Wallet Hacks
Welcome!
My name is Jim Wang and I'm the founder of Best Wallet Hacks, a personal finance blog I started in September 2015.
First, a little about who I am and what I'm about. If you want the quick version, I am in my thirties, have a lovely family, and graduated college with a degree in computer science. Before Wallet Hacks, I wrote about personal finance for over ten years on another popular personal blog before a change in ownership.
I think financial systems were built to enrich a select few on the backs of the many… but I'm also not a socialist. I think we all choose how to spend our 24 hours each day and some people are better at it because they've figured out the game. I've figured some of it out and I want to share some of it with you.
That's me in 30 seconds, please tell me about you.
Next, let's talk about the blog. Wallet Hacks contains unconventional strategies to get ahead financially and in life. If you want to be average, conventional results will get you there. You only get ahead when you challenge your assumptions, discard the ones that fail, and keep the ones that propel you towards your goals.


Not enough Americans who need life insurance have it. Why is that? While most people would tell you that they’re familiar with the concept of life insurance, I don’t think that many fully understand how it works or why it’s so important. If they did, more than 40% of the population would have enough life insurance coverage.
So, what is life insurance? What are the various types of life insurance you can buy? Do you need life insurance? And if so, what kind should you get?
I’ll provide
... moreNot enough Americans who need life insurance have it. Why is that? While most people would tell you that they’re familiar with the concept of life insurance, I don’t think that many fully understand how it works or why it’s so important. If they did, more than 40% of the population would have enough life insurance coverage.
So, what is life insurance? What are the various types of life insurance you can buy? Do you need life insurance? And if so, what kind should you get?
I’ll provide answers to these questions and more in this article. Find out how purchasing life insurance can help protect you and your family from the financial burden of an unexpected or sudden loss.
What Is Life Insurance?
Life insurance protects an insured person’s beneficiaries by providing them with a lump sum of money upon the death of the insured (policyholder). There are two main types of life insurance: term and permanent life coverage.
How Does Life Insurance Work?
When you set up a life insurance policy, you must designate a beneficiary. This is the person or person(s) who will receive the death benefit if you pass away while the policy is in effect. If you choose not to assign a specific beneficiary, the funds will be paid out to your estate.
Most life insurance companies enable you to assign primary and contingent (secondary) beneficiaries. For example, if you are married with children, you may decide to name your spouse as your primary beneficiary and list your children as contingent beneficiaries in case your spouse were to die before the benefit can be paid.
If you have multiple beneficiaries, you can split up the benefit between them.
Your life insurance policy will have a face value amount, which will equal the amount of insurance paid out in the case of death.
While the policy is in effect, you will pay monthly or annual premiums to the insurance company in exchange for your life insurance benefit.
What Are The Different Types of Life Insurance?
As mentioned, there are two main types of life insurance: Term and Permanent. Let’s take a closer look at each one. I’ll also explain how No Medical Exam Life Insurance policies work.
Term Life Insurance
Term life insurance is valid for a specified period, typically 10, 15, or 20 years. You pay a monthly (or annual) premium for the duration of the policy, and the policy pays out if you pass away during the term.
If you are still alive when the policy expires, the term ends; however, most insurance companies will allow you to renew for an additional term, albeit at a higher cost.
Term life insurance is the best option for most people because it’s simple and affordable. (It’s much less expensive than permanent life insurance, partly because it’s only valid for a specified period).
The following subcategories exist within term life insurance:
Permanent Life Insurance
Unlike term life insurance, permanent life insurance policies are valid for the policyholder’s entire life, which is one of the reasons why permanent life insurance is more expensive than term insurance – the insurance company knows that the policy will have to be paid out at some point.
Some permanent life insurance policies include a cash value, which is a savings component of the policy. The policyholder can borrow or withdraw funds from the cash value portion over time.
There are three types of permanent life insurance: whole life, universal life, and variable whole life.
No Medical Exam Life Insurance
No medical exam life insurance policies are term policies that don’t require you to get a full medical exam. Most other insurance policies require complete physical and bloodwork, often via a nurse that comes to your home or office.
There are three main types of no medical exam life insurance policies: Simplified issue, guaranteed issue, and group coverage.
Simplified-issue policies don’t require a medical exam, but you will be required to answer a list of medical questions.
Guaranteed-issue policies don’t require you to answer any medical questions. These policies are geared toward older people or people who can’t obtain coverage elsewhere. Guaranteed-issue is often more expensive than simplified issue policies.
Although there are other types of life insurance policies, the ones talked about above cover the most common life insurance policies you’ll find.
Which Type of Life Insurance Should You Choose?
When deciding which type of life insurance you should choose, start by determining if you want term life insurance or permanent life insurance.
Term life insurance is the best option for most people. This is because the premiums are cheaper, allowing you to cover your family’s needs until you no longer need the insurance.
In other words, the term policy can cover you until you’re financially secure enough that you don’t need it. If that day doesn’t come as soon as you had hoped, you can renew your term life insurance policy when it expires.
Do your research on the difference between permanent life insurance and term life insurance, and talk to a few different people with knowledge about life insurance in order to decide which type of life insurance is right for you.
How Do I Know If I Need Life Insurance?
While not everyone needs life insurance, most do. In fact, it’s estimated that 3 out of 5 Americans (60%) don’t have enough life insurance coverage.
At the very least, life insurance can be used to pay for final expenses, including funeral costs, burial, etc.
However, if you have a spouse and children who are dependent on your income, you need to make sure you have enough life insurance in place to pay off any debts you have, including your mortgage, and to provide for coverage of living expenses until your youngest child is 21.
See our guide to help you determine how much life insurance you need for more information and tips.
Do My Children Need Life Insurance?
Note: You’ll find articles online suggesting that you should buy life insurance for your children. But is it really necessary?
In my opinion, the only life insurance you’d need for underage children is a small policy to cover final expenses in the case of their death. That said, if you have a healthy savings account, you may want to forego purchasing a life insurance policy for your children.
How about a spouse/partner who stays at home or doesn’t earn a substantial income? Do they need life insurance?
If you’re not self-insured, the answer is a resounding “yes”!
Stay-at-home parents perform many tasks: Cleaning, cooking, caring for the children, and driving them around to different classes and events. How would these tasks get done if they were suddenly not there anymore?
Paying for these tasks to get done in the event of an unexpected loss would be very costly. Or, the money from the life insurance policy could allow you to stay at home and take on those duties in their place.
How Much Does Life Insurance Cost?
Monthly premiums for life insurance will vary based on a number of factors, such as:
For example, I have a term life insurance policy through Bestow for $300,000. As a 55-year-old healthy woman, I pay $35.08 monthly for that policy.
Your monthly life insurance premiums will vary based on your specific age, health condition, policy amount, term length, and other factors.
What Are the Best Life Insurance Companies?
There are many life insurance policies to choose from. You can visit an insurance agent at a brick-and-mortar office near you to learn more about life insurance policies, or you can purchase insurance from several companies online.
Here are some top online life insurance companies to consider:
Fabric by Gerber Life
Fabric Life insurance is a Gerber life insurance company that offers life insurance for busy parents.
The company offers 10, 15, 20, 25, and 30-year term life insurance policies. The available terms decrease as you get older.
You can get coverage from $100,000 up to $5,000,000. Prices start at just under $8 per month.
Fabric by Gerber Life also offers additional tools to help you organize your financial and legal information. You can also create a will for free on the Fabric website.
Get a Free Estimate from Fabric by Gerber Life
Haven Life
Haven Life is an online life insurance company that’s backed by Mass Mutual Insurance Company.
The company offers policies ranging from $25,000 up to $3,000,000. You may or may not need to get fully medically underwritten to get a policy with Haven Life.
Remember that fully medically underwritten policies usually come with lower monthly premiums.
In the case that you have severe or serious medical issues, Haven Life might not be the cheapest life insurance option.
Check out Haven Life Plus, a benefits program through Haven Life that offers a free trust or will and other benefits.
Get a Free Estimate from Haven Life
Bestow
As mentioned earlier, Bestow is the online life insurance company I use. I’ve been with Bestow for several years and am happy with the service I’ve received.
The application process with Bestow was quick and easy, and customer service was good. Bestow offers coverage for adults aged 18-60 years old.
You can get coverage from $100,000 to $1,500,000 for terms from 10 years up to 30 years. And it’s possible to get a price quote in as fast as five minutes when you apply for life insurance with Bestow.
Check out Bestow’s referral program when you sign up. You can get up to $25 for each friend you refer who signs up with your referral link. Learn more in our Bestow review.
Get a Free Estimate from Bestow
Walnut
Walnut offers 10-year term life insurance policies, as well as cyber protection. No medical exam is required to get a Walnut policy, and pricing is very transparent.
Life insurance policies through Walnut are underwritten through Savings Bank Mutual Life Company of Massachusetts.
As a bonus, Walnut life insurance policyholders get discounts on other products, such as ClassPass, Dashlane, and Headspace.
See the Walnut website for additional details on life insurance policies and other product discounts. Read our Walnut Insurance review for more information.
Get a Free Estimate from Walnut
Final Thoughts
Learning about how life insurance works and what different policies offer is part of good financial planning and knowledge.
Not everyone needs life insurance, but it’s an essential product for most people. With over 60% of Americans living paycheck-to-paycheck, an unexpected death would put a huge financial burden on those left behind.
Life insurance helps buffer that blow (financially, at least) by reducing or removing the financial pressure from family members experiencing unexpected death.
If you don’t currently have life insurance coverage, take the necessary steps to protect your family members today.
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If your FICO credit score is under 600, trying to borrow money can feel like a hopeless situation. After all, a low credit score can affect your ability to obtain a standard credit card, car loan, or mortgage.
It doesn’t make those things unattainable; however, it will limit your options when it comes to the type of credit card or loan you may be trying to get. The higher your credit score, the better the rates and rewards will be.
The good news is that there are credit cards available even
... moreIf your FICO credit score is under 600, trying to borrow money can feel like a hopeless situation. After all, a low credit score can affect your ability to obtain a standard credit card, car loan, or mortgage.
It doesn’t make those things unattainable; however, it will limit your options when it comes to the type of credit card or loan you may be trying to get. The higher your credit score, the better the rates and rewards will be.
The good news is that there are credit cards available even if you struggle with poor credit.
Best Credit Cards for a 500 Credit Score
Each of the cards listed below is designed for people looking to improve their credit score. Some credit card issuers, like Discover, DCU, and Capital One, can even switch you to a traditional credit card after you spend some time with a secured or credit builder card.
Petal 1 Visa Credit Card
The Petal 2 Visa Credit Card is recommended for people with credit scores between 600 and 699. But if your credit score is lower than 600, you’ll likely have better luck with the Petal 1 Visa Credit Card.
While some credit cards qualify you based on credit score alone, Petal 1 considers other financial behaviors, such as income and bill payment history. You may be required to connect your checking account to Petal so your account activity can be reviewed for the previous three months. Petal can make an approval decision based on that activity if you don’t already have a credit score.
Petal 1 Leap Program
Petal’s Leap program enables you to earn a credit line increase in as little as six months by making on-time payments.
Petal® 1 “No Annual Fee” Visa® Credit Card is one of the few credit cards in this credit score range that offers rewards. Through the Petal Perks program, you can earn between 2%-10% cash back when you make purchases at Petal retail partners, a list that includes Costco, Dunkin, Sam’s Club, and McDonald’s.
If your payment history with Petal 1 is satisfactory and your credit score improves, Petal also offers the Petal 2 Cash Back Rewards Card. This card offers a lower APR, a higher credit limit, and more rewards.
Petal 1 Visa Credit Card features:
Annual fee: annual_fees
Credit Limit: $300 – $5,000
Reports to all three credit bureaus: Yes
Bonus: None
Rewards: Earn from 2% to 10% cash back from select merchants using the Petal Perks program.
👉 card_name
Capital One Platinum Secured Credit Card
The card_name offers a credit limit of $200 with a security deposit of as little as $49. A major advantage to the card, especially if you have limited savings, is that if you can’t pay your security deposit upfront, they’ll allow you to make installments as long as the full amount is paid within 35 days of approval.
If you’re trying to improve your credit, you can monitor your progress through CreditWise, a free credit monitoring service offered by Capital One. And if your monthly payments are made on time, Capital One will perform an account review within six months.
This may result in an increase in your credit limit without you needing to deposit more money. On top of no annual fees, you may be able to upgrade to an unsecured Platinum card once your credit score improves.
While Capital One accepts applicants with all types of credit history, you can still be declined for certain factors, like high outstanding debt or insufficient income. However, that’s a risk when applying for any credit card, including those for credit scores below 600.
Capital One Platinum Secured Card features:
Annual fee: annual_fees
Credit Limit: $200 credit line with an initial deposit of $49, $99, or $200 for those who qualify. You can deposit more money before your account opens to increase your credit limit to a maximum of $1,000.
Reports to all three credit bureaus: Yes
Bonus: None
Rewards: None
👉 card_name
Chime Credit Builder Secured Visa Credit Card
The Chime Credit Builder Secured Credit Card is a prepaid credit card, so you don’t pay interest, and there is no annual fee. Chime doesn’t even pull your credit report. The card reports to all three credit bureaus.
To qualify, you need to open a Chime checking account and set up a direct deposit of $200. And because the credit line on your card is based on your checking account balance, there is no preset limit.
A major benefit of the Chime card is that your revolving credit utilization, which normally accounts for 30% of your credit score, will not be reported to the credit bureaus. However, missing payments is not an option, as your card will be disabled until the payment is made. If your payment is 30 days late, that will be reported to the bureaus, and it will have a negative effect on your score. Learn more in our full Chime Review.
Chime Credit Builder Secured Visa Credit Card features:
Annual fee: $0
Credit Limit: Based on the amount in your Chime checking account
Reports to all three credit bureaus: Yes
Bonus: None
Rewards: None
👉 Learn More about Chime Credit Builder
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank.
Discover It Secured Card
When it comes to rewards, Discover It Secured may be your best option. With no credit score required, Discover It pays rewards on all qualifying purchases. And within seven months, your account will be reviewed to see if you qualify for an unsecured card. If so, your security deposit will be refunded.
With a full cashback match at the end of your first year, you’ll also receive 2% cash back on places like gas stations and restaurants, as well as 1% cash back on all other purchases. Discover also gives you the ability to monitor your FICO credit score as a free service.
This is one of the few credit cards for the 500 – 599 credit score range to offer rewards. Cardholders earn 1% cash back on all purchases plus 2% cash back on rotating categories. And at the end of the first year, Discover will match all the cashback you earn.
Discover It Secured Card basic features:
Annual fee: $0
Credit Limit: Based on the deposit amount, however, a minimum of $200 is required, and the maximum is $2,500
Reports to all three credit bureaus: Yes
Bonus: None
Rewards: 2% cash back on rotating categories and 1% on all other purchases. Discover It Secured offers unlimited cashback matching at the end of your first year.
FAQs
Final Thoughts
Whatever your reasons for having a low credit score, there are steps you can take to improve it. If you’re unsure what your credit score is, here are some ways to check your credit score for free.
Having a low FICO score can limit your ability to get adequate housing and transportation. By improving your credit, you can build a more secure future.
Getting the right secured credit card isn’t the only answer, but it can certainly help.
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It wasn’t that long ago when even the best CD rates paid next to nothing due to record-low interest rates.
Well, times have changed, and short-term Certificates of Deposit (CDs) are once again offering decent returns for conservative and short-term investors.
But how high have rates risen?
Is it possible to earn 6% on a CD today?
For example, you can easily earn 3% APY or higher in a high-yield savings account, and inflation-linked bonds pay
... moreIt wasn’t that long ago when even the best CD rates paid next to nothing due to record-low interest rates.
Well, times have changed, and short-term Certificates of Deposit (CDs) are once again offering decent returns for conservative and short-term investors.
But how high have rates risen?
Is it possible to earn 6% on a CD today?
For example, you can easily earn 3% APY or higher in a high-yield savings account, and inflation-linked bonds pay even more (right now, it’s 6.89% APY). However, these rates are variable and fluctuate at anytime. CDs allow you to lock in today’s best interest rates for a specified period.
Are There 6% CD Rates Today?
Sadly, no. (or should I say, not yet?)
I’ve looked high and low, and unfortunately, I cannot locate any bank CDs paying 6% or more. Of course, that may change if interest rates continue to rise.
The last time rates were within striking distance of the 6% mark was in June 2000 (6.02% for a 5-year term), according to a Bankrate study.
Right now, a rate of 5% or lower is more realistic for a federally-insured certificate of deposit.
⚠️We aim to maintain the most up to date rates but since these change very quickly, sometimes our rates are out of date. Always check with the bank’s website to confirm the rate they are offering.
Best 5% CD Rates
It’s possible to earn 5% from select bank CDs. This is the best possible yield at the moment for this low-risk investment.
Here is a selection of financial institutions offering 5% CD rates at the time of this writing:
Bellco Credit Union
Bellco Credit Union, through the SaveBetter platform, has a 17-month CD that offers a yield of 5.00% APY – a nice way to lock in a good yield. There is a minimum deposit of just $1 and the interest is compounded daily and credited monthly.
Since it is offered through SaveBetter, there are no membership concerns.
👉 Open an account with Bellco
Navy Federal Credit Union
Navy Federal Credit Union is one of the first brick-and-mortar institutions to offer a 5% CD. Its Special 15-Month Certificate earns 5.00% APY (as of 2/15/2023) and is available in taxable accounts and one CD per member. The minimum deposit is $50, and the maximum is $250,000.
Unfortunately, this credit union has strict membership requirements as you must come from a military background or be an immediate family member of a Navy Federal customer to join.
Best 4% CD Rates
Your CD options open up considerably when looking for a yield of at least 4%. It’s possible to get terms as short as one month or up to five years (if you’re a long-term planner).
Sallie Mae Bank
The Sallie Mae Bank 27-Month High-Yield CD has a total 4.85% APY yield. This product is only available through SaveBetter, and the minimum deposit is $1. This is a great short-term investment option if you are comfortable setting aside some funds for two years or more. You can also slot it in as a medium-term maturity on your CD ladder.
See rates for Sallie Mae
Signature Federal Credit Union
Signature Federal Credit Union offers above-average yields for longer terms. For instance, you can earn 4.50% APY on a 36-month term with a $500 minimum balance.
You can join this credit union online and make a minimum $5 deposit in a savings account. Additionally, over 5,000 shared branches across the United States make it easy to perform in-person transactions at partner credit unions.
SaveBetter
You can find the best CD rates and avoid the hassle of chasing the highest yields by joining SaveBetter.
This online platform partners with federally-insured banks and credit unions to offer competitive rates on high-yield savings accounts, term CDs, and no-penalty CDs. Even if you purchase CDs from multiple banks, you can access them through your SaveBetter dashboard.
In addition, you only need to deposit $1 compared to most banks with minimum deposits of $500 or more. However, you must carry high-yield CDs to term, but you can submit withdrawal requests for no-penalty CDs after 30 days.
Here are some of the highest rates available by term:
6 Months or Shorter
Partner Bank | Term | Yield |
---|---|---|
Ponce Bank | 1-Month* | 4.50% APY |
Western Alliance Bank | 6 Months | 4.60% APY |
Western Alliance Bank | 3 Months | 4.45% APY |
Ponce Bank | 6 Months | 4.00% APY |
Ponce Bank | (No Penalty CD) | 4.41% APY |
12-Month CDs or Shorter
Partner Bank | Term | Yield |
---|---|---|
Western Alliance Bank | 12 Months | 4.90% APY |
Great Lakes Credit Union | 12 Months | 4.60% APY |
American First Credit Union | 12 Months | 4.50% APY |
Sallie Mae Bank | 10-Month(No Penalty CD) | 4.25% APY |
SkyOne Federal Credit Union | 12 Months | 4.20% APY |
Learn More: Best 12-Month CD Rates
24-Month CDs or Shorter
Partner Bank | Term | Yield |
---|---|---|
Bellco Credit Union | 17-month | 5.00% APY |
Sallie Mae Bank | 23 Months | 4.85% APY |
American First Credit Union | 24 Months | 4.65% APY |
Blue Federal Credit Union | 15 Months | 4.50% APY |
Sallie Mae Bank | 14-Month(No Penalty CD) | 4.40% APY |
Idabel National Bank | 24 Months | 4.35% APY |
Idabel National Bank | 15 Months | 4.00% APY |
Find a Great CD Rate with SaveBetter
Barclays Bank
Barclays Bank offers online-only banking services throughout the United States. Its term CDs have a $0 minimum deposit and will earn at least 4.50% APY.
Currently, the 12-month CD earns 4.50% APY, and most remaining terms make more than that (18, 36, 48, and 60 months). Find out more in our Barclays Bank Review.
Marcus by Goldman Sachs
Marcus offers high-yield term CDs ranging from 6 months to six years with yields above 3%.
These terms are currently yielding:
Each product requires a $500 minimum balance. Additionally, your CD is eligible for the 10-day guarantee that automatically bumps your interest rate up to a higher amount if the advertised yield increases during the initial funding period.
New members can also receive a $100 bonus cash by opening a savings account with the latest Marcus new account promotion. This account is optional but earns a high rate and has zero account fees, making it an excellent place to park your short-term savings. Learn more in our Marcus by Goldman Sachs Review.
Bask Bank
Bask Bank is best known for its savings account that earns American Airlines miles. You can also earn interest from a high-yield savings account and CDs:
The minimum deposit is $1,000 for every Bask Bank CD.
Capital One 360
Capital One 360 offers several online-only banking products, including its 360 Performance Savings high-interest savings account and fee-free 360 Checking account.
Another nice benefit is being able to purchase online CDs with no minimum deposit and a competitive rate:
Unfortunately, Capital One 360 doesn’t offer no-penalty or ramp-up CDs like several similar-sized platforms. Check out the latest Capital One 360 Promotions for more details.
Citi
Citi® offers some of the best CD rates you’ll find at a national bank.
It’s possible to open term and no penalty CDs that earn above 4%.
12-Month No Penalty CD: 4.05% APY and you can withdraw your funds after the first seven days.
Fixed Rate CD: 4.15% APY on a 12-month term.
The minimum deposit is $500 for either account type.
Citi offers fixed-rate CDs from 3 months to five years, but the rates are 2% or lower for the other terms, excluding the 12-month and 18-month terms. Check out Citi’s New Account Promotions.
CIT Bank
Online-only CIT Bank offers competitive yields for several insured savings products, including CDs. You have several options to choose from:
While these rates are impressive and some of the highest in the industry, you should also consider the Savings Connect Account. It’s a high-yield savings account that only requires a $100 opening deposit and currently earns .
Find out more about the latest CIT Bank Bonus Promotions.
Discover Bank
Discover Bank offers several terms with a 4% or higher yield, including a 10-year CD. Unfortunately, the minimum deposit of $2,500 is relatively high.
Discover offers these CD rates in taxable and IRA CD accounts. Locking in a long-term rate in a traditional or Roth IRA account can help you avoid paying taxes on your annual interest income. Here are the latest Discover Bank Promotions.
Live Oak Bank
Live Oak Bank has a 6-month CD offering 4.15% APY and a 1-Year CD with 4.45% APY.
However, the longer terms yield less and all CDs require a $2,500 minimum deposit.
Live Oak Bank also offers new customer bonuses when you make a qualifying deposit into a savings account.
PenFed Credit Union
If you prefer banking with one of the nation’s largest credit unions, then PenFed should be at the top of your list.
Depositors can earn high rates on taxable and IRA certificates with a $1,000 minimum deposit. You can open an account online, by phone, or at a local branch.
Non-retirement certificates are available, here are some of their rates:
IRA certificates have similar yields but tend to be 0.10% lower, and the shortest term is 12 months.
If you’re not a PenFed member, joining is easy, as the institution dropped its military and employment affiliation requirements a few years ago. You can join by depositing as little as $5 into an NCUA-insured savings account.
Synchrony Bank
You can earn competitive yields and enjoy $0 minimum balance CDs through Synchrony Bank. Term CDs currently earn the highest yields, although its no-penalty and bump-up products are attractive too.
Term CDs
You can quickly build a CD ladder with these short-term, medium-term, and long-term CDs:
No Penalty CD
An 11-Month no-penalty CD can earn 3.50% APY, and your funds are withdrawable beginning on the seventh day.
Bump-Up CDs
If you think future CD rates will increase before your current CD matures, but if you don’t want to commit new funds, you may consider a Bump-Up CD.
The current 24-month term earns 3.70% APY, which is lower than the traditional 24-month CD, but you can commit a small amount as there are zero deposit minimums. Learn more about Synchrony Bank in our full review.
Best 3% CD Rates
Ally Bank
Ally Bank offers a desirable No Penalty CD rate at 3.85% APY with an 11-Month term and no minimum deposit. You may also qualify for a 0.05% Loyalty Reward when you renew your CD at maturity.
It’s also possible to earn at least 4% interest on term CDs of at least 12 months and earn a Loyalty Reward at renewal Learn more about Ally Bank & Ally Invest Bonus and Promotions.
Get Started with Ally
Marcus by Goldman Sachs
You can open two CDs with flexible redemption benefits that make it easier to get a higher rate on your money:
Both products require a $500 minimum deposit. The traditional high-yield CDs also earn a decent interest rate but you lack the flexibility of the above options. You should compare the yields of the three CD products to find the best rate and term for your goals.
Get Started with Marcus by Goldman Sachs
Final Thoughts
While 6% CD rates are currently unavailable, a term CD or a no-penalty CD is a reliable way to earn at least 4%, and secure a decent return from several leading banks for as little as six months or as long as 24 months.
These rates rival the best high-yield savings accounts and can be a more productive place to park the cash you don’t plan to spend during the next one or two years.
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If you are an active trader, especially if you are into options trading, Tastytrade is one of the best platforms for doing so.
They are designed for active traders so the emphasis is on features that you’ll need.
This includes an emphasis on speed and tools for the active trader, like quick trades, quick trade adjustments, data, and more.
Also, the pricing is very competitive. No commissions on stocks and ETFs, $1 per contract opening commissions ($10 max) and $0 on closing for options
... moreIf you are an active trader, especially if you are into options trading, Tastytrade is one of the best platforms for doing so.
They are designed for active traders so the emphasis is on features that you’ll need.
This includes an emphasis on speed and tools for the active trader, like quick trades, quick trade adjustments, data, and more.
Also, the pricing is very competitive. No commissions on stocks and ETFs, $1 per contract opening commissions ($10 max) and $0 on closing for options on stocks and ETFs. They have $1.25 per contract on futures contracts on both opening and closing.
Best of all, if you’re opening a new account, there’s a very generous bonus available.
Tastytrade Promotion – up to $2,000
To get the bonus, open and fund a new Tastytrade account and transfer in funds to get up to $2,000 in cash. As long as you transfer in at least $500, you can get a $100 bonus. The bonus gets higher the more you transfer, though the top tier is a pretty generous percentage.
The referral/promotion code for this offer is “TIERED_2022” and you must put it in the Referral Code Field when applying.
The bonus is based on the amount transferred:
Deposit Amount | Cash Bonus |
---|---|
$5,000 – $24,999 | $100 |
$24,000 – $99,999 | $500 |
$100,000 or more | $2,000 |
This is valid for new Tastytrade customers and existing Tastytrade customers as long as they have not yet funded an account.
👉 Learn more about Tastytrade
(Offer expires 3/31/2023)
Who is Tastytrade?
If you are unfamiliar with the Tastytrade name (or maybe it sounds familiar but you don’t remember it), it’s because they were once known as Tastyworks. They re-branded in early 2023 to the Tastytrade name while keeping everything else the same behind the scenes.
Tastyworks was founded in 2017 by the same team that created thinkofswim in 1999. thinkorswim, if you call, was acquired by TD Ameritrade in 2009. Tastytrade operated as a brokerage for years and only recently was rebranded into Tastytrade.
This is all to say that Tastytrade, in some name or another, has been around for many years.
How does this offer compare?
When it comes to brokerage bonuses, this is one of the most generous. We have it as our top pick for brokerage bonuses. There may be higher bonuses but not any that give you the top amount for a realistic transfer amount.
For example, if you transfer $100,000 into the follow brokerages, here are their bonus amounts:
If you just want free stock, here are the best offers for those right now:
Brokerage | Bonus Promotion | Link |
---|---|---|
![]() | up to $2,000 | Learn more |
![]() | up to 12 free stocks | Learn more |
![]() | up to $25,000 | Learn more |
![]() | free stock (valued $5 - $200) | Learn more |
![]() | Up to $500 cash | Learn more |
![]() | Up to $625 cash | Learn more |
tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Marketing Agent (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade.
tastytrade was previously known as tastyworks, Inc.
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Depositing checks via your mobile device can be a convenient way to get money in the bank quickly. However, mobile check deposit limits can vary depending on where you bank.
If you like using mobile deposit or are interested in learning more about how it works, you’ve come to the right place.
What Is Mobile Check Deposit?
Mobile check deposit allows you to deposit checks directly into your bank account using any mobile device. All banks differ,
... moreDepositing checks via your mobile device can be a convenient way to get money in the bank quickly. However, mobile check deposit limits can vary depending on where you bank.
If you like using mobile deposit or are interested in learning more about how it works, you’ve come to the right place.
What Is Mobile Check Deposit?
Mobile check deposit allows you to deposit checks directly into your bank account using any mobile device. All banks differ, but banks that allow mobile deposits usually accept all types of checks, including:
Check with your bank for details, as not all banks allow mobile deposit. However, most major U.S. banks, as well as many smaller financial institutions, allow you to deposit checks using this method.
Online fintechs, including Chime and several Chime alternatives, also accept mobile deposits.
How to Use Mobile Check Deposit
Using your bank’s mobile check deposit feature is fairly simple. The following steps are generally consistent among most financial institutions:
You should receive some type of notice, either via your mobile device or via email, that your mobile deposit transaction was accepted.
How Long Before My Mobile Deposit Shows Up in My Account?
The time it takes for a mobile deposit transaction to be credited to your account can vary. Most banks say that you should expect your mobile deposit to show up in your bank approximately one to three business days after you complete your deposit.
Mobile Check Deposit Limits at Major Banks
Below is a list of mobile check deposit limits at several major U.S. banks. Note that most banks have a daily and monthly deposit limit.
Neobanks and fintechs that accept mobile deposits will have a deposit limit as well.
Bank Name | Mobile Check Deposit Limit |
---|---|
Chase | $2,000 per day/$5,000 per 30-day period |
Bank of America | Varies based on account type, up to $50,000 per month |
Citibank | $1,000 per day/$3,000 per month for accounts six months or older, $500 per day/$1,500 per month for newer accounts |
Wells Fargo | $2,500 per day/$5,000 per 30-day period |
Charles Schwab | Varies per customer |
PNC Bank | $2,500 per day/$5,000 per month for accounts 30 days or older, $1,000 per day/$2,500 per month for newer accounts |
U.S. Bank | Varies based on account type, deposit history and relationship with U.S. Bank |
Capital One Bank | Varies per customer |
TD Bank | Varies per customer |
HSBC Bank | Varies based on account type, up to $50,000 per 30-day period |
Banks That Accept a $10,000 Check via Mobile Deposit
Here is a list of banks that will allow you to deposit a check of up to $10,000 via mobile deposit.
Banks That Accept a $25,000 Check via Mobile Deposit
Many banks will accept a check of up to $25,000 via mobile deposit.
Banks That Accept $50,000 Checks via Mobile Deposit
A limited number of banks will accept checks of up to $50,000 via mobile deposit:
Can My Mobile Deposit Limit Change?
It’s important to be aware that your mobile deposit limit can change anytime. Here is a list of factors that might affect how much money you can add to your bank account via mobile deposit.
Because changing mobile deposit limits is possible, it’s important that you keep abreast of communication from your bank. Your bank will likely communicate with you via email, snail mail, or text if there are changes to mobile deposit limits.
Is Mobile Deposit Safe?
Depositing your checks using a mobile deposit app is safe, as banks use the highest levels of encryption to protect their mobile deposit apps, just as they do with online banking.
That said, you should be aware of some other risks to mobile deposits.
Deposit Rejection
Your bank may reject your mobile deposit if it wasn’t performed correctly. Reasons for rejection may include:
For that reason, it’s important to securely store a check that you’ve deposited via a mobile app for at least two weeks. At that point, you are usually safe to destroy the check.
Double Deposit
There is a chance that you may redeposit a check that you already deposited via mobile deposit. Or, your partner or spouse may redeposit the check because they don’t know you’ve already deposited it.
Again, safe storage of checks you’ve deposited via your bank’s mobile app is strongly recommended to help avoid depositing a check twice.
Security Breaches
Although online banking is quite safe, it is not failproof. There is always a possibility of security breaches surrounding a mobile deposit.
However, this is a risk that comes with any online activity. Only you can decide if depositing your check using a mobile device is worth the risk.
Final Thoughts on Mobile Check Deposit Limits
Depositing your checks via mobile deposit can save time and help you get your money into your account faster. However, you will find mobile check deposit limits at big and small banks and fintechs.
Depending on your banking habits, you may end up choosing a bank based on its flexibility regarding mobile check deposit limits.
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Many investors rely on stock-picking services to help them choose the right investments for their portfolios, and The Motley Fool is one of the investment industry’s most popular stock-picking platforms.
The company was founded in 1993 by brothers Tom and David Gardner, who remain very active within the organization. But while the Motley Fool boasts over 1 million premium members, there are several other stock-picking services you can choose from.
In this article, I’ll give you a brief
... moreMany investors rely on stock-picking services to help them choose the right investments for their portfolios, and The Motley Fool is one of the investment industry’s most popular stock-picking platforms.
The company was founded in 1993 by brothers Tom and David Gardner, who remain very active within the organization. But while the Motley Fool boasts over 1 million premium members, there are several other stock-picking services you can choose from.
In this article, I’ll give you a brief overview of The Motley Fool and share five alternatives for you to consider. Paying money for a premium stock-picking platform is an investment, so choosing the platform that best meets your needs is important.
What Does Motley Fool Have to Offer?
The Motley Fool has become one of the most popular stock-picking services and a consistent provider of investment news and information.
The Motley Fool provides its members with access to new stock picks each month, detailed analysis of companies, model portfolios, advanced tools, and live streaming during market hours.
The Motley Fool investing philosophy looks like this:

Motley Fool Investment Plans
You can take advantage of The Motley Fool website, which provides a wealth of free information, including market commentary and individual stock recommendations. But the company also offers many premium services.
As The Motley Fool has grown, they’ve expanded beyond a single, targeted source of stock picks to dozens of plans across many investment niches.
Their offerings have become so numerous that they now have 42 different paid plans, each with its own objective and price structure. There are too many to list, but I’ve included five of the most popular packages in the following table:
Plan | Objective | What You’ll Get | Price |
---|---|---|---|
Epic Bundle | Immediate access to MF’s four foundational stock-recommendation services: Stock Advisor, Rule Breakers, Everlasting Stocks, and Real Estate Winners | 6+ new stock recommendations each month+ 5 “Digital Asset Workshops.” | $499 per year |
Stock Advisor | Market-beating stocks from MF’s award-winning service | Two new stock picks each month + 5 Best Buys Now + Starter Stocks + Community & investing resources | $199 per year |
Rule Breakers | High-growth businesses MF thinks are poised to be tomorrow’s market leaders | Two new stock picks each month + 5 Best Buys Now + Starter Stocks + Community & investing resources | $299 per year |
Everlasting Stocks | Tom Gardner’s new service with the same analyst team that has beaten the S&P 500 by 3X for the last 20 years | Immediate access to 15 stock recommendations from Tom’s holdings | $299 per year |
Rule Your Retirement | Comprehensive retirement guidance | Model portfolios + Mutual fund & ETF recommendations + Social security tips, tricks, and strategies + Coverage and analysis on critical retirement topics | $149 per year |
Most of the plans offered by The Motley Fool are available on their website, while some require you to call in for more information. If you’re interested in a plan that requires you to call, be aware that The Motley Fool is known to engage in aggressive upselling. It’s possible you’ll call on one service and then be recommended to sign up for a higher-priced plan or one that adds multiple plans to the one you’ve selected. For more information, check out our full review of Motley Fool.
Learn more about Motley Fool Stock Advisor
Motley Fool Alternatives
As mentioned, The Motley Fool isn’t the only stock-picking service, far from it. Here are five Motley Fool alternatives you should consider before deciding on a platform.
Morningstar
Morningstar and The Motley Fool are similar in that they offer premium stock-picking services along with plenty of free content on their website. Morningstar is one of the most respected information sources in the investment industry, frequently quoted by popular investment websites and financial experts.
The company is perhaps best known for its investment ratings. They grade stocks and mutual funds on a five-point scale, with five points being the highest rating. Many investment companies rely on these ratings in making their own investment choices.
Like The Motley Fool, Morningstar offers several plans to help you up your investment game. This even includes a managed investment service for retirement plans.
But the centerpiece of the Morningstar organization is Morningstar Investor.
Morningstar Investor (formerly Morningstar Premium)
With Morningstar Investor, you can receive recommendations from more than 150 independent analysts and actionable analyses.
With each investment, you’ll get the following:
Morningstar Investor starts with a seven-day free trial and is then available in a monthly subscription of $34.95, or $249 per year if you pay upfront. For more details, check out our full Morningstar Investor review.
Learn more about Morningstar Premium
Zacks
Like the other investment services on this list, Zacks has become a respected source of financial news and information. They also have a website where you can get plenty of free information, including stock, fund, and crypto analysis, earnings information, stock and fund screeners, a My Portfolio feature, and other research tools. It’s all available free of charge.
Zacks offers no fewer than 27 paid service plans. The most popular are Ultimate, Investor Collection, and Zacks Premium.
Zacks Ultimate
With Ultimate, you get full access to Zacks’ private trades. That includes their short-term trading portfolios and long-term investment portfolios. It also comes with the Inside Trader and Surprise Trader newsletters.
Zacks makes the following claims about the success of their stock picks:

Zacks Ultimate is available for $495 per year or $59 per month. But it starts with full 30-day access for just $1 to allow you to check out the service.
Zacks Investor Collection
According to Zacks, their Investor Collection gives you “access to their best stocks for the long term.” They provide all buys and sells from their long-term portfolios. That includes real-time buy and sell signals and all of Zacks premium research tools and reports that help you find your winning investments.
You’ll receive email alerts for other Zacks services, including Stocks Under $10, Home Run Investor, Value Investor, ETF Investor, Income Investor, Zacks Top 10 Stocks, Zacks Premium (below), and Zacks Confidential.
Zacks Investor Collection is available for $59 per month or $495 per year but also starts with full 30 days of access for just $1.
Zacks Premium
Zacks Premium provides powerful tools and research to help improve your portfolio performance. The plan includes Zacks Rank #1 stock list, Zacks Focus List of the 50 top long-term stocks, the Industry Rank of the best stocks in the best industries, and Zacks Earnings ESP Filter, identifying the stocks with the highest probability of positive earnings surprises. You’ll also have access to Equity Research Reports and Zacks Premium Screener.
Zacks Premium is available at an annual subscription price of $249 but is free for the first 30 days. Our Zacks review has more information.
Learn more about Zacks
Seeking Alpha
Seeking Alpha offers their website, which is another common source of investment news information throughout the industry, as well as their Basic plan, free of charge. The plan provides limited access to articles and rating tools and may be a good place to start for new investors.
Seeking Alpha Premium
Seeking Alpha Premium is designed to help you find better stocks and create your own Seeking Alpha portfolio. The plan comes with Editors’ Picks of specific stock picks, as well as Notable Calls & Insights to provide you with articles on big-picture investment developments.
You’ll also get access to Dividend Investing, ETFs & Portfolio Strategy, and regular tracking of various markets and market sectors.
Seeking Alpha Premium is available for $119 annually but starts with a seven-day free trial.
Seeking Alpha Pro
Seeking Alpha Pro is the company’s flagship program. It provides unlimited access to investing, analysis, four to six handpicked ideas sent daily, top ideas by Seeking Alpha experts, a curated list of short opportunities, the idea filter to pinpoint relevant articles, and VIP customer service.
Seeking Alpha Pro is offered at $499 per year or $69.99 per month. But either payment plan starts with 14 days free before your credit card is charged. Learn more in our Seeking Alpha review.
Learn more about Seeking Alpha
Benzinga Pro
Benzinga is another respected news and information source in the financial world. Their Benzinga Pro service provides real-time stock trading news, trading signals, and intelligent chat rooms. It’s designed for active traders, including day and swing traders.
Benzinga Pro provides daily trading picks, exclusive market-moving stories, a stock scanner, stock alerts, and a mobile app. You can even take advantage of their stock audio to listen to stock information on the go.
Benzinga Pro is available at four different pricing levels, as well as the free version. Here’s a closer look at their plans:

Learn more about Benzinga Pro
Stock Rover
Stock Rover is a pure investment research platform and stock-picking service. Unlike the other services on this list, it doesn’t function as an industry news and information source.
Stock Rover offers three different plans, Essentials, Premium, and Premium Plus. Pricing and service offerings for each plan are as follows:

You can also subscribe to Stock Rover’s Research Reports, which provide comprehensive investment reports on over 7,000 publicly traded companies. Each report is available for $99.99 per year. But if you bundle the reports with any yearly or two-year Stock Rover plan, the subscription fee drops to $49.99 per year. Visit our Stock Rover review for more details.
Learn more about Stock Rover
The Motley Fool vs. The Competition: Which Should You Choose?
Stock-picking services are not for everyone. They’re designed specifically for self-directed investors who manage their own portfolios and are primarily interested in identifying potentially winning investment securities. If you are a passive investor, preferring to invest in index funds on a buy-and-hold basis, you probably do not need any of these services.
However, if you are a self-directed investor, and are unsure which stock-picking service to choose based on this analysis or any other, take advantage of the free trial offers available with each.
That will allow you to test the service, identify a few attractive stock picks, and determine which platform you like the best.
Otherwise, choose the service that best matches your investment style and personal preferences. The subscription fee may also be a factor, depending on your portfolio size. For example, a $300 per year subscription fee might make sense if you have a $50,000 portfolio. But a $3,000 annual fee, which would represent 6% of your portfolio value, is excessive.
Whatever plan you choose, do so wisely. Stock picking is at the heart of investing success, at least if you’re an active trader. It’ll determine your success or failure in managing your portfolio in the years and decades ahead.
Your future financial success may depend on the choices you make right now.
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One of my favorite movies of all time is The Goonies.
And one of my favorite moments is when Mikey finds One-Eye Willy’s treasure map (really, it’s when Chunk drops the frame) and the Goonies go on their quest to find his treasure.
We love treasure maps.
And we have one too – it’s a map of our treasure.
We have two Master documents that outline our finances – Net Worth Spreadsheet and the Treasure Map.
The Net Worth Spreadsheet is a Microsoft Excel
... moreOne of my favorite movies of all time is The Goonies.
And one of my favorite moments is when Mikey finds One-Eye Willy’s treasure map (really, it’s when Chunk drops the frame) and the Goonies go on their quest to find his treasure.
We love treasure maps.
And we have one too – it’s a map of our treasure.
We have two Master documents that outline our finances – Net Worth Spreadsheet and the Treasure Map.
The Net Worth Spreadsheet is a Microsoft Excel document that calculates our net worth. It is a monthly accounting of our financial accounts and sticks strictly with numbers.
The Treasure Map is the qualitative explanation of our financial setup. It is a Word document that explains the purpose of each account, the point of contact, and how each of the pieces fit together. Our treasure map starts with our financial map – which is a drawing of how our accounts are interconnected.
Together, they give you a complete picture of our finances.
The Treasury Map shows someone where our stuff is so that it can be found if I’m unavailable (unreachable, dead, incapacitated, whatever). It’s taking all of the knowledge I have in my brain and dumping it into a document so someone doesn’t have to guess what I was doing.
And it’s written in a way that is as basic as possible, making no assumptions on the part of the reader.
It has five sections:
Treasure Map Legend
The Treasure Map is a straightforward document but anything can be misinterpretated so I keep a legend at the front explaining what it is and what you can find in it.
Plus, whenever someone will need this will be a stressful time… so I tried to make it as simple as possible.
It explains how all the sheets are related, what updates where, and someone reading the document will be able to continue the accounting (not that they will). This also acts as a reminder for myself in case I forget how I set something up.
This is where our financial network map is included.
Bank Accounts
We explain the purpose and reasoning behind each account.
Someone looking at the spreadsheet and at our list of bank accounts is going to wonder why we have so many – so this section plains how it fits together.
For example, we have a total of five banks and each one plays a specific role:
It also explains how they are all related and any specific account information you may need to access them.
Investment Accounts
We have simplified our investment life into two brokerage accounts and this section explains the purpose of each.
The investing strategy section is more detailed than the banking, with my target asset allocation as well as how those assets are distributed within each of the accounts.
I use Vanguard as one of my custodians and I have a Rollover IRA, Roth IRA, and a taxable brokerage account. One of the tricky things about those different types of accounts is that it’s often a challenge to get your asset allocation right. It’s even harder to reverse engineer what I was doing if you start with just the accounts.
The document explains what’s what. For example, I don’t put our bonds into our Rollover IRA, which is a tax-deferred retirement account. The general rule of thumb is that you put bonds in a tax-deferred account because bonds generate income and you’d be taxed on that income if it were outside of a tax-deferred account.
Bonds have had low yields recently and so it’s actually better to have stocks in those tax deferred accounts, but that’s not why we do it. If we needed to access our funds quickly, we’d liquidate our bonds first because they’re the least volatile. If they’re in tax deferred accounts, we’d take a massive penalty. That’s the #1 reason why… how it’s more tax efficient right now, due to low yields, is simply a bonus.
OK so that whole explanation is not possible unless I write it out in a Word document.
Direct Investments
For a while I made a few direct investments, or angel investments, in companies. I don’t do that anymore but we still have a few legacy investments held in different places.
This section of the document contains all the contact information of each investment, who was the lead investor, my relationship, who to call if you have a question (in case it’s not the lead investor), as well as anything else that could provide clarity on the deal.
Some of these are deals that don’t exist outside of legal documents. You can’t log in somewhere and see them. Without this and the listing in the spreadsheet, it would be difficult for someone piecing it together to even find them because they wouldn’t know where to look.
For others, they’re managed in Carta.
Insurance
Pretty straightforward here – a list of all the different insurances we have, levels of coverage, and the company we have them with. Ours are all with one company so it’s pretty easy to understand.
If yours is slightly more complicated, try to put in as much detail as you can. For example, if you have term life insurance from several companies (it’s not uncommon to get $1,000,000 from two companies at $500,000 each), list them and their details.
Remember to Update It!
While you may update a net worth spreadsheet frequently, you might forget to update your Treasure Map simply because your situation might not change all that much from month to month. I make it a point to review it every quarter or so and this check often just takes a few minutes.
If there are updates, like new accounts or new investments, I quickly jot down notes so the manual is complete and up to date. I think that updating it on an annual basis is sufficient unless you make a lot of changes and think it’ll be hard to remember.
While having an outdated copy is better than having nothing, an updated one is best.
Do you have a Treasure Map or something similar?
How would you augment or improve mine?
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It’s become very popular for fintech companies to offer a way for customers to earn a higher rate of interest on their cash deposits.
Personal Capital, best known for their tools, also has a wealth management advisory business where offering a higher interest rate makes sense.
The product is called Personal Capital Cash and it’s available to Personal Capital users even if they aren’t using the wealth management services.
The current interest rate is 4.10% APY – but is it worth
... moreIt’s become very popular for fintech companies to offer a way for customers to earn a higher rate of interest on their cash deposits.
Personal Capital, best known for their tools, also has a wealth management advisory business where offering a higher interest rate makes sense.
The product is called Personal Capital Cash and it’s available to Personal Capital users even if they aren’t using the wealth management services.
The current interest rate is 4.10% APY – but is it worth getting?
What is Personal Capital Cash?
Personal Capital Cash is a cash management account that offers high interest rates that is comparable with many high yield savings accounts and no minimum balance requirement.
A cash management account is similar to a checking account except it’s not “technically” a checking account. It’s a neobank in that Personal Capital is not a bank, it has partnered with a bank to offer banking services.
Personal Capital Cash works with several partner banks and offers up to $2 million in FDIC insurance. Typically, you get up to $250,000 in FDIC insurance but because Personal Capital Cash works with several banks, you get more (up to $250,000 each).
UMB Bank is the partner bank and the program banks are:
The advantage of using Personal Capital Cash is that you can earn a high rate of interest on your cash while your other investments are being managed by Personal Capital’s wealth management services.
There are downsides though – you can’t spend directly from the account. There are no checks and no debit card, so you’ll have to transfer funds before you can use them. You can withdraw up to $100,000 a day so it’s not an issue of them wanting to limit access, they simply set it up that way.
Learn more about Personal Capital
Other Personal Capital Features
Personal Capital Cash is just one part of what they offer and it’s arguably the least notable one – earning a bit of interest on cash is fine but Personal Capital is known for its wealth building tools.
They offer a:
All for free and you don’t have to use their wealth advisory services. We recommend them because they are so useful. You will have to answer phone calls about becoming a wealth advisory client but you can politely decline and the calls will stop. There are no ads on the platform and the business model is to try to get you to sign up to be an advisory client.
If you are interested in having your assets managed by Personal Capital, there are two tiers:
The tools are free but the annual advisory fee is 0.89% on balances up to $1,000,000.
Our Personal Capital review goes into much greater detail on these tools.
Learn more about Personal Capital
Alternatives to Personal Capital Cash
If you’re not a customer and are just looking at the interest rate, there are better alternatives. If you are looking for an alternative to the tools, review this list of Personal Capital alternatives.
If you want higher yield, your two best options are looking at the highest rates on our high yield savings account page or consider opening a no-penalty certificate of deposit.
As of this writing, the highest rates on both of those pages are greater than the rate you get from Personal Capital Cash.
Should You Use Personal Capital Cash?
If you are already a customer, it makes sense to use it for your uninvested cash. 4.10% APY is a competitive rate but not the highest among banks but it’s better than zero!
In the past, the interest rates for advisory clients and non-advisory clients were different. That appears to be gone now, everyone earns 4.10% APY on their cash.
It’s a good offer for what it is.
Learn more about Personal Capital
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