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Reward Checking Accounts (High Yield and Available to All)

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Someone else is complaining about a similar scenaro with Comcast showing up as billpay over at the BogleHeads forum.

https://www.bogleheads.org/forum/viewtopic.php?f=2&t=208994&newpost=3230094 

Seems like this could be an issue on LMCU's end

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montee4 said:   Someone else is complaining about a similar scenaro with Comcast showing up as billpay over at the BogleHeads forum.

https://www.bogleheads.org/forum/viewtopic.php?f=2&t=208994&newpost=3230094

  Thanks. They are reporting exactly my type of situation. Good to know other's experiences. Reading the responses, what is common is that (i) it happened with the MC--> Visa changover (ii) Bill payment at multiple companies have similar issues.

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I used my LMCU debit card for a transaction on PayPal, to test it, and it also showed up as a "Bill Payment" and did not count towards the 10 required.

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kwg said:   
DavidScubadiver said:   
DavidScubadiver said:   
lokimoki said:   First Arkansas B&T -
2.0% on $20K (down from 2.5% on $25K)

  Sigh...that's my only remaining RCA.  Still, beats a standard checking account hands down.

  Three years later and the rate is now 1.5% on the first 15,000. Beats a sharp stick in the eye. I believe that is an increase over a few months ago so it is nice to see a bump.

https://www.depositaccounts.com/banks/fabt.html#rates 

It's been 1.5% since 8/19/2014...

  I apparently was relying on my Mint updates regarding the interest rate on this account.  For some reason it gives me regular updates stating that the rate has changed, when it has not.   Odd.

Eta: Mint treats the monthly APY as a "change in APY" because it doesn't know the rates are tiered. When I have more than 15,000 in the account the APY is less than 1.5% as reflected on my statement which Mint treats as FAB&T having lowered their rate when in fact only the rate I am earning has been reduced, not that the rate has been "lowered".  

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My GPCU debit card was declined at two grocery stores earlier this week. I am using a chip card and entered my PIN. I called and was told it was declined because they are blocking all member transactions in my state (California) that are under $50 until March 6 due to fraud concern and can't unblock my card. I am still able to use the card to make online purchases.

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RobInBoston said:   
cdancer20 said:   
RobInBoston said:   
irate_retro said:   
ehsmath1 said:   Making 10 purchases under a dollar is unreasonable on the part of the credit union member.  Were a majority of members to use this technique to 'game' the system it undoubtedly would require LMCU to rethink the requirements for the RCA.



As for the "best rates in the country", Northpointe is paying 5% and Consumers CU is 4.59% (with some MSing required).  These 3% accounts are a dime a dozen.

  

The difference is with Northpointe, you earn 5% up to $5k - only $250/year. 3% on $20k for example is $600/yr. Currently I'm making more on my 0.75% interest checking because of no balance restrictions. Finding higher balances at 2 or 3% would be best bet.

Fyi - I don't see an advertised rate/max balance for Consumers CU but would assume same as Northpointe.   

  You must not have really looked.  Took me 20 seconds to find this.

https://www.myconsumers.org/personal/checking/free-rewards-checking.html~ 

 Earn 3.09% APY* on balances up to $10,000
•Complete at least 12 Debit/Check Card point-of-sale purchases (transactions must be made without using your personal identification number (PIN) to count toward the minimum of 12 and must post and clear your account as a credit transaction on or before the last day of the calendar month)
•Each calendar month, one direct deposit OR one ACH debit OR pay one bill when using Consumers Credit Union's free online bill payment system must post and clear your account on or before the last day of the calendar month
•Access Online Banking at least once each calendar month
•Receive eDocuments (enroll and accept the disclosure)

Earn 3.59% APY* on balances up to $15,000
•Simply meet the requirements to earn 3.09% APY . . . then add:
•Spend $500 or more in CCU Visa Credit Card purchase transactions**; no minimum number of transactions. 

Earn 4.59% APY* on balances up to $20,000
•Simply meet the requirements to earn 3.09% APY . . . and
•Spend $1000 or more in CCU Visa Credit Card purchase transactions**; no minimum number of transactions.

  
Thanks for the rude response. To clarify, there is more than one "Consumers CU" so apparently I was looking on the wrong site.
Now try not to rush to judge people so quickly and treat others better next time you interact, please and thank you. Have a great day!

  I didn't find that that rude at all.  I pointed you to the exact website and posted the exact wording.  So feel free to take how you want to.   The information is also listed multiple times in this thread.

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hair said:   My GPCU debit card was declined at two grocery stores earlier this week. I am using a chip card and entered my PIN. I called and was told it was declined because they are blocking all member transactions in my state (California) that are under $50 until March 6 due to fraud concern and can't unblock my card. I am still able to use the card to make online purchases.
  So how do they expect you to meet your min spend?  And that's crazy that they block an entire state!!  Especially one as big as California. 

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Going with provident at the moment because it seems the easiest with the highest limits. Other than the lunatics at Consumers, would you guys recommend a better option? LMCU seems a little nutty given the reports in here.

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ramboaroundtheworld said:   Going with provident at the moment because it seems the easiest with the highest limits. Other than the lunatics at Consumers, would you guys recommend a better option? LMCU seems a little nutty given the reports in here.
  What association did you join? It looks like the "Sierra Club" which was talked about a while back in another thread is no longer an option.

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ramboaroundtheworld said:   Going with provident at the moment because it seems the easiest with the highest limits. Other than the lunatics at Consumers, would you guys recommend a better option? LMCU seems a little nutty given the reports in here.  

Whats wrong with Consumers?

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Consumers credit union are out of their damn mind.  You can check their BBB reviews to see the ridiculous tactics they use with people.  Never ever dealt with a bank that operated like that.

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never had any problems with CCU. In 2.5 years, always rec'd the correct interest and the 3% on up to 6k on the cc. I actually think they are a great option to get 4.5% although you must be a good record keeper to keep all the details in place. SDorry you feel that way rambo!! In the real world, you have to see reviews from all folks.

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barrytuneup said:   never had any problems with CCU. In 2.5 years, always rec'd the correct interest and the 3% on up to 6k on the cc. I actually think they are a great option to get 4.5% although you must be a good record keeper to keep all the details in place. SDorry you feel that way rambo!! In the real world, you have to see reviews from all folks.
  Barry I never even got my foot in the door.  Bunch of damn jokers over there.  I'll be honest though, even with the hell they put me through, if they told me tomorrow I could get the account and visa, I'd still take it.  

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now I remember they did 2 hard pulls and called me a few times for more info, so it was not very easy opening these accts.

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I agree with others here. I have never had a problem with CCU. I have the Visa and checking acct. I don't remember 2 hard pulls but that was so long ago that who knows.

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Thanks to you folks on FW, I opened the CCU accounts for myself and my husband almost 9 months ago.

Establishing the 3 accounts (share/checking/visa) for each of us went okay but there were many phone calls to our new account rep. She was very helpful. I told them we wanted to maximize all their offerings and intended to achieve the 4.59% each month for both accounts.

Their website is crap as far as timeliness of posting debits/charges/credits and it was very confusing for the first three months negotiating 3 accounts each for 2 members, the different cut off dates, how Visa returns affect your Visa account balance, but I figured out their game and it's been smooth sailing for almost a year now.

I like that we earn 4.59% on the checking and also earn on the 1% on the Visa.

We used the ATM cards in Europe this summer and they reimbursed us the fees.

12 Debit transactions: We were hitting our grocery store for the debits. 7 19 cent bananas = 7 separate transactions. Now the grocer's machines limit use to 5 same card transactions per day. It is necessary for us to take a toll road to across town and I found we can pay in 30 cent increments so that pretty much takes care of the 12 debit transactions each all in about 10 minutes during the first week of the month. Then I know it's done. If I wait until later, sometimes it takes 4-5 days for debit transactions to post.

To get the $1000 Visa minimum spend: I put all our routine/scheduled monthly bills and utilities on one of our Visas (autopay) which gets us to almost the $1000 minimum spend requirement and we fill in from there. I set up the autopay for early in the month so I can better estimate what we need to spend for the balance of the month and accommodate any big ticket item returns. I bought a camera with the visa the first week of the month and ended up returning it the third week and it deducted from the visa on the last day of the period resulting in my not reaching the $1000 minimum spend. So I'm careful now about the timing of returns.

I think it was one hard pull for each of us for the Visa card.

We don't have direct deposit for either account but I set up autopay from each of our checking accounts of $5 to go towards a fridge we bought from Best Buy. That too is automated and during the first week of the month so I know it's done.

So my feeling is I'm happy with CCU now that I understand how things work. In 9 months we made $1500 as a couple.

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ramboaroundtheworld said:   Consumers credit union are out of their damn mind.  You can check their BBB reviews to see the ridiculous tactics they use with people.  Never ever dealt with a bank that operated like that.
I started using CCU's RCA feature and definitely had issues with transactions (at a few large chains) not counting even when selecting credit and not using a PIN.  At least via SM they identified which weren't counting as signature so i can avoid in future, but it is a bit of a burden on the customer when you can't get reliable counting.  LMCU is so much easier as they just count everything.

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gosh. i dont know how long have i been with CCU. Probably 5 years, and they never missed a good thing!

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RudolfSchmidt said:   I'm about to dump Lake Michigan CU because their check card no longer works for me. I used to pay my Cox cable bill ten times to satisfy the purchase requirement, but suddenly they began coding them differently. When I tried using the card at Ralphs groceries, it asked for a PIN number even when I chose credit. I called LMCU customer service and they were no help. Anyone else experience this problem with LMCU or have a solution?
  
A lot of stores do that, hoping to get you do process as debit anyway. Did you choose "cancel" when prompted for a pin?  I had that happen with the old LMCU debit card as well.

Tom

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barrytuneup said:   now I remember they did 2 hard pulls and called me a few times for more info, so it was not very easy opening these accts.
  
For the two pulls, did that include the Visa as well, or were they just for the share / checking accounts?

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anyone here with Greater Nevada Credit Union? They just started offering a 3% account. Not sure if its a hard pull with them or how strident they are with their membership requirements:

https://www.depositaccounts.com/banks/greater-nevada-credit-unio...

https://www.gncu.org/Personal/Accounts/Checking-Accounts/Aspire-...

According to the lady on the phone there isn't a minimum on purchases and ach qualifies as a DD, but I'm not sold on her knowing what she was talking about.

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Not exactly reward checking, but an interesting alternative that may of interest to some folks. Bank/credit card hybrid launching in 2017 with up to 3% cash back on card purchases: Zero Financial. $100k annual spend required or ambiguous other ways to qualify.

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uberasjones said:   Not exactly reward checking, but an interesting alternative that may of interest to some folks. Bank/credit card hybrid launching in 2017 with up to 3% cash back on card purchases: https://zerofinancial.com/SECURE21221. Early access signup: https://zerofinancial.com/ZERO21085
  100K in annual spending to qualify for the 3% is a bit high, but I bet there are some out there that can pull that off

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ramboaroundtheworld said:   anyone here with Greater Nevada Credit Union? They just started offering a 3% account. Not sure if its a hard pull with them or how strident they are with their membership requirements:

https://www.depositaccounts.com/banks/greater-nevada-credit-unio...

https://www.gncu.org/Personal/Accounts/Checking-Accounts/Aspire-...

According to the lady on the phone there isn't a minimum on purchases and ach qualifies as a DD, but I'm not sold on her knowing what she was talking about.


Think the thread is only for nationwide deals.

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uberasjones said:   Not exactly reward checking, but an interesting alternative that may of interest to some folks. Bank/credit card hybrid launching in 2017 with up to 3% cash back on card purchases: Zero Financial. Early access signup: Text

Post might be removed for referral links.

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jamesfatwallet said:   
ramboaroundtheworld said:   anyone here with Greater Nevada Credit Union? They just started offering a 3% account. Not sure if its a hard pull with them or how strident they are with their membership requirements:

https://www.depositaccounts.com/banks/greater-nevada-credit-union/offers/

https://www.gncu.org/Personal/Accounts/Checking-Accounts/Aspire-Checking

According to the lady on the phone there isn't a minimum on purchases and ach qualifies as a DD, but I'm not sold on her knowing what she was talking about.


Think the thread is only for nationwide deals.

  I have had an account with GNCU.ORG for over a year. I do 15 $1 +/- transactions each month. Have not tried ACH. I did miss the bonus on month, because they follow a calendar one day behind on CC transactions to qualify for the rewards (ex. for April: March 31-April 29). I completed the last two on the last day of the month and they would not budge on reversing the decision of giving rewards. Although they did credit me back fees. Hope this helps.

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Doctor of Credit just updated information on NorthPointe Bank

Possible 5% if you meet the terms. Now capped at $10,000 deposit.

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JW10 said:   Doctor of Credit just updated information on NorthPointe Bank 

Possible 5% if you meet the terms. Now capped at $10,000 deposit.

reading the quotes on DoC it looks like they'll pull the plug on this once they see everyone making 15 $.50 Amazon debit card reloads.  don't get your hopes up with them.  

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ramboaroundtheworld said:   
JW10 said:   Doctor of Credit just updated information on NorthPointe Bank 

Possible 5% if you meet the terms. Now capped at $10,000 deposit.

reading the quotes on DoC it looks like they'll pull the plug on this once they see everyone making 15 $.50 Amazon debit card reloads.  don't get your hopes up with them.  

  Either that or actually use it for genuine ordinary purchases.  They have to be paid somehow, so why not with the bank that's trying to bring 5% back into our lives?

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naas said:   
ramboaroundtheworld said:   
JW10 said:   Doctor of Credit just updated information on NorthPointe Bank 

Possible 5% if you meet the terms. Now capped at $10,000 deposit.

reading the quotes on DoC it looks like they'll pull the plug on this once they see everyone making 15 $.50 Amazon debit card reloads.  don't get your hopes up with them.  

  Either that or actually use it for genuine ordinary purchases.  They have to be paid somehow, so why not with the bank that's trying to bring 5% back into our lives?

  It's the principal. Nobody feels like they are gaming the system if they actually use the card.  Plus with these low caps, if you have high enough savings you need to use multiple debit cards for your genuine ordinary purchases, and probably don't even make enough of them to qualify.  And, is it even the case that the bank makes less money on 10 50 cent transactions than it does on 10 $10 transactions?  Maybe they'd make about 3/4 of a penny more with the latter usage.

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https://www.northpointe.com/banking/personal-accounts/ultimateaccount/

I found this one, it's nationwide, and it earns 5.00% APY up to $10,000. probably the highest I've seen. Can anyone tell me one higher than 5.00% in Texas please?

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Fatgirl94 said:   https://www.northpointe.com/banking/personal-accounts/ultimateaccount/ 

I found this one, it's nationwide, and it earns 5.00% APY up to $10,000. probably the highest I've seen. Can anyone tell me one higher than 5.00% in Texas please?

  Where did you find it? By reading the posts before yours...dumbass...

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