Cit Bank---Interesting

happyharold4
  |     |   358 posts since 2022

I just started to make a larger transfer out and got a pop up blocking the transfer---In it was an offer to add 0.096 to my Platinum rate for 12 months---I called them to verify and the offer was legit. Just can't make that transfer today but ok tomorrow to transfer funds out. So if you have funds in Platinum you might want to initiate a large transfer and see if you get the same solicitation. Here's the pop-up.

Earn more with an updated rate

The current interest rate on your Platinum Savings account is 4.879%, with an APY of 5.00%.*

We'll increase your interest rate by 0.096% for the next 12 months.

That means your new interest rate will be 4.975%, and your APY will be 5.10%.*

And don't worry if the standard, published interest rate on the account changes, your interest rate will move with it, remaining 0.096% higher than the published interest rate for the next 12 months.

*Platinum Savings is a tiered interest-rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. The Current APYs (Annual Percentage Yields) shown above are the standard, published APYs for each tier (exclusive of any interest rate increase) as of the effective date shown above. Interest rates for the Platinum Savings account are variable and may change at any time without notice.




Kirkland
  |     |   349 posts since 2014
Thank you for the interesting post! I must try it and see if I get your nice offer. Are you saying if you receive the offer, you just can't transfer it out that day, but you can make the transfer tomorrow, and still have received the guarantee for the next 12 months? You have to call them to accept? I actually have two of the accounts, because of different beneficiaries. Here is hoping I receive the offer on both. :)
mffarrell
  |     |   95 posts since 2018
Had this happen to me today as well. Cancelled the transfer and took advantage of small increase.
MAKNYC
  |     |   320 posts since 2015
Great info, although no love for me. Tried mid 5 figure x-fers to Synchrony and Barclays and nothing offered. Someone please figure out the requisite transfer amount or receiving firm that triggers the offer…..finally some good and relevant deposit account info posted on this website!
Sensible
  |     |   33 posts since 2023
Maknyc, I got it with less than mid 5 figure, but it was a large percent of the balance. It's possible a factor is movement toward removing most of your balance -- worth a shot.
I_eat_bass
  |     |   37 posts since 2024
only a brain dead liberal would bank with CIT, what a terrible rate for a savings account
happyharold4
  |     |   358 posts since 2022
Not that your attitude is worth a reply, but my rate with them is 5.10 APY which is a very reasonable rate for a liquid account.
I_eat_bass
  |     |   37 posts since 2024
5.1 is garbage treasury bills are paying more than that
happyharold4
  |     |   358 posts since 2022
@MAKNYC---The amount I used was 25K to trigger the pop-up. You don't have to call, but it is wise as I wanted to be sure there were no " gotcha " small prints. I checked my account and it is now at 5.10 apy.
gratitudecd
  |     |   83 posts since 2022
Thank you it did it for me and added .0096% higher but how long will it take to reflect? I accepted it and confirmed it.
MAKNYC
  |     |   320 posts since 2015
If anyone that received this offer is willing to disclose, what firm were you attempting to move the assets to? I am thinking it could also be targeted based upon that.

Update: Ignore this post....I now tried again with a larger transfer request (to Synchrony) and that triggered the offer.  Woo Hoo.  Happy Harold now made Happy MAKNYC!
Trees
  |     |   15 posts since 2024
Thank you Happyharold4. You made my day. I new here and couldn't be happier.
chorizos
  |     |   59 posts since 2023
Thank you as well. I had no reason to look at moving money out of this account the remainder of this year, so would have never known if you had not posted. Thank you again.
happyharold4
  |     |   358 posts since 2022
Well thank God several of you were able to take advantage of this---It's not much, but every little bit helps these days---I only have 3 HYS accounts and Cit was the lowest rate---The other HYS's that I tried turned me down, either because of Chex Systems or because my hub account is in the name of a trust.
chorizos
  |     |   59 posts since 2023
Chex Systems still causing problems for people! Been there done that, now just sitting in purgatory, waiting for my score to go up!
Setherial
  |     |   39 posts since 2023
@chorizos,

So nothing to do with this thread or CIT in general but here's my post from another thread about Northwest Credit Union and their declination of my application for a checking account:

"So got the denial letter in the mail and it IS ChexSystems that was used as the reasoning for the declination of the account; reasons listed are:

1.) "No evidence of property ownership"; so I can't be a less well off person that rents to open a checking account?

2.) "No evidence of asset ownership"; guess my paid off $15k+- used car doesn't count.

3.) "Non-derogatory public record history"; what in the f**k does that even mean? Lack of history via ChexSystems as I've got like four total instances for my entire adult life in the report?

4.)"Time at current address"; renting for 11 years at the same apartment is too short/long?"


Funner then hell.
chorizos
  |     |   59 posts since 2023
lol......surprised they didn't also add that you drive gas powered vehicles versus EV's.
happyharold4
  |     |   358 posts since 2022
@chorizos---Good sense of humor---Need that these days
Ally6770
  |     |   4,156 posts since 2010
Everyone has access to a lot of information on us.
Read in the NYTimes last night that the gov has up to 313 items about a person and they want to combine them all together now.
This includes SS and account numbers, medical, schooling, all addresses, military, children, marriages, but passwords and sign ins that one surprised me. I hope the sign ins and passwords are with gov accts only. They had a list of them. I did not read them all but sent it on my friends.
bobert456
  |     |   181 posts since 2022
I had spotted this post, and sure enough .... I got a notice. Not sure why my rate is better... could be the CU I was moving it to ....... or they had just dropped their rate from 4.71 down to 4.2, or my transfer amount (250K) .... but they offered me a sweet .431 for 12 months .... this BONUS rate stays in effect for 12 months, so they add it to my account when do the monthly rate calculation .... so now the BASE rate is 4.1, so I "think" my rate is 4.531 with the bump. They say you can only get one bump ... and if you accept it ... it stays for 12 months and YOU CANNOT GET ANOTHER bonus bump for 12 months! - ALSO they told me they can try to price match ON MATURING CDs with them so you won't move the money out. I don't have any ... and they will not price match to get/keep money for a NEW CD.

Anyway ... sorry for the long post, but I have never seen this automatic offer for an interest rate bump before.... and did not realize it stays for 12 months. .431 really helps on the rate.
happyharold4
  |     |   358 posts since 2022
I was fortunate---They allowed me to keep the first bump and gave me a second on top of it---I guess they have have changed their policy on that now---They watch this site and post up periodically.
Ally6770
  |     |   4,156 posts since 2010
Heard the other day on one of the business channels that Citi and PNC were most vulerable because of  their retail loans.


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