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Archive for Chase Bank

Certificates of Deposits Specials at Chase

Tuesday, July 24th, 2012

With so many banks and financial institutions, consumers can get confused as to which bank offers the best rates in terms of certificates of deposits. However, one bank that customers can rely on is Chase.

For those who are still looking for the best place to open a certificate of deposit or for those who have multiple accounts already but would want another institution in saving or keeping their money, they can try out Chase. Certificate of deposits are the best solution for those who want to save enough money and let it earn some interest. With Chase, the rates are well updated and they can assure that the money is safe and sound. The company is FDIC insured which means your money is safe for up to $250,000.

With regards to their certificate of deposits, they offer the Chase CD Specials. This is the common choice for many especially to those who have the ability to invest big amounts. The minimum opening deposit of the Chase CD Specials is $10,000. Those who are able to provide this amount can enjoy higher rates and bigger returns. The first term or the shortest term they have is the 9 month period. This has an APY or annual percentage yield of 0.25% while for the 12- month term, the APY is 0.45%. Other terms include the 36 month with an APY of 0.65%; the 60 month term with an APY of 0.90% and lastly is the 120 month with an APY of 1.75%. Those who really want to save their money will definitely find the right solution at Chase.

The Certificate of Deposit Specials at Chase

Saturday, June 30th, 2012

Many people know Chase as a huge financial institution that has been providing the best banking services. They have been considered as one of the leading financial firms globally. Since people generally trust the bank’s name and reputation, many would often go to Chase when it comes to opening certificates of deposit.

The Regular Chase Certificate of Deposit

Chase actually has two kinds of certificate of deposit accounts. The regular account requires an opening and minimum deposit of $1,000. When the account holder chooses the 6 month term then the APY or the annual percentage yield is 0.20%. For the 12 month term, the APY is 0.25% and 0.35% for the 18 month term. On the other hand, those who will be choosing the 24 month term will have an APY of 0.40% and the last APY which is 0.50% is for the term of 36 months.

Chase Certificate of Deposit Specials

A maintaining and opening balance for this second kind is $10,000. Many may be hesitant about the amount but once they find out about the rates then they will surely change their minds. An APY or annual percentage yield of 0.30% for the 9 month term while for the 13 month term, the APY is 0.45%. The 36 month term or program will have an APY of 0.75% and 1.01% APY for the 60 month term. And the last term for this kind of certificate of deposit by Chase is 120 months with an APY of 1.75%.

These are then the terms or programs that people can choose or pick when they want to have certificate of deposit accounts for their lives and for their future.

Have you ever heard of free sky miles with every swipe form your credit card? We’re sure you have, but doing your homework in order to find the best match for your needs is a different story. Fortunately, Chase bank offers the Southwest Airlines Rapid Rewards card. Equipped with a plethora of rewards, this is the perfect card for just about anyone who frequently flies in and out the country.

About Southwest Airlines Card

How does one earn points? There are many ways for the cardmember to do so – from purchases to bill payments, and even through additional card users.

For any regular purchase using the card, one point is earned for every corresponding dollar spent. These purchases can be made from various dining establishments, hotels, rental cars, or retail stores. A special 2-point reward is given once exclusive Southwest Airlines purchases are made as well.

By using your card to pay your monthly obligations, you can also rapidly up your points earned. The same goes for when you sign another authorized user under your account. You may be responsible for all the charges incurred by this additional user, but the points still go back to you.

Balance transfers also get you one point per dollar transaction. However, this offer is only limited to the first 90 days upon account opening, so better hurry up those transfers.

What can I do with the Points earned?

Once you redeem your points, you can use them to enjoy exclusive points at partner establishments. These rewards may come in the form of travel perks, hotel advantages, cruises, gift cards, and experiences you’ll never forget. As long as you keep account activity for the past 24 months, your points will never expire and will always be ready for use.

But that’s not all. Stick with the use of this card for a year, and you’ll be getting a sweet surprise from Southwest. Whether you are a Premier or Plus cardmember, you get enough points to be used for travel to your favorite destination. The bonus points of 3,000 can be redeemed for $50 worth of Wanna Getaway fare.

And because you become a Visa cardholder once you open get this card, you’ll be able to enjoy access to special dining and entertainment perks.

Bonus Points Once you Open an Account

As soon as you sign up for application, bonus points are automatically transferred to your account after your first purchase. With this, you get 25,000 points, which amounts to more than $400 in flights from their Wanna Getaway fare.

With all its amazing benefits, you won’t have to look any further. Travel rewards surely don’t get any better than this.

Watch Out For Chase’s CD Early Withdrawal Penalty

Thursday, October 15th, 2009

chase logoWe have all heard stories about hidden bank fees from ATMs and overdrafts, but there is another fee that savers need to worry about and that is the early withdrawal penalty of a certificate of deposit (CD). This penalty usually varies depending on the length of cd and what bank the cd is with. Usually for a long term CD the typical penalty is six months of interest. However, the early withdrawal penalty at Chase Bank is much more severe.

Last year if you had a CD at 5% with WaMu and that CD is now maturing as a Chase CD, it is very important to NOT allow it to automatically renew. You have a choice to not allow your CD to renew automatically, while some banks do not practice auto renewed cds, there are still those banks who like to keep your money as long as they can. This story comes from the site Bank Deals who reported about Chase’s early withdrawal penalty.

“A friend of mine had a Chase/WaMu CD flip over. It used to be at WaMu. To Cancel this Chase $100k CD, Chase wants $3k + $25. At the new interest rate of 0.20 for 12 months, that is a 15 YEAR interest penalty for canceling the CD. I know of no other bank in the world that charges this.”

Let’s say if you are on vacation and your $100k CD or even a $10k CD is coming up to maturity date. If you forget to close the CD during the grace period or the CD automatically renews, you will be liable for the early withdrawal penalty if you decide to try to get out of a second CD term. As Bank Deals’ reader found out, the penalty is much more than the usual six months of interest. Here is Chase’s disclosure (page 11), of the early withdrawal penalty for a 12 month CD:

‘For terms of one year or more, the early withdrawal penalty is equal to $25 plus 3% of the amount withdrawn.’

Plus your penalty may eat into the principal:

‘Early withdrawal penalties may require a reduction in the principle amount if the amount of accrued and unpaid interest on the deposit is less than the penalty.’

So by missing the grace period and doing an early withdrawal of the full amount, you will have to pay a large penalty to get your money out of the CD. An example is a $10k CD for more than 1 year you will have to pay a fee of $325.

Currently the Chase CD rates are not competitive, you can easily find better deals, higher interest and less penalties by going with a different bank.

Chase’s standard 12 month CD rate for Texas is only 0.25%, which you can find better rates just by searching for them. One positive note about Chase is they are a very financially sound bank and your money will be safe.