The money needs to stay w/ Merill/BofA to get the 2.625% rewards rate with the BofA credit card.Ĭan you move your other long term assets to Merrill Edge for the qualification? Brokered CD rates are currently not competitive with bank CD rates, so while you are getting the credit card rebates, you are losing on the interest earned compared to if you purchase a CD elsewhere. We have become one of the largest independent community banks in eastern Pennsylvania with a footprint stretching to Pennsylvania, New York & New Jersey. Have about 47K need to put in short-term, secure investments. So from a safety/insurance point of view it is all good? Anything to watch out for? I think the last time I bought a CD was with BofA 15-18 years ago when rates were like 4%. I Google them and see they are FDIC/NCUA members.
These CDs are offered by 'Midwest Community Bank', 'First Financial Bank', 'People's United Bank Nation', etc.
I see some 6 months non-callable CDs with a 1 - 1.10% APY.
So I sold off all the Treasury Bills I had this morning.
