I was going to start a new thread, but since there is already a bit of discussion...

There is a new $50 bonus and the new rate is 2.15% APY, according to an ad in the Oregonian yesterday. Here is a scan of the offer:

Basically, call 1-800-753-5651 with code CPD14, and get $50 if you open with $5000 and keep it there for 90 days. Pretty sweet if you keep $5k in ING or VirtualBank anyways, since those guys have no minumums and the interest rate is basically the same. Just move $5k over for 90 days and get $50.

Otherwise, account rules are similar to above. I applied today over the phone, and there is online access. I have to wait for the signature card and send in a check with my initial deposit. Free ATM rebates is pretty sweet too!

- There IS a hard credit pull with an app.
- No, I could not find a link for this online, ya gotta call.

GMACBANK.com is better. Lower min, higher rate, and free ACH push and pull. I have used it for about two years.

http://www.gmacbank.com/savings.do

Edit by Moderator: Sorry referrals are not allowed. Thank You

Sorry. Saw the 2.01% in the subject line. When I compared these two account a while back, to me it seemed like the GMAC was clearly a better account. The min balance is only $500. GMAC also added ACH that you can do from their website. It is very simple to use. They also have ATM rebates. But you are correct, it seems Metlife now has a slightly higher APR. Choose what is most important to you individually.

Philip Salis
Vice President MetLife

Dear :

Whatever your current savings or investing mix, you should consider a money market account with MetLife Bank. With an opening balance of $5,000 or more, you'll enjoy a current money market rate of 2. 15% APY — more than double the national average** — with benefits of liquidity and safety, And when you fund your account with $5,000 or more by November 30. you'll get a $50 cash bonus (just keep these funds on deposit for 90 days).
Call 1-800-477-5670 today to make the most of this high rate.
Getting started is easy. Just call 1-800-477-5670 (mention code CPM5). Or go to www.metlifebank.com. Once you're set up, you'll enjoy today's convenient access to your money via ATM. check, phone or online. So you can keep your cash growing and still have it available if you need it.
Plus, there's no need to switch banks — your MetLife Bank money market account can be linked to your existing checking account for easy withdrawals and deposits. You can even increase your savings automatically with regularly scheduled transfers.
Call today. Because MetLife is here to help you meet all of life's possibilities — today's and the ones to come.
Sincerely,

Philip Salis Vice President MetLife
P.S. Simply open your new Money Market Account by November 30. 2004 to receive your $50 cash bonus. So call 1-800-477-5670 today.
Bank products and services are available through our affiliate. MclLife Bank. N. A., Member FD1C.
1 The bonus will be credited to your account approximately 90 days after your account is funded. One bonus per customer.

the application and bonus offer is now online (from banner at bankrate.com). looks like metlife is expanding their promotion.

http://129.33.238.81/metlife_bank/index50.html?promo=CPW3

I opened an account 10/1, sent in check 10/15. For some reason I wasn't credited any interest for October yet, I'll wait a couple of days.

Experian hard pull

koRebate said:yes, Experian hard pull, than application lost, than another hard if one complain.

are you sure???

koRebate said:yes, you need to file a new application when they can't locate old one. So, do not use the web to apply. Then, finally, got the paperwork only 2.11% APY in writing.

lock $5000 for 4 or more months, low interest, bothering application, potential negative effect on credit...
for $50 bonus(if lucky),
My, I may just ignore it.

legab25 said:Good news, they have increased their interest to 2.20%.
I just opened an account with the $50 bonus by switching from Virtual Bank.

Where do you see 2.2%? Both their main website and the promotion list 2.15%.

Mark

hmmm...verrrry interesting (no pun intended).

It seems they have 2 different programs/websites with different rates.

This other one "metlife at work" mentions it is a "preferred savings plus" which seems to have 0.05% higher rates overall on all products.

Much like UFBDirect bank which has different programs/websites with different rates.

Might be worth a call to see how can switch into the better program.