Best Bank Rates and Deals

Gift cards have become an increasingly popular gift choice among all demographics and all special occasions as they are quick to buy and are often the best substitute for the perfect gift.

However, gift cards are far from perfect and shoppers need to be aware of the risks associated with them.

Gift card sales are in the billions of dollars range and are only set to grow further. If you want to buy a gift card for someone, it is important to take some steps to ensure that your money does not end up down the drain:

• Make sure the gift card matches the interest of the gift recipient. Seriously, do you think Grandma would appreciate $25 towards her next meal at “Hooters?”
• Check the finances of the company issuing the gift card.

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You’ve got to close on your home before Dec. 1 to qualify for a tax credit that could reduce your federal taxes by as much as $8,000 from your federal taxes.

The first-time homebuyer’s tax credit has been one of the most popular parts of the economic stimulus bill Congress passed last winter.

But if you don’t have a sales contract in hand, and a mortgage application in the works, by mid-October you’ll be racing to meet that deadline.

READ THE ENTIRE POST.

Texas residents can take advantage of a 5.01% APY on the Kasasa Cash rewards checking account from Founders Bank. Here are the requirements that must be met to qualify for this great rate:

• 10 debit card purchases
• 1 direct deposit or automatic payment
• Participate in online banking
• Receive e-statements

If you meet the requirements each month, you will receive the following perks:

• 5.01% APY on balances up to $10,000
• 2.25% APY on balances over $10,000
• 0.05% APY base rate if qualifications aren’t met
• Refunds on all ATM fees nationwide

A few benefits of the account regardless of meeting qualifications include no monthly service charge, no minimum balance requirement,and free online bill pay.

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Consider this case: a man miscalculates how much money is in his checking account, uses it seven times in a day with no single charge than $12 and ends up charged with $234 in overdraft fees. Welcome to the dangers of debit cards.

The plight of Peter Means, 59, of Colorado and how he came to be facing all these fees — which in one instance cost him than $38 for a cup of coffee at Starbucks ($4.14 for the coffee, $34 for the overdraft) — was chronicled in the New York Times. Means’ situation is just an example of how big a profit center these fees have become for banks, how important they are for banks and how consumer outrage over them have pushed lawmakers to try to rein them in.

In concept, there’s a lot of good about using debit cards — you don’t have to carry cash, you’re spending money you already have instead of borrowing and it is just about universally accepted.

But with this convenience comes risks that aren’t always so obvious. Full article…

South Florida Federal Credit Union is offering a competitive 2.52% APY on its money market account. Here are some additional details of this account:

• Minimum balance of $2,500 required to open the account
• Minimum of $2,500 must be maintained to avoid $6 monthly fee.
• Limited check writing is available.

In order to open amoney market account with South Florida Federal Credit Union, you must be a member. Membership is primarily based on Select Employee Groups in the South Florida area, including specific churches and schools. To learn if you are eligible to become a member, please visit the credit union’s Who Can Join page.

>>Money Market Rate Deals

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Bank rates may be out of date. Please check bank websites for current rates.

1st Constitution Direct has a special internet only savings promo on their high yield online savings account. With this internet only promotion, you can get 2.05% APY locked in for the first 3 months, after which it switches to a variable rate. The current variable savings rate is 1.95% APY.

In order to qualify for this rate, you need to maintain a balance of $10,000. If your balance falls below $10,000 your rate will drop to 1.60%. Minimum initial deposit of at least $100 is required. Here are some of the details of this account:

• Account must be opened with an initial deposit from your non 1st Constitution checking account
• 1st Constitution Direct will send two small deposits and one small withdrawal to your personal checking account that must be verified.

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