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Should I Convert No-Penalty Cd To Another With Higher Rate?

DAuser
  |     |   4 posts since 2017

I have an 11-month, Ally, no-penalty CD @ 1.25% that will mature in November 2017. They are currently offering the same product @ 1.5%.

Seems like it would make sense to convert. Am I overlooking something?

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Answers
TheBombingRange
  |     |   104 posts since 2017
Close the CD and reopen it right now! It takes 10 minutes and immediately gets you a higher rate. I did this process twice before and it was extremely simple over the phone.
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DAuser
  |     |   4 posts since 2017
Followed your advice and started the process. Since the CD is in a trust, it takes 3-5 business days to complete.

Thanks.
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