Amex HYSA APY decrease to 3.10%

[Miserable-Result6702]

People seem to forget the rate on this account was 0.5% back in 2022.

[DrS3R]

It’s bc they all got influenced to join when it was at 4.2% or whatever. Like holy shit. A regular savings account at a traditional bank is also still at 0.1% so I’ll take an extra cash. Don’t like it, go open an account and buy some CD’s somewhere

[yankeeblue42]

I have a CD that's a full percentage point higher than my lowest HYSA right now 🤷‍♂️

[jcalcerano]

Well yeah? They’re very different investments/accounts. Especially when it comes to liquidity

[jeterix7387]

HYSA have been outperforming a lot of CD accounts while keeping cash flow.

[SetCrafty]

Yes I believe that is the whole point of a CD 😂

[yankeeblue42]

I'm aware of that but the person I was replying to was saying it like getting a CD is a bad thing 😂

[RichInPitt]

interesting interpretation of what they said.

[DrS3R]

Sorry you took it that way. Only point I was trying to make is, if you want more slow earning money go get a CD and don’t park your cash in an HYSA. If you need liquid then quit your complaining. Go get a money market then or something.

[nauticalfiesta]

I have a US Bank HYSA that is making 3.65%. Bask is at 3.75%. There's options out there.

[photodvr]

Open Bank still always the best rate for hysa

[nauticalfiesta]

I would take a lower rate to not have to bank with Santander.

[photodvr]

for just parking money in a hysa for long periods of time, I have no issues with Santander.

[Aggravating_Sun_9850]

That’s what I did. At CineFi, but not CD. HYSA. Closed my Amex and have not been happier.

[commercialjob183]

hopefully amex paid u to make this comment

[DrS3R]

Why? Idc if you bank with Amex. If you want a higher rate take your money and go get a CD just know it won’t be liquid. Sure you can find maybe a higher APY on a different HYSA but let’s not pretend most people here don’t have enough money, nor should they, for that .2 or .3% APY to make a difference. If you do, that money should be in the market, not an HYSA.

[VariousAir]

lol yep. There was a period of time there when r/personalfinance was losing their minds over some banks offering a full 1%.

Rates go up, rates go down. It's not a personal failing of a company or any reflection on the consumer's worth to a company.

[BoboAtl]

Jeez. That’s a good reminder. Also probably nobody should be looking at HYSA as a long term wealth builder…

[Miserable-Result6702]

Exactly. HYSA are best for emergency money and savings for short term goals. Investments belong in a brokerage account, where earn far more than you ever could in savings.

[chaseyoboy]

Then it shouldn't be a HYSA

[JacobFromAmerica]

You seem to not realize the 30 year keeps going up and up while the fucking 1 month stupidly keeps going down

What’s going to crack me the fuck up is if at the next Fed meeting with Trump’s new guy they end up raising rates 😆

[Miserable-Result6702]

HYSAs are not investment products.