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  4. Marcus Rate Bump CD- For All Of Us Waiting On The Sidelines, Is This A Good Idea?

Marcus Rate Bump CD- For All Of Us Waiting On The Sidelines, Is This A Good Idea?

sams1985
  |     |   781 posts since 2022

It's a little unclear on the website but does the new Marcus rate bump CD have it's own set of rates/terms or do you buy a regular Marcus high yield CD and get to bump the rate once over the life of the CD?

All of us on the sidelines are getting a little impatient and wary but this may seem like a good idea to lock in a solid 3.2% 5 year CD rate and get to bump it once in a couple of months if CD rates do shoot up. And if they don't still locked in a pretty decent rate and wont have to worry about when the peak is coming.

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Answers
alan1
  |     |   877 posts since 2015
The Marcus website is quite clear. The Rate Bump CD has a 20-month term, with an APY of 2.50%.

1. https://www.marcus.com/us/en/savings/ratebumpcd

2. If, for some reason, that is unclear to you, go to the application to open a Rate Bump CD. The only term length listed for such a CD is twenty months.
https://www.marcus.com/us/en/savings/new/account-creation?accountType=RBCD

3. Please do not post the same question thrice. Please do not assume that your initial submission will not appear on this site. Thank you.
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sams1985
  |     |   781 posts since 2022
Thank you for your response. Apologies, i kept getting an error so assumed it did not go through. Hopefully the moderators can remove the duplicate submissions, I can't figure out how to delete them.

What's your take on where long term CD rates are going?
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1
Infinityy
  |     |   107 posts since 2020
The "rate bump" feature is likely not worth it. Right now you can buy a 18-month CD at Fidelity at 3.1% and a 24-month CD at 3.3%. I don't think 2.5% is competitive
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