Off Topic 2014

[Chef Matt]

Re: Off Topic 2014

I just throw all my **** in the same bag, I don't care as long as nothing gets smushed.

That's exactly how I roll.
%teamgetitdone

[SuperBowlNachos]

Re: Off Topic 2014

Does BoA charge you for checking?

They would, but I meet the requirements for monthly deposits and all of that stuff.

That 1% is an annual interest rate. Here's a calculator.

http://www.nationwide.com/savings-calculator.jsp

This is what I can't get a straight answer on apparently. My bro-in-law is the guy at the bank that opens accounts, deals with loans, etc. He mentioned Capital One is offering 1.25% interest for the first 6 months. So is that not a monthly interest rate? Discovers' is 0.9% all the time.

My logic was that if I have $100,000 in my savings account and I get 1% interest than I would get $1000 in interest per month. Is that not right? It would be $1000 a year? (just throwing numbers out there)

[slickdtc]

Off Topic 2014

The battle rages with Comcast. I'm actually getting somewhere through a rep via Twitter, though. I'm as surprised as you! He's been insanely more helpful then any of those CSR ****heads on the phone. Hell, I can't get through a conversation with Comcast via phone without being disconnected at some point. And it's not my cellular service going out either

[JazzMan]

Re: Off Topic 2014

This new tapatalk update is confusing as hell.

[ImTellinTim]

Re: Off Topic 2014

They would, but I meet the requirements for monthly deposits and all of that stuff.


This is what I can't get a straight answer on apparently. My bro-in-law is the guy at the bank that opens accounts, deals with loans, etc. He mentioned Capital One is offering 1.25% interest for the first 6 months. So is that not a monthly interest rate? Discovers' is 0.9% all the time.

My logic was that if I have $100,000 in my savings account and I get 1% interest than I would get $1000 in interest per month. Is that not right? It would be $1000 a year? (just throwing numbers out there)

I'll try to simplify this as much as I can. For your last question, you'd get $1,000 over the year. But that fluctuates depending on how often it's compounded.

For how you can have a rate for 6 months... Let's say your bank compounds interest daily. You would get 1/365th of your annual interest every day. If you have a 6-month rate, then it switches, they would just plug that new rate into the formula after 6 months. So let's say you have 2% for 6 months, then it goes down to 1%. You'd get about $1000+ on $100,000 over the first 6 months. Then you'd get $500+ over the next 6 months of the year (for an approximate total of $1500+ in interest over the year). The reason I put + is because your principal is increasing as they give you interest income.

Interest rates are always expressed in annual terms. Hope that makes sense.

[SuperBowlNachos]

Re: Off Topic 2014

I'll try to simplify this as much as I can. For your last question, you'd get $1,000 over the year. But that fluctuates depending on how often it's compounded.

For how you can have a rate for 6 months... Let's say your bank compounds interest daily. You would get 1/365th of your annual interest every day. If you have a 6-month rate, then it switches, they would just plug that new rate into the formula after 6 months. So let's say you have 2% for 6 months, then it goes down to 1%. You'd get about $1000+ on $100,000 over the first 6 months. Then you'd get $500+ over the next 6 months of the year (for an approximate total of $1500+ in interest over the year). The reason I put + is because your principal is increasing as they give you interest income.

Interest rates are always expressed in annual terms. Hope that makes sense.

Ah ok. Well that's not nearly as exciting. Still worth dumping BoA because I would be going from double digit cents to triple digit dollars.

[Watson]

Re: Off Topic 2014

I needed a 3 point curve to get an A in Psychology. He curved it by 6.



<iframe width="420" height="315" src="//www.youtube.com/embed/iLazpIG208w" frameborder="0" allowfullscreen></iframe>

[Bmore Irish]

Re: Off Topic 2014

This new tapatalk update is confusing as hell.

It's garbage.

[kehlis]

Re: Off Topic 2014

Ah ok. Well that's not nearly as exciting. Still worth dumping BoA because I would be going from double digit cents to triple digit dollars.

You'll have to have an incredibly high balance to still get anything over double digit cents.

[SuperBowlNachos]

Re: Off Topic 2014

You'll have to have an incredibly high balance to still get anything over double digit cents.

What is incredibly high?
When I use this - https://www.discover.com/online-bank...est-calculator
If I put in $15,000. Add 0 per month, and save for a year, I get $135 (annually!).

Am I still just confusing myself?

[kehlis]

Re: Off Topic 2014

What is incredibly high?
When I use this - https://www.discover.com/online-bank...est-calculator
If I put in $15,000. Add 0 per month, and save for a year, I get $135 (annually!).

Am I still just confusing myself?

No you're not confusing yourself, it's still free money just didn't want you to get too excited as that's still only about $11 a month.

[ImTellinTim]

Re: Off Topic 2014

If you just put that money in there and let it sit, yeah, that's what you'll get.

But just make sure you understand everything about the account (how they can change the rate, fees, etc.). And look around for reviews about customer service and timing on transfers.

[BurghFan]

Re: Off Topic 2014

I just throw all my **** in the same bag, I don't care as long as nothing gets smushed.

Yeah, I'm the same way. I hate it when I'm at the grocery store and the person is double bagging everything then hands me a bag containing just my sandwich buns or just a 20 oz. bottle of Dr. Pepper. I'm like "Seriously, you're gonna waste a whole bag just for 1 item" then proceed to take the single item out the bag and put it ina different bag that has other stuff in it and give him/her back the bag(s) that just had the 1 item in it.

[Gotmadskillzson]

Re: Off Topic 2014

You will be amazed how many customers who would throw a hissy fit if their 1 item didn't get put in a bag. I've seen it happen before.

[Bruins]

Re: Off Topic 2014

Lame.

I would check with a local credit union. Most of the time they offer free checking.

I don't know, it's a pretty easy mark to hit each month. I'm really happy banking with BofA.