Here is a cautionary tale from our friend at Debt to Dreams. Our friend was apparently playing the credit card arbitrage game, which is where you take a no/low fee balance transfer at 0% on your credit card and put the money in an insured savings account to earn interest. It is a great game [...]
As most everyone is aware now, the Federal Reserve this week dropped the Federal Funds rate by 75 basis points (0.75%). This is great for borrowers, but not so great for savers. Several online banks have already dropped their high yield online savings accounts drastically in response to the cut. This is on top of [...]