Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Back to Comments and Questions

Thoughts On Ford Credit? 1.11% APY

Tuesday, October 29, 2013 - 10:16 PM
http://www.fordcredit.com/interestadvantage 

Obviously, not FDIC insured.

 

How would one pay taxes on this? Is it simple interest (1099-INT) or something a bit more complex?

 

 

Original article from Ken a few years ago:

http://www.depositaccounts.com/forum/thread/safety-of-ford-interest-advantage-account.html
3
DaveDave23 posts since
Jul 21, 2010
Rep Points: 71
1. Wednesday, October 30, 2013 - 3:22 AM
It's the same as CDs. You will get a 1099 for the interest that is credited to your account.
3
loulou521 posts since
Aug 3, 2010
Rep Points: 3,239
2. Wednesday, October 30, 2013 - 3:15 PM
Doesn't seem to be a high enough rate to get over not being FDIC insured. 
3
ChrisCDChrisCD66 posts since
Nov 18, 2010
Rep Points: 409
3. Wednesday, October 30, 2013 - 4:56 PM
Hi Chris, I agree with you but at least Ford Credit has recently been upgraded to an investment-grade status, so for the time being I think the chances of the company defaulting on these securities are pretty low. Although if I had money in this account, I would watch it carefully.
1
loulou521 posts since
Aug 3, 2010
Rep Points: 3,239
Reply