Hello everyone! What is your take on AMEX? Is it for you? Thanks for watching and don't forget to share it with someone you know, Like the video and Subscribe if you enjoy the content :)
So if a person puts $10,000 in a 5% account. At the end of the year he gets, $500. Now you have to pay taxes on it, maybe 20% if not more, You get $400. That's only $33 a month. The price of having one pizza delivered a month, that's it. I remember 10% and 11%. And think, this is less than 5%, and I got tired of telling me I couldn't take my money out more than 5 times, regardless of your balance. Just think about it. All you have to do is not order one pizza that month, and that's all the bank is paying you. Not for my $10,000. Use your credit card for $10,000 and see how much you get charge each month. There was a time when banks paid more money for your savings, than they charged you to use their credit cards. Is putting $10,000 in any account, equal a pizza a month? Anything less than 20% today, is a joke. And how many of you order 4 pizzas a month? Well that's less than what you'll get with $40,000 in there, at less than 5%.
It's not a bad setup, though like with the 1% Checking..you can only set up 4 financial institutions to transfer between. With the ability to qualify beforehand for loans and cards, it's very promising (plus may not need the 3-6 month wait as with Credit Unions).
Hello everyone! What is your take on AMEX? Is it for you? Thanks for watching and don't forget to share it with someone you know, Like the video and Subscribe if you enjoy the content :)
So if a person puts $10,000 in a 5% account. At the end of the year he gets, $500. Now you have to pay taxes on it, maybe 20% if not more, You get $400. That's only $33 a month. The price of having one pizza delivered a month, that's it. I remember 10% and 11%. And think, this is less than 5%, and I got tired of telling me I couldn't take my money out more than 5 times, regardless of your balance. Just think about it. All you have to do is not order one pizza that month, and that's all the bank is paying you. Not for my $10,000. Use your credit card for $10,000 and see how much you get charge each month. There was a time when banks paid more money for your savings, than they charged you to use their credit cards. Is putting $10,000 in any account, equal a pizza a month? Anything less than 20% today, is a joke. And how many of you order 4 pizzas a month? Well that's less than what you'll get with $40,000 in there, at less than 5%.
If it's not for you, it's not for you.
Is there a maximum amount of money that can be withdrawn from a HYSA with amex in one transfer?
It's not a bad setup, though like with the 1% Checking..you can only set up 4 financial institutions to transfer between. With the ability to qualify beforehand for loans and cards, it's very promising (plus may not need the 3-6 month wait as with Credit Unions).
Love the insight, thanks a lot!
Would you recommend it to new clients?
@@alexisidro Anytime.
@@alexisidro I'd probably recommend a couple of Credit Unions 1st, as a secondary/tertiary bank for Prime clients..Yes I would.