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Top 10 Best Small Business Credit Card Bonus Offers – February 2025

Sat, 02/15/2025 - 03:06

Updated February 2025. Do you have small business income or work as an independent contractor? Freelance, Uber/Lyft, DoorDash, Amazon, eBay, Etsy, Airbnb? A small business credit card separates your personal and business expenses and can build up your business credit profile. If you are not a corporation or LLC, you can apply as a sole proprietorship, with your name as the business name and your Social Security number as the Tax ID number. These are the top 10 credit card offers that I would personally apply for right now (or have already). Recent changes:

  • Added Delta Gold 90k, Marriott 125k, United 100k, Hyatt 60k+FreeNightAward, Alaska 70k, Spark $2,000, Amex Gold 100k, Platinum 150k.
  • Removed Citi AA 75k, Hilton 175k, Ink Unlimited $900

This is a companion post to my Top 10 Best Credit Card Bonus Offers for personal cards. Notice that small business bonuses are on average even higher than those on consumer cards.

Capital One Spark Cash Plus Card

  • $2,000 cash bonus after $30,000 in the first 3 months. Additional $2,000 cash bonus for every $500K spent during the first year. See link for details.
  • Unlimited 2% cash back spent on all purchases with no limit.
  • $150 annual fee; Spend $150,000 annually and Capital One will refund this fee every year.

The Business Platinum® Card from American Express

  • 150,000 Membership Rewards points after $20,000 on eligible purchases in the first 3 months. See link for details.
  • American Express Global Lounge Collection® provides complimentary access to more than 1,400 airport lounges across 140 countries and counting, including their exclusive Centurion lounges.
  • $1,000+ in value per year via statement credits on select purchases, including tech, recruiting and wireless. Enrollment required.
  • $695 annual fee.
  • See Rates and Fees

Delta SkyMiles® Gold Business American Express Card

  • 90,000 Bonus Miles after $6,000 in purchases in the first 6 months. Limited-time offer ends 4/2/25. See link for details.
  • 60,000 Skymiles are worth at least $600 in Delta airfare with “Pay with Miles” option.
  • First checked bag free on Delta flights ($70 value per roundtrip, per person).
  • $200 Delta flight credit. Get a $200 credit to use toward future Delta travel after $10,000 in purchases within a calendar year.
  • $0 introductory Annual Fee for the first year, then $150.
  • See Rates and Fees

World of Hyatt Business Credit Card

  • 60,000 Bonus Points + Free Night Award. 60,000 Bonus Points after $5,000 on purchases in first 3 months. Plus, 1 Free Night Award at any category 1-4 Hyatt hotel after $15,000 on purchases within the first 6 months.
  • Up to $100 in Hyatt statement credits – spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year.
  • $199 annual fee.
  • Subject to 5/24 rule.

American Express® Business Gold Card

  • 100,000 Membership Rewards points after $15,000 in eligible purchases in the first 3 months. See link for details.
  • Up to $240 Annual Flexible Business Credit. Earn up to $20 in statement credits monthly after you use the Business Gold Card for eligible U.S. purchases at FedEx, Grubhub, and Office Supply Stores. Enrollment is required.
  • Up to $155 Annual Walmart+ Credit. Get up to $12.95 back in statement credits each month when you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Business Gold Card. Enrollment is required.
  • Annual fee is $375.
  • See Rates and Fees

UnitedSM Business Card

  • 100,000 bonus United miles after $5,000 in purchases in the first 3 months. Limited-time offer. See link for details.
  • Free first checked bag for both you and a companion (a savings of up to $160 per roundtrip).
  • 5,000-mile “better together” bonus each anniversary when you have both the UnitedSM Business Card and personal Chase United credit card.
  • Primary rental car coverage when renting for business purposes.
  • $99 Annual Fee.
  • Subject to 5/24 rule.*

Capital One Venture X Business Card

  • 150,000 Miles (worth $1,500 towards travel) after spending $30,000 in the first 3 months. See link for details.
  • $300 annual travel credit. Get up to $300 in statement credits when booking through Capital One Travel.
  • Additional 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.
  • Capital One Lounges, Priority Pass(TM) and Plaza Premium Group lounges access.
  • Up to a $120 credit for Global Entry or TSA PreCheck(R).
  • $395 annual fee.

Ink Business Preferred® Credit Card

  • 90,000 Ultimate Rewards points (worth $900 straight cash back or $1,125 toward travel when redeemed through Chase Travel) after $8,000 in purchases in the first 3 months. See link for details.
  • 3X points on the first $150,000 spent on travel, shipping purchases, internet/cable/phone services, and advertising purchases with social media sites and search engines.
  • Primary rental car coverage when renting for business purposes.
  • $95 annual fee.
  • Subject to 5/24 rule.*

Ink Business Unlimited® Credit Card

  • $750 bonus cash back. (75,000 Ultimate Rewards points) after $6,000 in purchases in the first 3 months. See link for details.
  • Flat 1.5% cash back on all purchases with no limit.
  • No annual fee.
  • Subject to 5/24 rule.*

The Hilton Honors American Express Business Card

  • 130,000 Hilton Honors Bonus Points after you spend $6,000 in purchases on the Hilton Honors Business Card within the first six months of Card Membership. See link for details.
  • Up to $240 in Annual Hilton Credits. Get up to $240 back each year on eligible Hilton purchases made on your Hilton Honors American Express Business Card, with up to $60 in statement credits per quarter.
  • $195 annual fee.
  • See Rates and Fees

CitiBusiness / AAdvantage Platinum Select Mastercard

  • 65,000 American Airlines miles after $4,000 in purchases in first the 4 months. Limited-time offer. See link for details.
  • First checked bag free on domestic AA flights for you and up to 4 companions (Up to $80 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

Marriott Bonvoy Business® American Express® Card

  • 125,000 Marriott Bonvoy(R) Points after $8,000 in eligible purchases within the first 6 months. Terms apply. Limited-time offer ends 03/12/2025. See link for details.
  • New award night top-off option: Marriott now allows you to supplement your free night certificates with up to 15,000 points of your own. For example, the 50k Award can be used to book a hotel at 65,000 points level if you spend 15,000 points of your own. This opens up the number of potential hotels available in expensive areas.
  • Additional Free Night Award upon card anniversary (worth up to 35,000 Bonvoy points). Earn another additional Free Night Award after spending $60K in purchases on your Card in a calendar year.
  • Annual fee is $125.
  • See Rates and Fees

Ink Business Cash® Credit Card

  • Up to $750 bonus cash back total (75,000 Ultimate Rewards points). Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months. See link for details.
  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year.
  • No annual fee.
  • Subject to 5/24 rule.*

Hawaiian Airlines Business MasterCard

  • 50,000 Hawaiian miles after $4,000 in purchases in first 90 days. See link for details.
  • Receive a one-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

BofA Business Advantage Unlimited Cash Rewards card

  • $500 statement credit after $5,000 in purchases in the first 90 days. See link for details.
  • 1.5% cash back on all purchases, which can be increased to 2.62% cash back when combined with the Preferred Rewards program.
  • No annual fee.

US Bank Business Leverage Card

  • 75,000 bonus points after $7,500 in purchases (on the Account Owner’s Card only) in first the 120 days. 75,000 bonus points can be redeemed for $750 in cash back. See link for details.
  • Availability may be restricted to certain states.
  • $0 annual fee for the first year, then $95.

JetBlue Business Card

  • 60,000 TrueBlue points total. 50,000 points after $4,000 in purchases in first 90 days. Plus, earn 10,000 bonus points when a purchase is made on an employee card in the first 90 days. See link for details.
  • First checked bag free for the primary cardmember and up to 3 companions when tickets are purchased with your JetBlue Plus Card.
  • $99 annual fee.

Alaska Airlines Visa Business Card (Bank of America)

  • 70,000 Alaska miles + Companion Fare Voucher after $4,000 in purchase within 90 days. See link for details.
  • Companion fare voucher is “Buy one ticket, get one for $122” ($99 fare plus taxes and fees from just $23).
  • Free checked bag on Alaska flights for you and up to six other passengers on the same reservation (worth $70 roundtrip per person).
  • $70 annual fee for company, plus $25 per card.

Capital One Spark Cash Select Card

  • $500 cash bonus after $4,500 in purchases in the first 3 months. See link for details.
  • Unlimited 1.5% cash back spent on all purchases with no limit.
  • No annual fee.

Southwest® Rapid Rewards® Premier Business Credit Card

  • 60,000 Southwest points after $3,000 on purchases in the first 3 months. See link for details.
  • Southwest still gives everyone two free checked bags.
  • $99 annual fee.
  • Subject to 5/24 rule.*

* Note: Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards on your credit report within the past 2 years. This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

American Express(R) Business Gold Card: See Rates and Fees. The Business Platinum(R) Card from American Express: See Rates and Fees. The Hilton Honors American Express Business Card: See Rates and Fees. Marriott Bonvoy Business(TM) Card from American Express(R): See Rates and Fees. Delta SkyMiles(R) Gold Business American Express Card: See Rates and Fees

Categories: Finance

Top 10 Best Credit Card Bonus Offers – February 2025 (Updated)

Fri, 02/14/2025 - 01:31

Updated February 2025. That space in your wallet or purse is valuable, and you should be the one to get that value. By being smart and picky, you can find offers worth $500+ for a single card, all to encourage you to apply and try it out. This adds up to thousands of dollars in extra income (over $5,000 in 2023). These are the top 10 credit card offers that I would personally apply for right now (or have already). Notable recent changes:

  • Added Southwest Companion Pass, CitiAA 75k, Delta 80k, IHG 100k/170k, Air Canada 70k, BarcAA 70k, Alaska 75k
  • Removed United 60k, Hilton 100k+noAF, JetBlue 80k, British Airways 85k, CitiAA 75k, Sapphire 60k+$300, Amex Gold 60k+$100

This is a companion post to my Top 10 Best Business Card Offers. Small business bonuses are on average even higher than those on consumer cards.

Delta SkyMiles® Gold American Express Card

  • 80,000 Bonus Miles after $3,000 in purchases within the first 6 months. See link for details.
  • 80,000 Skymiles are worth at least $800 in Delta airfare with “Pay with Miles” option.
  • $200 Delta flight credit after $10,000 in purchases on your card in a calendar year.
  • First checked bag free on Delta flights ($70 value per roundtrip, per person).
  • $0 annual fee for the first year, then $150.
  • See Rates and Fees

Southwest Rapid Rewards® Plus Credit Card

  • Limited-time offer: Earn a Companion Pass(R) good through 2/28/26 plus 30,000 points after $4,000 on purchases in the first 3 months. See link for details.
  • Southwest still gives everyone two free checked bags.
  • Timing for Companion Pass. If you can sign up for this one and perhaps also the small business version, and time the points to post in 2025, you can qualify for a Companion Pass for 2025 and 2026.
  • $69 annual fee.
  • Subject to 5/24 rule.*

British Airways Visa Signature® Card

  • 75,000 Avios after $5,000 in purchases within first 3 months. See link for details and redemption tips.
  • 10% off British Airways flights starting in the US when you book through the website provided in your welcome materials.
  • Free Travel Together companion ticket when you spend $30,000 in a calendar year.
  • $95 annual fee.

Chase Sapphire Preferred® Card

  • 60,000 Ultimate Rewards points (worth $750 towards travel or transferrable to miles/points) after $4,000 in purchases within the first 3 months. See link for details.
  • $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase TravelSM, 3x on dining and 2x on all other travel purchases.
  • $95 annual fee.
  • Subject to 5/24 rule.*
  • Upgrade pick: Chase Sapphire Reserve® Card. Higher travel perks including airport lounge access, higher annual fee.

Aeroplan® Credit Card

  • Up to 70,000 bonus points. 60,000 bonus points after $3,000 on purchases in first 3 months. Plus, 10,000 bonus points after annual fee renewal payment posts and is paid in full. 70,000 points are redeemable for $875 against any travel purchased with Pay Yourself Back. See link for details.
  • Free first checked bags on Air Canada flights: one free checked bag for the primary cardmember and up to eight other travelers on the same itinerary.
  • Aeroplan 25K Elite Status benefits for the remainder of the first calendar year, plus the following calendar year.
  • Up to $120 Global Entry, TSA PreCheck® or NEXUS fee credit.
  • $95 annual fee.
  • Subject to 5/24 rule.

Citi AAdvantage Platinum Select Card

  • 75,000 American Airlines miles after $3,500 in purchases in first 4 months. See link for details.
  • First checked bag free on domestic AA flights ($80 value per roundtrip, per person).
  • $0 annual fee for the first year, then $99.

IHG One Rewards Premier Credit Card

  • 170,000 Bonus Points after $4,000 in purchases in the first 3 months. See link for details.
  • Free Night after each account anniversary year (valued up to 40,000 IHG points).
  • $99 annual fee.
  • Subject to 5/24 rule.
  • Don’t like annual fees? The no-annual fee Traveler version also has a competitive offer with no annual fee.

IHG One Rewards Traveler Credit Card

  • 100,000 IHG Rewards club points after $2,000 in purchases within the first 3 months. See link for details.
  • 4th Award Night Free (Book 3 nights in a row with points, 4th is free)
  • No annual fee.
  • Subject to 5/24 rule.*

The Platinum Card® from American Express

  • 80,000 Membership Rewards(R) points after $8,000 in purchases in the first 6 months.
  • Up to $200 Hotel Credits, up to $240 Streaming Credits, $200 Airline Fee Credits, $200 Uber Cash, $199 CLEAR Plus credit, $300 Equinox credit, up to $155 Walmart+ credit and more annually! Enrollment is required.
  • Up to $120 Global Entry or $85 TSA PreCheck fee credit.
  • Premium airport lounge access through the American Express Global Lounge Collection®.
  • $695 annual fee.
  • See Rates and Fees

Capital One Venture X Rewards Card

  • 75,000 miles (worth $750 towards travel, or transferrable to airline miles) after $4,000 in purchases within the first 3 months. See link for details.
  • $300 annual travel credit. Get up to $300 in statement credits when booking through Capital One Travel.
  • Additional 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.
  • Priority Pass + Capital One airport lounge access. Additional cardholders are free, and also get their own Priority Pass!
  • Up to a $120 credit for Global Entry or TSA PreCheck(R).
  • $395 annual fee.

Citi Strata Premier Card

  • 75,000 points (worth $750 in gift cards, or transferrable to miles/points) after $4,000 in purchases in the first 3 months. See link for details.
  • 3X points for every $1 spent on Hotel purchases, Air Travel, Restaurants, Supermarkets, Gas Stations, EV Charging.
  • Must not have gotten bonus from or closed a Citi Premier or Strata Premier card in the past 48 months.
  • $95 annual fee.

Capital One Venture Rewards Card

  • 75,000 miles (worth $750 to offset travel purchases, or transferrable to miles) after $4,000 in purchases within the first 3 months. See link for details.
  • 2 Miles per dollar on all purchases.
  • Up to a $120 credit for Global Entry or TSA PreCheck(R).
  • $95 annual fee.

Bank of America Premium Rewards Card

  • 60,000 points (worth $600) after $4,000 in purchases within the first 90 days. See link for details.
  • $100 annual Airline Incidental Statement Credit.
  • Up to $100 credit towards TSA PreCheck or Global Entry application fee.
  • $95 annual fee.

Wells Fargo Autograph Journey Card

  • 60,000 points (worth $600 towards travel) after $4,000 in purchases within the first 90 days. See link for details.
  • $50 annual statement credit with $50 minimum airline purchase.
  • $95 annual fee.

Alaska Airlines Visa Card (Bank of America)

  • 75,000 bonus miles + Companion Fare voucher after $3,000 in purchases within first 90 days. See link for details.
  • Companion fare voucher is “Buy one ticket, get one from $23” ($0 fare plus taxes and fees from just $23).
  • Free first checked bag on Alaska flights for you and up to six other passengers on the same reservation (worth $70 roundtrip per person).
  • $95 annual fee.

Hawaiian Airlines MasterCard

  • 70,000 Hawaiian miles after any purchase (of any amount) within the first 90 days. Try various 6-digit codes, like “000111”. The normal offer has a higher spending requirement. See link for details.
  • Two free checked bags for primary cardmember when you use your card to purchase tickets directly from Hawaiian Airlines.
  • One-time 50% off companion discount for roundtrip coach travel between Hawaii and The Mainland on Hawaiian Airlines.
  • $99 annual fee.

American Express® Gold Card

  • 60,000 Membership Rewards(R) points after $6,000 in purchases in the first 6 months. See link for details.
  • $84 Dunkin’ Credit. Up to $7 in monthly statement credits after you enroll and pay with the American Express(R) Gold Card at US Dunkin’ locations. Enrollment is required.
  • $100 Resy Credit. Get up to $100 in statement credits each calendar year after you pay with the American Express(R) Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. Broken down into up to $50 in statement credits semi-annually. Enrollment is required.
  • $120 in Uber Cash annually (good towards Uber Eats or Uber rides in the US). Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
  • Up to $120 in annual dining credit at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment is required.
  • 4X points at restaurants on up to $50,000 per calendar year.
  • 4X points at US supermarkets on up to $25,000 per calendar year.
  • $325 annual fee.
  • See Rates and Fees

Marriott Bonvoy Brilliant® American Express® Card

  • 95,000 Marriott Bonvoy(R) points after $6,000 in purchases in the first 6 months. See link for details.
  • $300 in Annual Dining Credits, valid at restaurants worldwide.
  • Priority Pass Select airport lounge membership.
  • Automatic Marriott Bonvoy Platinum Elite status.
  • Free Night Award upon card anniversary (worth up to 85,000 Bonvoy points).
  • $650 annual fee.
  • See Rates and Fees

Barclays AAdvantage Aviator Red Mastercard

  • 60,000 American Airlines miles after any single purchase and paying the $99 annual fee in full, both within the first 90 days. See link for details.
  • First checked bag free on domestic AA flights ($80 value per roundtrip, per person).
  • $99 annual fee.

JetBlue Plus Card

  • 50,000 bonus TrueBlue points after $1,000 on purchases and paying the $99 annual fee in full, both within the first 90 days. See link for details.
  • First checked bag free for the primary cardmember and up to 3 companions when tickets are purchased with your JetBlue Plus Card.
  • $99 annual fee.

Hilton Honors American Express Card

  • 80,000 Hilton Honors Bonus Points after $2,000 in purchases in the first 6 months. See link for details.
  • No annual fee.
  • See Rates and Fees

UnitedSM Explorer Card

  • 50,000 miles after $3,000 in purchases within 3 months. See link for details.
  • Free first checked bag for both you and a companion (a savings of up to $160 per roundtrip) when you use your Card to purchase your United ticket.
  • Up to $120 Global Entry, TSA PreCheck® or NEXUS fee credit.
  • $0 intro annual fee for the first year, then $95.
  • Subject to 5/24 rule.

If you pay off your balances every month, then you can join me and many others in funding a huge chunk of your annual travel budget with cash credits, points, and miles. I mostly use my rewards points on family trips – domestic economy flights, mid-range hotels, and cheap car rentals. If you have credit card debt, you should focus on paying that off first as the interest charges could offset most of the perks.

* 5/24 Rule? Certain Chase cards have a “5/24 rule” which is an unofficial rule that they will automatically deny approval on new credit cards if you have 5 or more new credit cards from any issuer on your credit report within the past 24 months (2 years). This rule applies on a per-person basis, so if you are new, you might want to start with those Chase cards.

Delta SkyMiles(R) Gold American Express Card: See Rates and Fees

American Express(R) Gold Card: See Rates and Fees

The Platinum Card(R) from American Express: See Rates and Fees

Marriott Bonvoy Brilliant(R) American Express(R) Card: See Rates and Fees

Hilton Honors Card from American Express: See Rates and Fees

Categories: Finance

Helium Mobile Invite Codes for Free Cellular Plan (100 min, 300 txt, 3GB data)

Thu, 02/13/2025 - 01:40

Helium Mobile is offering a “free” cellular plan that includes 100 minutes talk, 300 texts, and 3 GB of data per month (no hotspot). You have to upload a government-issued ID (name, address, date of birth, ID number), but you don’t need to provide a credit card. You also have to always allow Location Sharing so they can always track your exact location. Helium Mobile is a T-Mobile MVNO, so you will need a compatible unlocked GSM phone.

The free plan is currently waitlist-only unless you have an invite code, but one of the following invite codes should work to provide you immediate access. Click on the “Got an invite code?” link on the front page. Both iOS and Android apps are available.

  • HELIUMCEO
  • HELIUMFREE
  • BREAKFREE

They offer both eSIM and physical SIMs, but as of now the physical SIMs are out of stock and the expected wait time is at least a few weeks.

This is not the first cellular carrier to promote a “free” plan, nor the first to try and build a network of people sharing their WiFi for theoretically low-cost data (“Helium Hotspots”), and you shouldn’t be surprised that the reason beyond this new one is “something something crypto”. They never seem to last very long, and in the past have had hidden fees (FreedomPop) and sometimes required too much effort (RingPlus).

I probably wouldn’t bother using this as your primary number due to the hassle of porting in and out again possibly soon, but having an extra phone number can be useful for a variety of reasons. Some special offers are effectively limited to one per phone number, and sometimes you may not want to give out your primary phone number. You might have an old phone you want to use, or you could just add an eSIM number to your existing phone.

I’m concerned that the always-on location sharing would be a drain on battery life (in addition to your privacy). They say they use Fitness data which is less draining, but I’m still dubious. I would probably learn towards using an old phone.

Categories: Finance

Callan Periodic Table of Investment Returns 2024 Year-End Update

Wed, 02/12/2025 - 02:00

Callan Associates updates a “periodic table” annually with the relative performance of 9 major asset classes over the last 20 years. Above is the most recent snapshot of 2005-2024, which you can find on their website Callan.com. The best performing asset class is listed at the top, and it sorts downward until you have the worst performing asset. I find it easiest to focus on a specific Asset Class (Color) and then visually noting how its relative performance bounces around.

The Callan Periodic Table of Investment Returns conveys the strong case for diversification across asset classes (stocks vs. bonds), capitalizations (large vs. small), and equity markets (U.S. vs. global ex-U.S.). The Table highlights the uncertainty inherent in all capital markets. Rankings change every year. Also noteworthy is the difference between absolute and relative performance, as returns for the top-performing asset class span a wide range over the past 20 years.

Beyond showing the value of diversification, you can still see how performance chasing is hard to avoid. Look at the orange and maroon squares from 2005 to 2010; Emerging Markets Equity and REITs had some crazy-awesome years in the past, and everyone wanted to own them back then. These days, you hardly hear anything. The same could easily end up being true for what has been doing well in the last 5 years – US Large Cap Equity. Or not. Everything is always so much clearer in hindsight!

Categories: Finance

Best Interest Rates Survey: Savings Accounts, Treasuries, CDs, ETFs – February 2025

Mon, 02/10/2025 - 01:34

Here’s my monthly survey of the best interest rates on cash as of February, roughly sorted from shortest to longest maturities. Banks love taking advantage of our idle cash, and you can often earning more money while keeping the same level of safety by moving to another FDIC-insured bank or NCUA-insured credit union. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you could earn from switching. Rates listed are available to everyone nationwide. Rates checked as of 2/9/2024.

TL;DR: Liquid, short-term rates slightly lower overall. Longer-term rates actually went up a little; there are 4%+ APY 5-year CDs. Compare against Treasury bills and bonds at every maturity, taking into account state tax exemption. I no longer recommend fintech companies due to the possibility of loss due to poor recordkeeping and lack of government regulation. (Ex. Evergreen Wealth at 5% APY is a fintech.)

High-yield savings accounts
Since the huge megabanks still pay essentially no interest, everyone should at least have a separate, no-fee online savings account to piggy-back onto your existing checking account. The interest rates on savings accounts can drop at any time, so I list the top rates as well as competitive rates from banks with a history of competitive rates and solid user experience. Some banks will bait you with a temporary top rate and then lower the rates in the hopes that you are too lazy to leave.

  • The top saving rates at the moment top out at about what Quontic Bank offers at 4.75% APY (No min). Roger.bank is at 5.00% APY (no min), but does require an additional checking account. I have no direct experience with either, but those are top rates. CIT Platinum Savings is now at 4.30% APY with $5,000+ balance.
  • SoFi Bank is at 3.80% APY + up to $325 new account bonus with direct deposit. You must maintain a direct deposit of any amount (even $1) each month for the higher APY. SoFi has historically competitive rates and full banking features. See details at $25 + $300 SoFi Money new account and deposit bonus.
  • Here is a limited survey of high-yield savings accounts. They aren’t the top rates, but a group that have historically kept it relatively competitive such that I like to track their history.

Short-term guaranteed rates (1 year and under)
A common question is what to do with a big pile of cash that you’re waiting to deploy shortly (plan to buy a house soon, just sold your house, just sold your business, legal settlement, inheritance). My usual advice is to keep things simple and take your time. If not a savings account, then put it in a flexible short-term CD under the FDIC limits until you have a plan.

  • No Penalty CDs offer a fixed interest rate that can never go down, but you can still take out your money (once) without any fees if you want to use it elsewhere. Marcus has a 7mo/13mo No Penalty CD at 4.15% APY with a $500 minimum deposit. Farmer’s Insurance FCU has 9-month No Penalty CD at 4.25% APY with a $1,000 minimum deposit. Consider opening multiple CDs in smaller increments for more flexibility.
  • Abound Credit Union has a 8-month certificate special at 4.75% APY ($500 min). Anyone can join this credit union nationwide with $10 fee. Early withdrawal penalty is 90 days of interest.

Money market mutual funds
Many brokerage firms that pay out very little interest on their default cash sweep funds (and keep the difference for themselves). Note: Money market mutual funds are highly-regulated, but ultimately not FDIC-insured, so I would still stick with highly reputable firms.

  • Vanguard Federal Money Market Fund (VMFXX) is the default sweep option for Vanguard brokerage accounts, which has an SEC yield of 4.27% (changes daily, but also works out to a compound yield of 4.35%, which is better for comparing against APY). Odds are this is much higher than your own broker’s default cash sweep interest rate.
  • Vanguard Treasury Money Market Fund (VUSXX) is an alternative money market fund which you must manually purchase, but the interest will be mostly (100% for 2024 tax year) exempt from state and local income taxes because it comes from qualifying US government obligations. Current SEC yield of 4.26% (compound yield of 4.35%).

Treasury Bills and Ultra-short Treasury ETFs
Another option is to buy individual Treasury bills which come in a variety of maturities from 4-weeks to 52-weeks and are fully backed by the US government. You can also invest in ETFs that hold a rotating basket of short-term Treasury Bills for you, while charging a small management fee for doing so. T-bill interest is exempt from state and local income taxes, which can make a significant difference in your effective yield.

  • You can build your own T-Bill ladder at TreasuryDirect.gov or via a brokerage account with a bond desk like Vanguard and Fidelity. Here are the current Treasury Bill rates. As of 2/7/25, a new 4-week T-Bill had the equivalent of 4.32% annualized interest and a 52-week T-Bill had the equivalent of 4.24% annualized interest.
  • The iShares 0-3 Month Treasury Bond ETF (SGOV) has a 4.27% SEC yield (0.09% expense ratio) and effective duration of 0.09 years. SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) has a 4.18% SEC yield (0.136% expense ratio) and effective duration of 0.15 years.

US Savings Bonds
Series I Savings Bonds offer rates that are linked to inflation and backed by the US government. You must hold them for at least a year. If you redeem them within 5 years there is a penalty of the last 3 months of interest. The annual purchase limit for electronic I bonds is $10,000 per Social Security Number, available online at TreasuryDirect.gov.

  • “I Bonds” bought between November 2024 and April 2025 will earn a 3.11% rate for the first six months. The rate of the subsequent 6-month period will be based on inflation again. More on Savings Bonds here.
  • In mid-April 2025, the CPI will be announced and you will have a short period where you will have a very close estimate of the rate for the next 12 months. I will have another post up at that time.

Rewards checking accounts
These unique checking accounts pay above-average interest rates, but with unique risks. You have to jump through certain hoops which usually involve 10+ debit card purchases each cycle, a certain number of ACH/direct deposits, and/or a certain number of logins per month. If you make a mistake (or they judge that you did) you risk earning zero interest for that month. Some folks don’t mind the extra work and attention required, while others would rather not bother. Rates can also drop suddenly, leaving a “bait-and-switch” feeling.

  • OnPath Federal Credit Union (my review) pays 7.00% APY on up to $10,000 if you make 15 debit card purchases, opt into online statements, and login to online or mobile banking once per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization. You can also get a $100 Visa Reward card when you open a new account and make qualifying transactions.
  • Genisys Credit Union pays 6.75% APY on up to $7,500 if you make 10 debit card purchases of $5+ each per statement cycle, and opt into online statements. Anyone can join this credit union via $5 membership fee to join partner organization.
  • La Capitol Federal Credit Union pays 6.25% APY on up to $10,000 if you make 15 debit card purchases of at least $5 each per statement cycle. Anyone can join this credit union via partner organization, Louisiana Association for Personal Financial Achievement ($20).
  • Falcon National Bank pays 6.00% APY on up to $25,000 if you make at least 15 debit card purchases, 1 direct deposit OR ACH credit transaction, and enroll in online statements.
  • Credit Union of New Jersey pays 6.00% APY on up to $25,000 if you make 12 debit card purchases, opt into online statements, and make at least 1 direct deposit, online bill payment, or automatic payment (ACH) per statement cycle. Anyone can join this credit union via $5 membership fee to join partner organization.
  • Andrews Federal Credit Union pays 6.00% APY on up to $25,000 if you make 15 debit card purchases, opt into online statements, and make at least 1 direct deposit or ACH transaction per statement cycle. Anyone can join this credit union via partner organization.
  • Find a locally-restricted rewards checking account at DepositAccounts.

Certificates of deposit (greater than 1 year)
CDs offer higher rates, but come with an early withdrawal penalty. By finding a bank CD with a reasonable early withdrawal penalty, you can enjoy higher rates but maintain access in a true emergency. Alternatively, consider building a CD ladder of different maturity lengths (ex. 1/2/3/4/5-years) such that you have access to part of the ladder each year, but your blended interest rate is higher than a savings account. When one CD matures, use that money to buy another 5-year CD to keep the ladder going. Some CDs also offer “add-ons” where you can deposit more funds if rates drop.

  • KS State Bank has a 5-year certificate at 4.30% APY ($500 minimum), 4-year at 4.30% APY, 3-year at 4.30% APY, 2-year at 4.25% APY, and 1-year at 4.30% APY. $500 minimum. The early withdrawal penalty (EWP) for the 5-year is a huge 540 days of interest.
  • Mountain America Credit Union (MACU) has a 5-year certificate at 4.35% APY ($500 minimum), 4-year at 4.30% APY, 3-year at 4.25% APY, 2-year at 4.05% APY, and 1-year at 4.35% APY. Early withdrawal penalty for the 4-year and 5-year is 365 days of interest. Anyone can join this credit union via partner organization American Consumer Council for a one-time $5 fee (or try promo code “consumer”).
  • You can buy certificates of deposit via the bond desks of Vanguard and Fidelity. You may need an account to see the rates. These “brokered CDs” offer FDIC insurance and easy laddering, but they don’t come with predictable early withdrawal penalties. Right now, I see a 5-year non-callable CD at 4.25% APY (callable: no, call protection: yes). Be warned that both Vanguard and Fidelity will list higher rates from callable CDs, which importantly means they can call back your CD if rates drop later. (Issuers have indeed started calling some of their old 5%+ CDs during 2024.)

Longer-term Instruments
I’d use these with caution due to increased interest rate risk (tbh, I don’t use them at all), but I still track them to see the rest of the current yield curve.

  • Willing to lock up your money for 10 years? You can buy long-term certificates of deposit via the bond desks of Vanguard and Fidelity. These “brokered CDs” offer FDIC insurance, but they don’t come with predictable early withdrawal penalties. You might find something that pays more than your other brokerage cash and Treasury options. Right now, I see a 10-year CDs at [n/a] (non-callable) vs. 4.48% for a 10-year Treasury. Watch out for higher rates from callable CDs where they can call your CD back if interest rates drop.

All rates were checked as of 2/9/25.

Photo by Giorgio Trovato on Unsplash

Categories: Finance

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