On December 15, 2021, HM Bradley announced that in order to get 3%, you would have to get their credit card and spend at least $100 each month on the card to get the 3% on your balances up to $100,000, otherwise, you will get 1% with a 20% savings rate. While this is still a good offer, it's an additional requirement that you must meet to get the 3%. ETA: Direct deposits must also be at least $2,500 a month to get the 3%.
Literally for the customers who already got their account, with these changes they are forcing them into owing a credit card. I'm afraid once they get these cc customers, they might bring down the APY % & leave all in lurch :( Shabby strategy. Do you recommend getting the cc ? Or is there any other better banks with similar % for 100K balances ?
@@shekhargr81 This is the best offer that I've seen, and unfortunately, they keep changing the requirements. It's probably because they are losing a lot of money on it. I've seen 5% but that's limited to the first $1,000 or so. If you don't need the money for a year, I bonds from the government are currently paying 7.12% but that's only guaranteed for the first six months and your money is locked for one year. Also, you're only limited to buying $10,000 in I bonds a year. I have a video on I bonds here: ua-cam.com/video/7nlYdi_6Ow8/v-deo.html
Hi Mia, Thank you for the suggestion, I looked into it and unfortunately I would not be able to qualify since I work for a small firm that still pays using the old school paper checks method. I noticed you heard about this referral offer through a podcast. What other personal finance or investing podcasts do you recommend? There are so many I don't know where to start. Thank you!
The referral link still works but HM Bradley just sent an email today updating their terms. To get the 3% APY, you will now need to get their credit card and put a minimum of $100 on it each month. Still not a bad deal, but it's an additional requirement.
It's not my referral code. The referral code is from a source that I'm not affiliated with, but it's the only way that people can open an account right now, otherwise you would have to be on the waiting list.
@@mia-pham did you look into the offer... its a scam... you open an account and you get their credit card... then as you spend and put money into the account they give you money back.... you can do the exact same thing by getting a credit card that gives you 3% cash back....
I've been getting 3% on my deposits. As I mentioned in a previous comment, the credit card is a new requirement that they just added (after I made the video), which will become effective in February 2022. The 3% is on balances up to $100,000 so you would have to spend a lot on your credit card (with 3% cash back) to get that. You only need to put a minimum of $100 on your credit card each month to get 3% on balances up to $100,000, which you could meet by paying a cell phone bill or some other bill.
On December 15, 2021, HM Bradley announced that in order to get 3%, you would have to get their credit card and spend at least $100 each month on the card to get the 3% on your balances up to $100,000, otherwise, you will get 1% with a 20% savings rate. While this is still a good offer, it's an additional requirement that you must meet to get the 3%.
ETA: Direct deposits must also be at least $2,500 a month to get the 3%.
Literally for the customers who already got their account, with these changes they are forcing them into owing a credit card. I'm afraid once they get these cc customers, they might bring down the APY % & leave all in lurch :( Shabby strategy. Do you recommend getting the cc ? Or is there any other better banks with similar % for 100K balances ?
@@shekhargr81 This is the best offer that I've seen, and unfortunately, they keep changing the requirements. It's probably because they are losing a lot of money on it. I've seen 5% but that's limited to the first $1,000 or so. If you don't need the money for a year, I bonds from the government are currently paying 7.12% but that's only guaranteed for the first six months and your money is locked for one year. Also, you're only limited to buying $10,000 in I bonds a year. I have a video on I bonds here: ua-cam.com/video/7nlYdi_6Ow8/v-deo.html
Hi Mia,
Thank you for the suggestion, I looked into it and unfortunately I would not be able to qualify since I work for a small firm that still pays using the old school paper checks method. I noticed you heard about this referral offer through a podcast. What other personal finance or investing podcasts do you recommend? There are so many I don't know where to start. Thank you!
Sorry it didn't work for you. The ChooseFI and Afford Anything are good podcasts that I'd recommend.
Am I too late to try the referral link?
The referral link still works but HM Bradley just sent an email today updating their terms. To get the 3% APY, you will now need to get their credit card and put a minimum of $100 on it each month. Still not a bad deal, but it's an additional requirement.
@@mia-pham where is the referral code link?
@@mimidip5 Here's the link: hmb.to/ThinkingIsCool
@@mia-pham thank you
why do you say you don't get anything out of it... its a referral...
It's not my referral code. The referral code is from a source that I'm not affiliated with, but it's the only way that people can open an account right now, otherwise you would have to be on the waiting list.
@@mia-pham did you look into the offer... its a scam... you open an account and you get their credit card... then as you spend and put money into the account they give you money back.... you can do the exact same thing by getting a credit card that gives you 3% cash back....
I've been getting 3% on my deposits. As I mentioned in a previous comment, the credit card is a new requirement that they just added (after I made the video), which will become effective in February 2022. The 3% is on balances up to $100,000 so you would have to spend a lot on your credit card (with 3% cash back) to get that. You only need to put a minimum of $100 on your credit card each month to get 3% on balances up to $100,000, which you could meet by paying a cell phone bill or some other bill.