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Chartway Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Chartway Federal Credit Union’s checking account options

LifePlus Checking

These low rates won’t help overcome high minimum balance requirements and fees.
APY Minimum Balance to Earn APY
0.10%$1,500
0.15%$10,000
0.20%$50,000
0.30%$100,000
  • Minimum opening deposit: $15
  • Monthly account maintenance fee: $6, though this fee can be waived with regular direct deposits, 10 monthly debit card purchases or $500 average monthly balance.
  • ATM fee: $1 at out-of-network ATMs
  • ATM fee refund: Available upon written request.
  • Overdraft fee: $6 if you sign up for overdraft protection; $30 if you do not.

LifePlus Checking comes with low dividend rates on large minimum balances for a checking account. If you’re going to stash away tens of thousands of dollars, a checking account may not be the best place to put it to begin with, especially when APY offerings are so low. Instead, you may want to turn to a savings or money market account — and you might even want to look at a certificate, depending on when you need to access the money.

This account does come with a $6 monthly maintenance fee, though this fee can be waived in one of three ways. The first option is to set up regular direct deposit with at least one deposit per month. An alternative is maintaining an average daily balance of $500, and your final option is to make at least 10 purchases with your debit card each month.

You will automatically be granted overdraft privilege, which will charge you $30 for each overdraft; if your account is only overdrawn by $10 or less, there will be no fee. You can also choose to request overdraft protection. Under this program, Chartway Federal Credit Union will transfer money from another one of your accounts or a line of credit in order to cover the difference between your withdrawal and your actual balance. There is a $6 fee every time the financial institution makes a transfer like this for you, though.

How to get Chartway Federal Credit Union’s LifePlus Checking

You can open this account online or at your local branch. You will need to provide your name, date of birth, current address (and previous address, if you have moved in the past two years), government-issued I.D. number, Social Security number and work address in order to apply.

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How Chartway Federal Credit Union’s checking accounts compare

If you want your checking account to earn you a decent amount of interest, LifePlus Checking isn’t a good option. The accounts on our list of the best checking accounts include ones with higher APY offerings than LifePlus Checking’s highest rate tier, at a lower balance and without all the fees. The combination of fees and lack of perks makes this checking account rank fairly low when held up to the competition.

Chartway Federal Credit Union’s savings account options

Prime Share Savings

This account is mandatory, but the dividends are low.
APYMinimum Balance to Earn APY
0.15% $100
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $6, though this fee can be waived with regular direct deposits, 10 monthly debit card purchases, $200 average monthly balance or possessing a qualifying Chartway Federal Credit Union account or product.
  • ATM fee: $1 at out-of-network ATMs
  • ATM fee refund: Available upon written request.
  • Overdraft fee: $6 if you sign up for overdraft protection; $30 if you do not.

This account is required to establish your credit union membership and represents your ownership share. While the dividend offering is low and the minimum balance requirement a bit high, you don’t really have a choice. If you want to open any other account with Chartway Federal Credit Union, you’re going to have to open this one first (a standard practice at credit unions).

The good news is that the minimum opening balance requirement is incredibly reasonable. Even if you choose to keep the bulk of your savings with another financial institution where it could earn a higher yield, you don’t need that much to keep this mandatory account open.

In fact, if you’re going to have this account open, it’s wise to pair it with another. That’s because the monthly maintenance fee can be waived if you have both a Prime Share Savings account and another deposit or loan product with the credit union. This fee can also be waived if you maintain an average daily balance of $200 or more or if you set up direct deposit.

Prime Share Savings, along with all savings accounts at all American financial institutions, is governed by federal Regulation D. This rule says that you can only make six withdrawals from your savings account in any given month without penalty imposed by the credit union. If you exceed this limit, you may be charged an excessive withdrawal fee, have your account converted into a checking account or even have the account shut down altogether.

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CustomShare Savings

Set up separate savings accounts for separate savings goals, but don’t expect a high yield.
APYMinimum Balance to Earn APY
0.05%$100
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: None
  • ATM fee: $1 at out-of-network ATMs
  • ATM fee refund: Available upon written request.
  • Overdraft fee: $6 if you sign up for overdraft protection; $30 if you do not.

Custom Share Savings is available to people who want to open an additional savings account. The APY on this account is even lower than Prime Share Savings, so dividends would not be a great reason to open it up. However, if you want to have several savings accounts in order to keep track of several independent savings goals, opening this account can be a good way to go about it if you don’t care about your returns.

How to get Chartway Federal Credit Union’s Savings Accounts

You can open these accounts online or in person. For Prime Share Savings, even if you apply online, you’ll be prompted to open this account before all others as it is required for membership. Before you apply, prepare personal identifying information such as your name, current address, any past addresses over the past two years, Social Security number, date of birth, government-issued I.D. number and work address.

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How Chartway Federal Credit Union’s savings accounts compare

Chartway Federal Credit Union’s dividend offerings on savings accounts are extremely low. While you are required to open a Prime Share Savings account in order to gain membership into the credit union, it would be wise to keep your savings somewhere else if you’d like to see it grow through a higher APY. You can find accounts that help you do just that by checking out our list of the top savings accounts on the market.

Chartway Federal Credit Union’s CD rates

Share Certificate

This CD offers average rates, but its low opening deposit requirements and penalty-free withdrawals are nice.
TermAPY
12 Months1.35%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: None

The current rate offered on this 12-month certificate is just OK. It’s not the highest, but it’s not the lowest, either. The strength of this certificate does not lie in its APY, though. Nor is it the low minimum opening deposit and balance requirements. Rather, the biggest draw of this account is the fact that it’s penalty-free, meaning you can withdraw your money without incurring any restrictive fees.

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Flex-Term Share Certificate

Competitive rates and flexible term lengths make these certificates attractive.
TermAPY
6-11 Months1.70%
12-17 Months2.10%
18-23 Months2.25%
24-35 Months2.25%
36-47 Months2.35%
48-59 Months2.35%
60-71 Months2.60%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: Contact Chartway Federal Credit Union for exact penalties on your specific certificate.

Dividend rates on Chartway Federal Credit Union’s Flex-Term Share Certificates are competitive. You could sleep at night knowing that you got a fair rate if you chose to open one of these accounts.

These certificates also come with a low minimum opening deposit, which may make them more accessible to a larger swath of consumers. The flex-term offerings mean that you don’t have to choose between a 12-month and 18-month term if your savings goal is 15 months away. You can pick the exact term to match your ideal financial circumstances.

How to get Chartway Federal Credit Union’s Share Certificates

You can open share certificates by visiting a branch or applying online. Be sure to have your government-issued I.D.’s number, Social Security number, date of birth, home address, work address and any additional addresses you’ve lived at over the course of the past two years.

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How Chartway Federal Credit Union’s CD rates compare

Certificates are Chartway Federal Credit Union’s most competitive deposit account offering. With small minimum deposit requirements, the barrier to entry is lower than it would be at other financial institutions. On top of that, dividend rates on Flex-Term Certificates are up there with some on our list of the best CD offers on the market, and you get to choose your own term, even if it doesn’t fall on a six-month interval.

Chartway Federal Credit Union’s money market account options

Money Market Account

Low fees don’t compensate for low APY offerings.
APYMinimum Balance to Earn APY
0.15%$2,500
0.20%$5,000
0.20%$10,000
0.30%$25,000
0.40%$50,000
0.40%$100,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: $2,500
  • Monthly account maintenance fee: None
  • ATM fee: $1 at out-of-network ATMs
  • ATM fee refund: Available upon written request.
  • Overdraft fee: $6 if you sign up for overdraft protection; $30 if you do not.

Chartway Federal Credit Union has a minimum balance requirement that’s below many other money market accounts, but unfortunately you won’t be earning competitive dividends when you keep your money in this account. Traditionally, money market accounts have offered higher rates than savings accounts, but in recent years that gap has quickly closed. That means that not only can you find money market accounts with better rates, you also can find savings accounts at other financial institutions that will offer you a higher yield.

Money market accounts fall under Regulation D just like traditional savings accounts — which means you’ll only be able to make six withdrawals per month before potentially incurring negative consequences like excessive withdrawal fees, conversion of your account into a checking account or closure of your account altogether.

How to get Chartway Federal Credit Union’s Money Market Account

You can open this account online or in person with your address, date of birth, government-issued I.D. number, Social Security number, any additional addresses where you’ve lived over the past two years and your work address.

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How Chartway Federal Credit Union’s money market accounts compare

Money market rates at Chartway Federal Credit Union are not competitive. You can find significantly higher APY offerings on our list of the best money market accounts. Really, you could even find far more competitive rates via savings accounts, and these accounts tend to have lower minimum balance requirements than money market accounts.

Chartway Federal Credit Union’s IRA account options

IRA Share Certificates

These offer competitive rates, especially on terms of at least five years.
Term  APY
6-11 Months1.70%
12-17 Months2.10%
18-23 Months2.25%
24-35 Months2.25%
36-47 Months2.35%
48-59 Months2.35%
60-71 Months2.60%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: Contact Chartway Federal Credit Union for exact penalties on your specific certificate.

Rates on IRA Share Certificates are the same as Flex-Term Certificates, and just as competitive. On 60 month to 71 month certificates, this financial institution actually sits near the top of the charts. There is a bit more competition for other terms, though.

Minimum deposits and balances are reasonable on this account as well. It is important to note that should you make a withdrawal from your IRA Share Certificate, you won’t just face early withdrawal penalties. You’ll also have to pay taxes and penalties to the IRS in most situations if you are under the age of 59 ½.

How to get Chartway Federal Credit Union’s IRA Share Certificates.

You can apply for this account in person or get the process started online. While Chartway Federal Credit Union is likely to request further paper documentation from you, it is unique that you can apply for this account online at all.

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How Chartway Federal Credit Union’s IRA CD rates compare

Chartway Federal Credit Union is competitive in this arena. In fact, on 60- to 71-month IRA Share Certificates, you will find that this financial institution offers one of the highest APYs at the time of this writing. For all other terms, it would be advisable to check out our list of the top IRA CD rates. Chartway Federal Credit Union’s rates certainly aren’t abysmal across these terms, but they’re not the absolute highest either.

IRA savings account

Low rates on an already conservative investment.
APYMinimum Balance to Earn APY
0.40% $100
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: None

An IRA savings account is an extremely low-risk, and therefore conservative, portfolio holding. Because your returns are going to be low, you want to make sure you don’t further hinder yourself by opening an account with an uncompetitive APY.

Unfortunately, that’s exactly what you’d be doing by opening an IRA savings account with Chartway Federal Credit Union. You can find dramatically higher rates with other financial institutions.

How to get Chartway Federal Credit Union’s IRA savings account

Unlike many other financial institutions, you can start the application process for your IRA savings account online. There will likely be more documentation that will be requested in hard copy after you’ve initiated your application, but it is nice to have an option in addition to visiting a physical branch in person.

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Overall review of Chartway Federal Credit Union’s banking products

The only products worth further examination at Chartway Federal Credit Union are its certificates, whether they’re in an IRA or not. These certificates are the only deposit account products from the credit union to offer competitive rates, and they do so while keeping minimum balance requirements low and terms flexible.

Otherwise, you’re going to want to shop elsewhere for your banking needs. There’s just too big of a gap between what Chartway Federal Credit Union offers in ways of dividends and the best APY offers by other financial institutions.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brynne Conroy
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Brynne Conroy is a writer at MagnifyMoney. You can email Brynne here

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Credit Cards, Reviews

American Express Gold Card: Good Travel Rewards for a Fee

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. This site may be compensated through a credit card partnership.

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The American Express® Gold Card is an upgraded American Express charge card without a pre-set spending limit. It’s also a card that rewards cardholders with American Express Membership Rewards® Points for airfare, dining, gas, and grocery spending.

A charge card is one that you need to pay off completely each billing cycle, so there’s no interest. However, since there’s no pre-set spending limit either, you need to keep an eagle eye on spending activity to make sure you can pay off the statement in full at month’s end. Making a late payment can cause you to forfeit Membership Reward points earned during that billing cycle.

In this post, we’ll discuss the American Express® Gold Card terms and how to redeem points. Keep reading for an overview on:

  • American Express® Gold Card basics
  • How to redeem Membership Rewards points earned
  • The fine print details
  • The benefits and protections
  • The pros and cons

The basics of the American Express® Gold Card

3X Membership Rewards® points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).

$100 airline fee credit.

You can get up to $100 airline fee credit on your statement each calendar year to cover incidentals charged by an airline of your choosing. Qualifying incidentals are charges separate from your airline ticket like baggage fees and not ticket upgrades.

American Express® Gold Card

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American Express® Gold Card

Annual fee
$250
Rewards Rate
3X Membership Rewards® points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
Credit required
good-credit
Excellent/Good

How to redeem Membership Rewards® Points earned

Through Membership Rewards®, cardholders can transfer points to participating travel and lodging loyalty programs or redeem points for travel bookings, gift cards, statement credits, and other rewards. The value of your points varies depending on how you choose to use them.

Flights, hotels, and vacations

You can pay with points for flights, hotels, and vacations on the American Express Travel site. Using points for flights offers excellent value.

Here’s the point value breakdown on travel and accommodations:

  • Flights: $10 per 1,000 points
  • Hotels, cruises, and vacation packages: $7 per 1,000 points

Transferring your Membership Rewards® Points

If you choose to transfer your points to another program, generally, 1,000 Membership Rewards® Points will transfer as 1,000 miles, points, or credits.

However, transfers that have a different value include (as of the publication date of this article):

  • British Airways and Iberia: 250 Membership Rewards points = 200 Avios
  • El AL Israel Airlines: 1,000 Membership Rewards points = 20 Matmid points
  • Hilton: 1,000 Membership Rewards points = 1,500 HHonors points
  • JetBlue Airways: 250 Membership Rewards points = 200 JetBlue TrueBlue points
  • Starwood Preferred Guest: 1,000 Membership Rewards points = 333 Starpoints
  • Virgin America: 200 Membership Rewards points = 100 Elevate points

Occasionally, there are transfer specials for participating loyalty programs.

Statement credit and gift cards

Using points to put a dent in your credit card bill won’t be the best use of your points. 1,000 points equals just $6 in a statement credit.

Several of the gift cards through Membership Rewards® will give you more in cash value. For example, 1,000 points can get you a $10 gift card at restaurants, retail stores, and hotels including:

  • Hyatt Hotels and Resorts
  • Mandalay Bay Resort & Casino
  • Maggiano’s Little Italy
  • Seasons 52
  • Banana Republic
  • Crate and Barrel

There’s an entire list of the redemption values for gift cards on the Membership Rewards® site.

Other rewards

Using points for shopping, charitable donations, and entertainment are other redemption options. But, again, these options won’t give you as much value for your points as redeeming for flights and gift cards.

The value of 1,000 points ranges from $5 to $7 when shopping at retailers through Membership Rewards® or at Ticketmaster, Amazon.com, BestBuy.com, or Newegg.com.

The fine print

The American Express® Gold Card has an annual fee of $250. If you spend a lot of money on the card, the fee can be worthwhile. However, if you don’t spend a lot, you might want to consider a no fee option.

In addition – when you transfer points to a U.S. frequent flyer program, there’s a $0.0006 fee charged per point to compensate for the federal excise tax. Although this fee has a lot of zeros in it, the cost may still be impactful if you’re transferring a lot of points. For instance, 100,000 points transferred will cost you $60.

On the plus side, this card has no foreign transaction fee.

Benefits and protections

Car Rental Loss and Damage Insurance

If you pay for a qualifying car rental with your American Express® Gold Card, the rental car is covered against damage and theft after declining the collision damage waiver. Rentals that won’t qualify for coverage are trucks, off-road vehicles, full-size sport vehicles, and exotic cars.

Purchase Protection

If an item you purchase is lost, stolen, or damaged within 90 days of purchase, you may be reimbursed for it.

Pros and cons

Pro: 3X points on travel. If you fly often for work or play, this card rewards you well each time you use it.

Con: The fee. The biggest con here is the annual fee. But, since there are several ways you can earn points in the 3X and 2X categories, you may be able to easily cover this fee throughout the year.

Pro: Membership Rewards. This card is enrolled in the Membership Rewards® Points program and gives you many options for point redemption. The Membership Rewards® site is also incredibly easy to navigate, and there’s no ambiguity in point value. The rewards portal shows examples of exactly what your points are worth for each redemption option.

Con: The fee to transfer points. The ability to transfer points to another program is a pro, but being charged for U.S. frequent flyer program transfers is a tiny gotcha in the fine print.

Pro: No foreign transaction fees. One area in the fees where you do catch a break is with foreign transaction fees. This aspect of the card is fitting since it’s one that rewards you for planning travel.

Who will benefit most from the American Express® Gold Card?

Your ability to earn enough points to surpass the fee will determine whether this is a good card for you.

And if you’re shopping around for a rewards program that will give you the most value for travel, Chase Ultimate Rewards® is an option you should compare to American Express Membership Rewards®.

The Chase Sapphire Preferred® Card*, in particular, is part of the Chase Ultimate Rewards® program and allows you to transfer points to other travel partners as well. Plus, it has an offer that gives 1.25 cents per point for travel. This is slightly more value than what you get for flights with American Express Membership Rewards® since 1,000 points per $10 works out to 1 cent per point.

Before signing up for any rewards card, you should do this type of comparison shopping to figure out which offer will give you the most value for your spending habits.

*The information related to Chase Sapphire Preferred® Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Taylor Gordon
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Taylor Gordon is a writer at MagnifyMoney. You can email Taylor here

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Earning Interest, Reviews

Discover Bank CD Rates Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Discover Bank
Most people know Discover as a credit card company, but it also operates an online bank and offers some of the best rates and terms on checking and savings accounts and certificates of deposit (CDs).

Savings account bonus offer: Earn up to $200 on your first Discover savings account

As a bank, Discover offers some of the best products on the market. Currently, they’re offering a major deal on their online savings account, which currently earns 1.80% APY. If you apply for their savings account for the very first time by 12/02/19 and deposit a balance of at least $15,000 by 12/16/19, you can earn a $150 bonus. If you deposit a balance of at least $25,000 by the same date, you can earn a $200 bonus. Applying for the account is easy as you don’t need to go to a branch. Bonuses will be credited to your account by 12/30/19. You can apply online or over the phone. Just be sure to enter or mention the promo code MM1119 when you apply.

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If you’re looking for CDs in particular, Discover is currently considered to have some of the best CDs due to their customer service and digital tools.

Discover Bank CD rates

CD term

Annual Percentage Yield (APY)

3 months

0.35%

6 months

0.65%

9 months

0.70%

12 months

2.10%

18 months

2.10%

24 months

2.15%

30 months

2.15%

3 years

2.15%

4 years

2.15%

5 years

2.20%

7 years

2.25%

10 years

2.30%

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How do Discover Bank CD rates compare?

While Discover Bank CD rates aren’t always the highest available, they are consistently among the top offers across all terms. However, you may be able to find a similar or even better rate with a CD that has a lower minimum deposit than Discover’s $2,500 requirement. Currently, several nationwide banks offered a 12-month CD at a rate higher than Discover’s 12-month CD APY, while requiring a lower minimum deposit. For example, at the same time the above rates were available at Discover, there were 12-month CDs with rates as high as 2.10% APY with a lower minimum balance amount to earn the APY.

It’s always great to go for the highest interest rates possible, but keep your CD investing strategy in mind. If you’re investing in CDs using the ladder strategy, it might be easier to keep everything in one bank since you’ll be switching in and out of CDs frequently.

Discover also stands out from its competition in the CD space with its mobile app and 24/7 U.S.-based customer service. If you value such features, keep those particulars in mind when weighing Discover CD rates against others’.

What you need to know about Discover Bank’s CDs

Discover Bank is very transparent in terms of fine print. It’s not difficult to understand what’ll happen with your money after you invest it. We’ll cover the basics here about what you need to know to invest in Discover Bank’s CDs.

How to open a CD

It’s very simple to open up a CD with Discover Bank. Go to their CD webpage and click on the orange “Open an Account” button near the top right of the page. You can then choose which accounts you’d like to open. Select “CD,” choose a CD term and enter how much you’d like to deposit.

You’ll then need to complete the application by providing your name, address, date of birth, phone number, Social Security number, employment status and possibly even your driver’s license. Once your application is complete and accepted, you’ll need to fund the account.

How to fund the CD

You’ll need to fund it within 45 days of submitting your application, which you can do in one of three ways:

  • Transfer funds from another bank account over the phone. (You can only do this when you first fund your account.)
  • Transfer funds from another bank via online transfer.
  • Write a check to yourself and send it to the following address:Discover Bank
    P.O. Box 30417
    Salt Lake City, UT 84130

The minimum deposit amount for each of Discover Bank’s CDs is $2,500. Once you open a CD, you can’t deposit more money later, so it’s a good idea to make sure you have all the cash you want to invest before you open the account.

Withdrawing funds from the CD

When you want to withdraw money from your CD, the biggest thing to consider is whether that CD has matured yet, or finished its term.

If your CD has not matured, you’ve got options: You can take the interest out penalty-free at any time, or you can withdraw the principal (or the money you deposited) at any time as long as you pay an early-withdrawal penalty. This penalty varies depending on the original term of your CD:

  • less than one year: three months’ worth of simple interest
  • one year to less than four years: six months’ worth of simple interest
  • four years: nine months’ worth of simple interest
  • five years to less than seven years: 18 months’ worth of simple interest
  • seven years or longer: 24 months’ worth of simple interest

If your CD has finished its term, you can withdraw your money penalty-free, allow the CD to renew or roll it into a CD of a different term length. (More on that in a bit).

Earning interest on a Discover CD

Your CD will start earning interest on the same business day that you fund the account. The interest will be added to your account once each month, however.

When it comes to what to do with your interest, you have two options: The default option is to allow it to compound within the CD (meaning you’ll earn interest on that interest), or you can have it automatically deposited each month into another Discover bank account.

What happens once the CD matures?

You’ll get a heads-up notice about a month before your CD matures so you can decide what to do with the money. You have two main options: Either reinvest it into another CD (of the same term length or a different term length), or withdraw the money from the CD and put it into another account (such as a checking or savings account, or perhaps a CD at a different institution).

If you don’t let Discover know what you want to do with the maturing CD, the CD will automatically renew into another one of the same term length. You have a nine-day grace period after your CD automatically rolls over to make any changes or withdrawals penalty-free.

The bottom line

As far as big-name banks go, Discover offers great CD products. Wells Fargo, for example, only offers interest rates as high as 1.55% APY on a $5,000 deposit for a 58-month CD. Chase Bank offers even lower maximum rates — an abysmal 1.05% APY, and only if you can commit a minimum of $100,000 for 10 years.

If you’re the kind of person who likes to keep your finances in one place, Discover also has great credit cards, as well as competitive online savings and checking accounts. No matter how long you’re considering putting money in a CD, Discover is worth a look. Even if it doesn’t have the best available rate, it’s usually within several basis points of the top offerings and well above the average APY.

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Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lindsay VanSomeren
Lindsay VanSomeren |

Lindsay VanSomeren is a writer at MagnifyMoney. You can email Lindsay here