Sunday, January 23, 2011 - 1:37 PM

Valentines Day CD Promotion At Flushing Bank Via Giftsforbanking.Com - Up To $325 In Gifts

Giftsforbanking is giving away two Ralph Lauren robes and champagne flutes for signing up for new 2 or 3-year CDs - minimums apply.

Expires midnight Feb 14th.

Follow the link for more info. This bank (Flushing Bank) has been giving some of the CD highest rates consistently over the past 6 months.

johnfinnaway3 posts since
Jan 23, 2011
Rep Points: 10

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Quick
Summary

1. Monday, January 24, 2011 - 12:00 PM

I'd rather get cash and a higher interest rate than their gifts and a measly 1% ($10,000 minimum) for a 2-year and 1.25% ($5,000 minimum) for a 3-year CD. What's so great about that? Besides, the value of the gifts (including applicable sales tax and delivery costs) is considered as interest for tax purposes (Form 1099-INT) in the first year the account is opened. IMO, this is a great deal for the bank and not the customer.

WhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,577

2. Monday, January 31, 2011 - 7:25 PM

Let me understand: you'd rather get an extra $100 (0.5% on $10k for 2 years) than $400 in gifts??

I don't know exactly how much the gifts are worth but it's a lot more than $100.

Yes you get a 1099 but your $100 isn't tax free either.

Please explain.....to me this is a pretty good deal.

johnfinnaway3 posts since
Jan 23, 2011
Rep Points: 10

3. Wednesday, February 2, 2011 - 3:36 PM

I have had a pleasant experience with giftsforbanking.com in the past. They have the greatest gift ideas and the process from start to finish has been very pleasant for me.

toetalee7 posts since
Feb 2, 2011
Rep Points: 10

4. Friday, February 4, 2011 - 8:13 AM

this is great, if you need robes and flutes. If you don't, it's just clutter and I'd prefer the cash.

garion2 posts since
Feb 3, 2011
Rep Points: 15