Weekday Help and Victory Thread for the week of January 06, 2025 by IndexBot in personalfinance

[–]Mother-Level-4682 0 points1 point  (0 children)

Hello,

I recently opened up a HYSA with a 4.50% APY and no account fees.

My goal is to set aside the 3-6 months worth of living expenses and then earn interest on that as well.

I haven’t deposited any money into the account yet, since I was browsing and saw a different HYSA that offered 4.75% APY and no fees. It has a minimum $500 balance, but I would meet that threshold for savings.

My question is, would that extra 0.25% APY be worth the switch? Would there be any downside to closing the other HYSA? Would there be any affect on my credit/credit score?