I've written about ING Direct before, but now is definitely the time to switch.
ING Direct offers high-yield savings accounts, checking accounts, and CDs from 3.5% up to 5% (rates fluctuate occasionally). If you get the Electric Orange checking account, you can also get a MasterCard debit card.
So, if that's not enough for you, ING is running another cash-back promotion (which they did for a 2-month period in the summer) from November 15th, 2007 through December 31st, 2007. For every transaction you make with your Electric Orange MasterCard debit card, you get 1% cash back. Beat that, every other bank!
So, if you let your money sit there, you get around 3.5% in interest. If you spend it, you get 1% cash back. This sounds like a win-win to me.
1
UR of http://www.ezrep.com
Money MANAGEMENT is what it is all about. 1% back when spending money is not bad AS LONG AS you do not spend more money than you normally would to try and maximize the 1% back. My comment would be to concentrate on saving as much of your SHORT TERM money at 3.5% and not worry about the 1%.
Posted at November 9, 2007 on 1:54am