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Andrews And GTE - Will History Repeat?

Kaight
  |     |   1,192 posts since 2011

The Andrews 7 year 3% CD deal last fall was a pretty great deal, one in which many of Ken's readers participated including myself. Back then I foolishly believed Andrews was going to be the first in a whole string of wonderful opportunities for us rate chasers. How wrong I was. Andrews, instead, turned out to be a one-off.

Well, it's fall again and this year Ken has given us the GTE Financial deal. It's a GREAT deal for CD rate chasers, every bit as good I think as Andrews. Sure the GTE interest rate is slightly lower, but the term of even their longest promo CD is a LOT shorter than seven years, and the GTE CDs offer an add-on feature to boot. Everything considered, while the Andrews and GTE deals are different, they are comparable in that both are terrific for us rate chasers and, again, both are fall deals.

Not wanting to make the same error twice, I ask myself at this point is GTE also a one-off? Or is the GTE deal merely an appetizer, heralding many more great CD deals soon to come? Sure wish I knew the answer to that.

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lou
  |     |   1,004 posts since 2010
Yeah, I missed the Andrews deal and I am probably going to pass on the GTE deal, too. Today, I don't have $100,000 available, although will have it when the NWFCU and Penfed CD's come due in Oct and Dec next year, respectively. So I could invest $500 today to get a CD at an interest rate of 2.52%, and by the time I have the money to add to the CD, the remaining time left in the CD will be from 16 to 18 months. I may be wrong but I think there will be better opportunities in a year than 2.52%, particularly if I am willing to go out further in maturity than the 14 to 16 months range. Of course, I could buy the darn thing just as an insurance policy, but not sure I want another bank account (have plenty already) if I don't intend to use it. Close call.
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