deposit caps between 10k-20k.


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thoser plans often require debit card transactions with are very risky and should be avoided.

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I have not been able to do much research due to some health issues my wife has. Here is my current scenario

 

I inherited about 250K  combined from the sale of my father's house and what was left in his checking account after my aunt raided what she could (she was the executor of the estate and sent me no accounting of the accounts)

 

My wife inherited about 110K from the sale of her parent's house in Israel. 

 

Last week my wife bought a new car for me 0%$ for 3 years Monthly payment is $990 a month. I will pay off the car using the 250K I inheiated so I need a liquid account. My first thought was to put 4000 in a checking account then do a CD Ladder for 3 months, 6 months, 1 year, and two years to then replenish the checking account but with interest rates going up I didn't want to lock the money away and possibly lose a decent amount of interest. 

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4 hours ago, cv91915 said:

Pick two of the top five from this list and move half of the money to each until you decide:

 

http://www.fragiledeal.com/t/best-nationally-available-high-apy-liquid-accounts/2349/2

 

Wait at least a year before you buy any more big ticket items you wouldn't have purchased a year ago.

Thank you. Opening a money market and checking account there.  The only big ticket items are ones we planned on with the money. The first is solar panels for the house. We are buying them outright not a lease. Also, we need to fill in a collapsed swimming pool and add some enhancements to our house.

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6 hours ago, MannyLNJ said:

I inherited about 250K  combined from the sale of my father's house and what was left in his checking account after my aunt raided what she could (she was the executor of the estate and sent me no accounting of the accounts)

 

50 minutes ago, MannyLNJ said:

Thank you. Opening a money market and checking account there.  The only big ticket items are ones we planned on with the money. The first is solar panels for the house. We are buying them outright not a lease. Also, we need to fill in a collapsed swimming pool and add some enhancements to our house.

🤔

 

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8 hours ago, MannyLNJ said:

Thank you. Opening a money market and checking account there.  The only big ticket items are ones we planned on with the money. The first is solar panels for the house. We are buying them outright not a lease. Also, we need to fill in a collapsed swimming pool and add some enhancements to our house.

Planning to spend money that wasn't yours doesn't count.

 

Slowly pay for things you actually need (contrast with want) in priority order using only the interest you earn on the money. 

 

Once the needs are met, move on to wants, again in priority order.

 

2.5% on $360,000 will get you $9,000 a year you didn't have before. 

 

Don't let the principal run down the inside of your leg.

 

 

Edited by cv91915
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And I was turned down due to my Chex report. Next step is to have my wife apply only in her name without it being a joint account.  

 

<my name and adresss>

 

Dear <me>,

We regret we cannot open your account and/or add your name as an owner/signer on an account.

We also obtained your Chexsystems score and used it in making our credit decision. Your Chexsystems score is a number that reflects the information available in your Chexsystems report related to past debit performance. 

Your score may change depending on how the information in your Chexsystems report changes.

Your Chexsystems Score: 0596
Scores range from a low of 100 to a high of 899

Key factors that adversely affected your credit score:
- DDA CLOSURE PAYMENT HISTORY - ASSET OWNERSHIP HISTORY - DDA CLOSURE(S) - DDA HISTORY 

Chexsystems did not make the decision to deny your account application and is unable to provide you with specific reasons why the decision was made.

You have rights under state and federal laws. Included in these rights are:

  • the right to obtain a free copy of your consumer report if you make such a request to the consumer reporting agency within 60 days of your receipt of this notice; and
  • the right to dispute the completeness or accuracy of any information contained in such report by notifying the consumer reporting agency directly of your dispute.

You may contact ChexSystems via: 

  • www.consumerdebit.com
  • Telephone at 1-800-428-9623 using their voice messaging system
  • Mail at ChexSystems, Attn: Consumer Relations, 7805 Hudson Road, Suite 100, Woodbury, MN 55125

 

 

Regards,

Thank you for contacting

Call Center

888-210-2028

8-5 Central

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  • 1 month later...
On 2/4/2019 at 5:42 PM, MannyLNJ said:

Thank you. Opening a money market and checking account there.  The only big ticket items are ones we planned on with the money. The first is solar panels for the house. We are buying them outright not a lease. Also, we need to fill in a collapsed swimming pool and add some enhancements to our house.

New car?

 

 

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