Is Rate Chasing Worthwhile?

I think that in general, if you don't want to deal with the restrictions of reward checking accounts and stick with just online savings, the mere .5% change in rate is not worth it.

Take SmartyPig for an example, they already sent me 4 emails about impending drop in rate from 2.01% to .5%. That alone is enough to get me moving to another bank with at least 1.2 % and keep the remaining balance below limit @ SmartyPig to earn their 2.15% rate.

If you don't have that much in the account moving it yields you only "chump change".  If you have a six dollar figure to invest, the tenths of a percent difference is significant.  It helps to reduce the overall debits from your net asset figure.