PSA: Don't swipe recklessly for others

[Dan]

get 2.5% with all american bank

https://allamerica.bank/personal/banking/checking/mega-money-market-checking

https://redneck.bank/

$50K max on these accounts and one account per person.

[ExGingi]

$50K max on these accounts and one account per person.

Also, be careful, with the MM accounts

**We include 6 free withdrawals per month. There is a $5 fee for each withdrawal after 6 per monthly statement cycle.

[ExGingi]

Can get 2.5% (no CD required) with all american bank

https://allamerica.bank/personal/banking/checking/mega-money-market-checking

or with red neck bank (if you cool with redneckery.... )

https://redneck.bank/

Redneck Bank is the Internet Banking Division of All America Bank®

[halperng]

On this topic I have a friend who swiped his way into credit card debt of approx 30k. At this point all his cards are maxed out. He can afford to pay the minimum payments but that would take years to actually pay off. Is it worthwhile for him to just stop paying and then settle with the cc companies?

it would be a many years long process with lots of phone calls from creditors and collectors, in the ends they add on interested and fees etc.. so when they "settle" it's really as much as a discount as you would think. As well in the beginning the settlement offers are not very good, only many years later do they get better. however still better than paying 26% interest

[pointer]

$50K max on these accounts and one account per person.

Didn't realize that...
https://apps.westernbanks.com/
2.5%, 3mm max, no minimum

[pointer]

Also, be careful, with the MM accounts

That's every savings account, no?

[ExGingi]

it would be a many years long process with lots of phone calls from creditors and collectors, in the ends they add on interested and fees etc.. so when they "settle" it's really as much as a discount as you would think. As well in the beginning the settlement offers are not very good, only many years later do they get better. however still better than paying 26% interest

If playing things right one can expect to settle for 30% or less, depending on circumstances, sizes of accounts, which banks, etc.

[knowitall]

Can we change the title of this thread to “best high yield savings accounts”

[12HRS]

That's every savings account, no?

Correct. Unsure of @ExGingi's point

[ExGingi]

Correct. Unsure of @ExGingi's point

The headline title when clicking on the link is "Mega Money Market® Checking" and if a checkbook is issued, one might mistake it for a checking account without said limitation.

[12HRS]

The headline title when clicking on the link is "Mega Money Market® Checking" and if a checkbook is issued, one might mistake it for a checking account without said limitation.

I hear that. huge assumption on checkbook being issued though

[yitzgar]

If playing things right one can expect to settle for 30% or less, depending on circumstances, sizes of accounts, which banks, etc.

Income tax on unpaid amount, so better to keep total owed as low as possible

[ExGingi]

Income tax on unpaid amount, so better to keep total owed as low as possible

Except if insolvency exception applies.

[zale]

On this topic I have a friend who swiped his way into credit card debt of approx 30k. At this point all his cards are maxed out. He can afford to pay the minimum payments but that would take years to actually pay off. Is it worthwhile for him to just stop paying and then settle with the cc companies?

30K is a payable number. I wouldn't advise this unless he can work out an agreement with the lenders to show "paid" on his report and not "settled".

[Denverite]

https://forums.dansdeals.com/index.php?topic=102731.0;topicseen

Maybe this guy was just running his own business and not swiping since he seems to be genuinely confused as to why he was shut down. Collateral damage then from all these schemes?