Update 11/19/22: ACI is now sending out $10 compensation to Paypal accounts which made a payment when there was a cash advance issue to compensate for any fees. Interestingly, some people who never got hit with any fees still got the $10 credit. (ht nurglefish)
Update 11/1/22: Two readers (1, 2) heard from Paypal that this issue has been fixed. We need corroborating data points of recent payments to that effect.
Original Post:
Multiple reports from the past month indicate that federal tax payments processed via ACI Payments using Paypal as the payment method will trigger a cash advance fee. While the tax payment itself will not be considered a cash advance, the fee – charged separately – is erroneously being considered as a cash advance. You’ll get hit with a cash advance fee and begin paying interest immediately.
A lot of people are getting hit by this now with Paypal being the Chase Freedom Q4 category. ACI and all other IRS-approved payment processors clearly state that no cash advance fee will be charged (ACI link). Yet with the (new-ish) Paypal payment option the service fee is erroneously being considered by the banks as a cash advance. (1, 2, 3)
You can instead use the payUSAtax processor who also allows Paypal as a payment option and has a slightly lower fee (see this comment). I haven’t yet heard of any reports of a cash advance issue when using payUSAtax. Please let us know if you have recent experience – positive or negative – when using Paypal via payUSAtax.
Chase IHG Rewards Premier Business Credit Card is offering 165,000 points after $3,000 in purchases within the first three months
Card Details
$99 annual fee
This new cardmember bonus offer is not available to either (i) current cardmembers of this business credit card, or (ii) previous cardmembers of this business credit card who received a new cardmember bonus for this business credit card within the last 24 months.
Card earns at the following rates:
10x on IHG purchases
5x on gas stations, dining, social media and search engine advertising and office supply store purchases
3x on all other purchases
Automatic IHG Platinum status, earn Diamond Elite with $40,000 in spend
$50 United TravelBank cash each calendar year. Must register card in your United account
TSA PreCheck/Global Entry Credit
Spending bonus of 10,000 points + $100 statement credit after spending $20,000 within a calendar year. Additional free night after $60,000 in spend
Redeem three nights, get one night free
Our Verdict
This is the highest offer we’ve seen on this card, previous high was the base bonus of 140,000 points. The nice thing about this card is that it doesn’t count towards your 5/24 status as it’s a Chase business card. We will add this to our list of the best credit card bonuses.
Life insurance is a major component of most any overall financial plan – regardless of one’s age or employment status. That is because loved ones could be faced with massive debts to pay – including the cost of a funeral and other financial expenses – if the unexpected should occur.
The proceeds that are received from life insurance policies are income tax-free, so loved ones can use the entire amount of the funds for their needs. This can help them to avoid a financial hardship, at an already difficult time in their lives.
When you are in the process of seeking life insurance coverage, several key factors are essential to keep in mind before making a long-term commitment to a policy. These should include obtaining the proper type and amount of insurance coverage, as well as making sure that the insurance company that you are purchasing the policy through is secure and stable financially and that it has a good, solid reputation for paying out its claims to policy holders and beneficiaries. One company that meets these criteria is Geico Insurance Company.
The History of Geico Insurance Company
Geico has been in business since 1938. Over the past 80 years, the company has grown and expanded exponentially, and today the company is ranked as the second largest private passenger auto insurance company in the United States.
The name Geico is an acronym for Government Employees Insurance Company, which goes back to the company’s beginnings. The founder of Geico, Leo Goodwin, initially targeted a customer base that consisted primarily of United States government employees and military personnel.
The company now insures military and government personnel, as well as private consumers. In 1996, Geico became a wholly owned subsidiary of Berkshire Hathaway, which is headed by the world’s most famous investor, Warren Buffett. For the past several years, Fortune magazine has named Berkshire Hathaway’s property casualty insurance operation as the most admired in the U.S.
Presently, Geico is made up of its primary unit, the Government Employees Insurance Company, along with several affiliates, including:
Geico General Insurance Company
Geico Indemnity Company
Geico Casualty Company
Geico Advantage Insurance Company
Geico Choice Insurance Company
Geico Secure Insurance Company
Geico is headquartered in Chevy Chase, Maryland (near Washington, DC). The company also has some regional offices that are dotted throughout the U.S., including locations in:
Buffalo, New York
Dallas, Texas
Frederickson, Virginia
Lakeland, Florida
Macon, Georgia
San Diego, California
Tucson, Arizona
Virginia Beach, Virginia
Woodbury, New York
There are also several services centers, which are in Iowa, Indiana, and Hawaii, as well as some claims centers, which can be found in Houston, Texas, as well as in Seattle, Washington, and in Marlton, New Jersey.
Geico Life Insurance Review
Today, Geico insures more than 15 million auto insurance policies – and growing – and the company has more than 24 million vehicles insured. It is one of the fastest growing major auto insurers in the country, employing more than 36,000 associates, and providing customer service 24 hours per day, seven days per week, and 365 days per year. As of year-end 2016, Geico had assets under management of more than $32 billion.
The company has also earned a long list of various awards and accolades over the years. For example, Geico was named to Ward’s 50 top group of financially high-performing insurers for the 21st consecutive year in 2011. This award recognizes that Geico achieved outstanding financial results in the areas of safety, consistency, and performance.
Also, Geico was rated as being superior by consumers in 2007, for its customer advocacy. Forrester defines this as being “the perception by customers that a firm (Geico) does what’s best for them, and not just what is best for its bottom line.”
Geico was also rated as #1 by the Kanbay Research Institute for being the most desired insurer amount consumers based on the following factors:
High regard for customer service
Focus on staff training and development
Likewise, the owner of Geico, Berkshire Hathaway, was named as being a leading company in world insurance markets. These rankings include:
#1 global insurance company by revenues in 2013, based on an analysis of companies in the Global Fortune 500.
#2 writer of private passenger auto insurance by direct premiums were written in 2013. (Before reinsurance transactions, includes state funds. Based on U.S. total, includes territories).
Geico has also been named a leader in ethical practices in the property/casualty industry, and Berkshire Hathaway was appointed as a leader in ethical practices in the financial services sector by Ethisphere Magazine.
Also, Geico achieved the highest overall score in Forrester Research’s 2014 U.S. Mobile Auto Insurance Functionality Benchmark. With perfect scores in policy information and management categories, Forrester proclaimed Geico as “The pocket auto insurer.”
Geico’s Mobile App and insurance site received a #1 ranking on Keynote’s 2015 Mobile Insurance Scorecard, competing against top insurers. Geico is also ranked first for technical quality, according to Keynote KCR (Keynote Competitive Research).
While the company has traditionally been known for its vehicle coverage options, Geico doesn’t just offer auto insurance. The insurer offers a broad range of coverage products and services, including life insurance, home owner’s insurance, and even identity theft protection.
Insurer Ratings and Better Business Bureau Grade
Due to its stable financial footing, as well as its timely payment of customers’ insurance claims, Geico has been given high ratings from the insurer rating agencies. These include the following:
AA+ from Standard and Poor’s
Aa1 from Moody’s
A++ from A.M. Best Company
Also, although Geico is not an accredited company through the Better Business Bureau (BBB), the company has been given a grade of B by the BBB. This is on an overall grade scale of A+ to F.
Throughout the past three years, Geico has closed out a total of 2,514 customer complaints – of which 158 have been closed out within the previous 12 months. Of these total 2,514 complaints, 1,655 regarded as the company’s product and/or services, while 658 were regarding billing and/or collection issues. Another 125 considered advertising and/or sales issues, 55 were concerning guarantee and/or warranty issues, and the remaining 21 complaints focused on delivery issues.
Life Insurance Products Offered Through Geico
Customers of Geico can obtain life insurance coverage via Life Quotes, Inc. The company offers term life insurance policy, which provides pure death benefit protection, without any cash value or savings build up. Because of this, the premiums for term life insurance can typically be quite affordable – especially for those who are young and in good health at the tie of policy application.
As its name implies, term life insurance is purchased for a set period – or term – such as five years, ten years, 15 years, 20 years, or even for 30 years. In most cases, the amount of the death benefit coverage, as well as the sum of the premium, will remain level throughout the term of the policy.
And, provided that the premiums are paid on time, the company that issues the term life insurance policy will not be able to cancel the coverage. Once the term of a policy reaches its end, the insured may opt just to purchase a new policy (if he or she qualifies based on their then-current health).
As with its other forms of insurance coverage, getting life insurance via Geico can be a natural process. For example, by teaming up with Life Quotes, Inc., customers can expect the following benefits:
Easy paperwork/application process
Natural customer service process
Convenient payment plans for paying the premium, which include monthly, quarterly, or annual payment options
A full range of coverage limits to meet each customer/policy holders’ needs
When applying for life insurance through Geico / Life Quotes, Inc., an applicant’s health is considered. Once approved, the life insurance policy will typically cover death due to any cause, other than that of suicide within the first two years of policy ownership.
Once an individual has been approved for life insurance coverage through Geico / Life Quotes, policy holders can access their policy directly through the Geico website. This can make it easy to check coverage, as well as to make changes to one’s account, such as address and other contact information, and the name of the policy’s beneficiary.
The Geico website also helps to prompt a policy holder with various information that may assist them in reviewing their life insurance coverage, and in deciding whether to alter their coverage limits in the future. For example, some of the reasons why someone may want to change the amount of their coverage include:
A change in household income/employment status
Marriage, divorce, or becoming widowed
The birth or adoption of a child
Retirement
New grandchild(ren)
Serious illness and disability
Caring for an aging parent
Starting a new business
Selling off one’s home and purchasing another
New Drivers under 25
Now, Geico does not offer permanent life insurance coverage – which includes whole life, universal life, indexed universal life, variable life, or variable universal life – all of which include both death benefit protection and a cash value component.
Purchasers of many of the insurance plans that are offered through Geico may qualify for a premium discount.
Other Products and Services Available
While Geico is a primary insurer of automobiles, it also provides a wide selection of other products such as life insurance and other types of coverage, such as:
Motorcycle insurance
ATV insurance
Umbrella insurance
Home owner’s insurance
Renters insurance
Condo insurance
Co-op insurance
RV (Recreational Vehicle) insurance
Boat insurance
Personal watercraft insurance
Flood insurance
Mobile Home insurance
Overseas insurance
Travel insurance
Commercial Auto insurance
Ridesharing insurance
Business insurance
Identity Protection insurance
Snowmobile insurance
Collector Car insurance
Mexico Car insurance
Pet insurance
Jewelry insurance
How to Get the Best Rates on Life Insurance From Geico Insurance Company
If you have been seeking the best rates on term life insurance from Geico – or from any insurer – it can be beneficial to work with an independent life insurance agent or broker. In doing so, you will be better able to compare side-by-side the policies and the premium prices from numerous different insurance carriers. From there, you will then be able to choose which one will be the best for you.
When you are ready to move forward with the life insurance purchase process, we can help. We are an independent life insurance brokerage, and we work with many of the top life insurance carriers in the market place today. We can assist you with obtaining all the pertinent details that you require for making a well-informed buying decision, and we can do so for you quickly, easily, and conveniently – all without you having to meet in person with an insurance agent. If you are ready to get started, then all you should do is just simply fill out our quote form.
We understand that the purchase of life insurance coverage can be somewhat overwhelming. There are many different variables to consider – and you want to be sure that you are making the best decision regarding type and amount of coverage for your specific needs. The good news is that the life insurance purchasing process can be done so much easier when you are working with an expert on your side. So, contact us today – we’re here to help.
A Chase spokesperson confirmed today with Doctorofcredit that they will honor Whole Foods as part of the Amazon category to earn 5x points during the second quarter of 2023.
We pointed out in our original post that Whole Foods was included in the fine print of the Amazon category to earn 5x during Q2 2023, yet the Chase system was not automatically awarding those points. This has now been fixed, and everyone should automatically get the proper 5x rewards for purchases since April 1st and continuing through June 30th.
We appreciate you and our cardmembers for flagging this issue, and can report that we’ve taken the necessary steps to research, identify, and rectify the error. Cardmembers will be retroactively rewarded and will have no issues with Whole Foods, as part of the Amazon rewards category, moving forward. And, cardmembers who activate by 6/14 will be rewarded on any applicable spend from 4/1 through 6/30.
Last week, Wells Fargo boasted about its homeowners collectively receiving $50 million in mortgage principal reduction via the Wells Fargo Home Rebate Card Rewards Program since its launch back in 2007.
While that sounds pretty nifty, is the program just another marketing gimmick, or does it actually deliver?
Let’s dig into the details to find out.
How the Wells Fargo Home Rebate Card Works
The Wells Fargo Home Rebate Card aims to pay down your mortgage faster
By applying the cash back you earn with the card to the principal balance
This reduces how much you need to pay in the way of interest
And results in a home loan that is paid off before maturity
First off, the program relies upon Wells Fargo mortgage holders opening a credit card, known as the “Wells Fargo Home Rebate Card.”
From there, each purchase made using the card earns a 1% rebate, which is credited to the principal balance on your Wells Fargo mortgage in $25 increments.
In other words, once you spend $2,500 with the credit card, you’ll earn a $25 rebate, which will be applied to your outstanding mortgage balance.
For example, if you have a 30-year fixed mortgage with a $200,000 loan amount, and you spend $2,500 per month on the card, Wells Fargo would apply $8,525 toward your principal balance over the life of the loan.
That would save you $7,833 in interest for a total savings of $16,358 (shorter amortization period).
It would also reduce your loan term from 30 years to 28 years and seven months, meaning you’d own your home free and clear just a little bit sooner.
And all of this would be accomplished automatically, with no fees or work required on your end to take part.
Additionally, Wells Fargo Home Rebate cardholders can earn 3% back on gas, grocery, and drugstore purchases during the first six months.
Note: Several types of mortgages are not eligible, including commercial first mortgages, certain second mortgages, farm loans, piggyback mortgages, and loans in process that are not yet funded.
The Good, Bad, and Ugly
While it might sound like a clear winner
You only get 1% cash back via this credit card
There are plenty of other credit cards that earn 2% cash back or more
And you can cash out those rewards to your bank then simply apply them to any mortgage on your own schedule
There are pros and cons to the Wells Fargo Home Rebate Card, like any other special offer out there.
The first negative is that it requires opening a credit card, which is essentially an invitation for more debt alongside your behemoth mortgage.
This is all good and well if you already use a credit card for most purchases, but it could land an irresponsible spender in even more debt.
Secondly, the rebate earned via this program is only 1% – many cash-back credit cards these days come with higher rebate levels, with some offering 5% in certain categories quarterly, or 2-3% year-round.
In other words, you could technically just take the cash back earned via your other credit cards and apply it to the principal of your Wells Fargo mortgage, or any other mortgage you happen to pay.
Or you could always just make extra payments to principal yourself or make biweekly mortgage payments instead.
Finally, deep in the terms and conditions of the program, Wells Fargo notes that your mortgage won’t be eligible if they sell your mortgage to another company. And worse, they can shelf the program at their discretion, at any time.
Now neither of those things may happen, but it’s still something to keep in mind when debating about going with the card.
On the flip side, the Home Rebate Card is automated, so you won’t have to worry about a lack of discipline in making extra payments to principal.
As long as you use the card enough, the extra principal payments will be made, and your mortgage will cost you less over time.
Is the incentive enough to go with a Wells Fargo mortgage? Probably not, but if all else is equal (e.g. same mortgage rate and fees), it could tip the deal in the bank’s favor.
And if you already have a Wells Fargo mortgage, which many Americans do, it’s something worth considering if you do most of your spending with a credit card.
Pros of the Wells Fargo Home Rebate Card
No annual fee
No limit to rebate amount
Principal paid down faster
Mortgage interest reduced
Loan term potentially shortened
Cons of the Wells Fargo Home Rebate Card
You need to open a credit card
Requires credit card spending to earn rewards
You can wind up in even more debt if you spend irresponsibly
Your mortgage may be sold by Wells Fargo (loss of eligibility)
Some people love to travel and have no problem spending their day in transit. However, others see air travel as a means to an end and find the whole airport experience a hassle.
There are ways to improve the experience for these travelers, including heading to an airport lounge before your flight.
A membership with Priority Pass — a global network of airport lounges, experiences and restaurants — can be a good option to gain lounge access.
Let’s look at Priority Pass lounges, how they work and some key things about the program.
1. Multiple types of airport experiences are available
Priority Pass is most known as a worldwide airport lounge program, featuring more than 1,300 locations from which to choose. However, Priority Pass isn’t just limited to lounges — it also includes experiences and discounts for its members.
The types of experiences available will depend on the airport. At some, you can get up to $28 for you and your guests to eat at eligible airport restaurants. At others, this can mean complimentary spa treatments before your flight.
And if you’re on an exceptionally long trip, you may appreciate the private bedroom suites available to Priority Pass members.
Finally, even if there aren’t lounges, restaurants or sleeping suites available, Priority Pass options may be available as discounts at select stores.
2. Not all memberships are the same
Now that we’ve discussed all the options available to Priority Pass members, there is one crucial caveat: Priority Pass has several different membership levels, and they’re not all equal.
The cheapest Priority Pass tier that will grant you lounge access costs $99 per year, but you’ll need to pay $35 for each lounge visit.
The most expensive is $469 per year but includes unlimited, complimentary visits for yourself — though you’ll still be required to pay for your guests.
🤓Nerdy Tip
Some travel credit cards offer a Priority Pass Select membership as a benefit — including Chase, Capital One and American Express.
3. Chase cards have the best memberships
The most well-known Chase card to offer Priority Pass Select membership is the Chase Sapphire Reserve®, which allows unlimited entry to cardholders and up to two guests.
Chase cardholders also receive additional benefits compared to other Priority Pass Select memberships.
In addition to lounge access, they get all the above experiences, including credits at restaurants, spa treatments and sleeping suites.
This isn’t the case for Priority Pass Select memberships through Capital One or American Express, which only include airport lounge access.
4. Capital One cards allow access to all authorized users
While Capital One cards don’t offer non-lounge Priority Pass access, they may be the best option if you’re trying to get a Priority Pass Select membership for more than just yourself.
This comes in handy because Capital One allows cardholders to add authorized users to their card for no fee — and authorized users are entitled to their own Priority Pass Select memberships, which include access for themselves and two free guests.
🤓Nerdy Tip
Capital One Venture X Rewards Credit Card holders also get access to Plaza Premium lounges.
5. Other cards offer more lounge access
If you don’t have a Capital One or Chase card, don’t worry. There are other choices when it comes to airport lounges.
Eligible credit cards from American Express include access to the Global Lounge Collection and a Priority Pass Select membership.
The International American Express Lounges.
Plaza Premium lounges.
Airspace lounges.
Lufthansa Business and Senator lounges.
Select Virgin Atlantic Clubhouse lounges.
🤓Nerdy Tip
Chase and Capital One have also been growing their networks of private lounges. However, they’re much more limited than the American Express Centurion Lounge network.
Terms apply.
6. Limited passes are an option, too
What if you don’t travel enough to justify the cost of a full Priority Pass membership? You could pay for the mid-tier membership, which costs $329 per year and includes 10 complimentary visits annually.
Or, you could get a less-expensive credit card offering similar benefits at a much lower price. The Hilton Honors American Express Surpass® Card, for example, charges a $95 annual fee but provides 10 free Priority Pass visits per year. Terms apply.
Priority Pass lounges recapped
Priority Pass membership can be a valuable perk if you’re a frequent traveler, especially if you can access lounges through your credit card. However, you’ll want to remember that not all memberships are equal and that each card issuer has its own pros and cons regarding airport lounge access.
Even if you’re only on a plane a few times per year, gaining access to a lounge via Priority Pass may be worth it, especially with memberships available for less than $100 per year.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Idaho has become a hot spot for those looking to relocate. Whether you’ve moved to Boise, Idaho Falls, or one of Idaho’s many small towns, you’ll need a place to park your money. The best banks in Idaho offer low fees and plenty of services. Here are some top contenders to consider if you’re in the market for a new bank.
13 Best Banks in Idaho
1. D. L. Evans Bank
Southern Idahoans looking for a local option should consider D.L. Evans Bank. Founded more than a century ago, this bank offers online and mobile options, as well as access to both D.L. Evans ATMs and 40,000 MoneyPass network ATMs.
Although D.L. Evans has multiple checking accounts, Free Community Checking is a great all-around option, featuring no monthly maintenance fees or balance requirements. You’ll also get online and mobile banking, along with savings, CDs, and loan options.
Fees:
No monthly service fee
Balance requirements:
$100 opening deposit
No minimum daily balance required
ATMs:
Fee-free at D.L. Evans ATMs
Fee-free at 40,000 MoneyPass ATMs nationwide
Interest on balance:
Tiered APY on checking with $500 balance
0.05% APY on savings
Additional perks:
Video chat with customer service representatives
Competitive loan rates
2. Chime
To pull new customers away from big banks, online-only banks like Chime have competitive offerings. You’ll get a fee-free checking account with a mobile app to meet all your banking needs.
Chime also offers a higher interest rate than other banks, at 2.00% APY. And autosave features will help you boost your balance.
Fees:
No monthly fees
No overdraft fees
Balance requirements:
No minimum daily balance
No opening deposit required
ATMs:
Fee-free at more than 60,000 ATMs nationwide
Interest on balance:
2.00% APY on savings
Additional perks:
Automatic savings feature available
Access to paycheck up to two days early
3. Chase
Another national bank with a robust ATM network is Chase Bank, which has a heavy presence in Southern Idaho. You’ll find banking options both at branches and in select Fred Meyer grocery stores.
You can get fee-free checking with Chase as long as you either maintain a $1,500 balance or receive at least $500 in direct deposits each month. Chase also has a variety of other financial products, including savings accounts, CDs, and wealth management services through JPMorgan.
Fees:
$12 monthly fee (waived with balance or direct deposit qualifications)
$34 overdraft fee
Balance requirements:
$1,500 minimum or $500 in direct deposits to waive service fee
No opening deposit required
ATMs:
Fee-free at 16,000 ATM locations nationwide
Interest on balance:
Up to 0.01% APY on savings
Additional perks:
$200 bonus on new checking with qualifications
Special accounts available for ages 6-17
4. Washington Federal Bank
Now known as WaFd, Washington Federal Bank is a great regional bank that serves Arizona, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington. Your account includes access to 37,000 ATMs in the MoneyPass network, which operates nationwide.
WaFd account holders choose from multiple checking options, but if lower fees are what you want, the Free Checking tier is worth checking out. One of the best things about WaFd is its online banking app, which includes standard features like bill pay and Zelle payments, along with tools that help you track your spending habits.
Fees:
No monthly fees
$30 overdraft fee per presentment
Balance requirements:
No balance minimums
$25 opening deposit
ATMs:
Fee-free at 37,000 ATM locations nationwide
Interest on balance:
Up to 0.25% APY on high-balance checking
Up to 0.10% APY on savings ($100 minimum balance)
Additional perks:
Financial management tools in app
Competitive credit card and loan options
5. Zions Bank
As far as regional banks go, Zions Bank is a great choice. With a 150-year history in the area, Zions Bank is a trustworthy financial institution that offers a variety of banking products, including auto loans, CDs, and military checking accounts.
It’s important to note that Zions is limited in its reach. You can deposit checks, pay bills, and manage your money through mobile banking, but if you regularly need cash, check the ATM locator. There are only 200 ATMs, located in Utah, Idaho, and Wyoming, and Zions charges a $2.50 out-of-network transaction fee in addition to fees charged by the other ATM operators.
Fees:
No monthly fees
$29 overdraft fee per transaction
Balance requirements:
No minimum balance
$50 opening deposit
ATMs:
Fee-free at 200 ATM locations regionally
$2.50 fee per out-of-network transaction
Interest on balance:
Up to 0.19% APY on savings
Additional perks:
Competitive rates on loans
Easy-to-use mobile app
6. Washington Trust Bank
Washington Trust Bank has a long, fascinating history. Not only is it the oldest community bank in the nation, but it was also the first bank to print bills with George Washington on them. Washington Trust has branches in Idaho, Washington, and Oregon.
If you’re looking for an online bank with no monthly service charges or balance minimums, Washington Trust could be a great choice. However, if you regularly travel, it may not be the best bank for you.
Fees:
No monthly fees
No overdraft fees
Balance requirements:
No minimum balance
$25 minimum deposit to open
ATMs:
Fee-free at Washington Trust ATMs
$2.00 fee per out-of-network transaction
Interest on balance:
0.01% APY on checking if you keep a $5,000 daily balance
Up to 0.05% APY on savings
Additional perks:
$200 bonus for Freedom Checking with qualifying deposits
No overdraft fees with Simply Free checking account
7. KeyBank
Another regional bank option is KeyBank, which has locations in 15 states. Unlike other regional banks, it’s fairly large, though. In fact, it’s one of the largest banks in the U.S.
One of the best features of KeyBank is its automatic savings program. Debit cards can be set up to automatically move money into your savings account to help you start saving.
Fees:
No monthly fees
$29 overdraft fee on each item
Balance requirements:
No minimum balance
$10 minimum deposit to open
ATMs:
Fee-free at KeyBank ATMs
Fee-free at AllPoint network ATMs
Interest on balance:
Up to 0.01% APY on savings
Additional perks:
Automatic savings available with every debit card purchase with EasyUp
Competitive rates on loans
8. First Federal Savings Bank of Twin Falls
If you don’t mind an Idaho-only bank, check out First Federal Bank of Twin Falls. Branches are primarily in the Twin Falls area, but bank accounts come with a 30,000-plus ATM network across the U.S.
Currently, this bank offers a checking account that issues an impressive 4.07% APY on checking. The savings account rates aren’t quite as competitive, but it’s worth checking out if you keep a decent checking balance.
Fees:
No monthly fees
$30 overdraft fee on each item
Balance requirements:
No minimum balance
$100 minimum deposit to open
ATMs:
Fee-free at more than 30,000 MoneyPass ATMs nationwide
Refund of $25 in fees per statement cycle
Interest on balance:
Up to 4.07% APY on checking
0.10% APY on savings
Additional perks:
Robust business banking options available
Competitive rates on loans
9. Idaho Central Credit Union
Residents of Idaho, Washington, or eastern Oregon, may qualify to join Idaho Central Credit Union. There are plenty of benefits to being a member, including competitive rates on savings accounts and loans.
Although ICCU does have fee-free checking accounts, you can find higher interest rates on savings with other options. But ICCU gives you nationwide ATM and mobile banking options, so it may be worth it if you prefer a smaller lender.
Fees:
No monthly fees
$24.94 overdraft fee on each item
Balance requirements:
No minimum daily balance
$5 membership fee
$100 minimum opening deposit
ATMs:
Fee-free at more than 30,000 ATMs nationwide
Interest on balance:
Up to 0.10% APY on savings
Additional perks:
Security features built into debit card
Free credit score and monitoring
10. Wells Fargo
Wells Fargo has branches in both Northern and Southern Idaho, particularly the Coeur d’Alene, Idaho Falls, and Boise Falls areas. Currently, Wells Fargo is offering a $300 bonus to new checking customers who make $1,000 or more in qualifying direct deposits in the first 90 days.
Northern and Southern Idaho residents who prefer traditional banks will like the availability of ATMs across the nation, as well as the convenience of branch locations. The most affordable checking account is Everyday Checking, which comes with a $10 monthly service charge that can be waived by keeping a $500 balance or having $500 in at least one qualifying deposit each month.
Fees:
$10 monthly fee (waived with balance or direct deposit qualifications)
$35 overdraft fee
Balance requirements:
$500 minimum or $500 in direct deposits to waive service fee
$25 to open
ATMs:
Fee-free at 12,000 ATM locations nationwide
Interest on balance:
Up to 0.10% APY on Prime Checking
Up to 2.51% APY on high-balance savings
Additional perks:
$300 bonus on new checking with qualifications
$525 bonus on new savings with qualifications
11. Farmers Bank
Another option for those who like local banks is Farmers Bank. You can get a fee-free checking account and features like bill pay and alerts in the app.
One downside to Farmers is that there are only a few branches in Idaho. But if you regularly travel outside Idaho, you’ll enjoy ATM access at MoneyPass ATMs nationwide.
Fees:
No service fees with e-statements
$30 overdraft fee per transaction
Balance requirements:
No minimum daily balance
$100 opening deposit required
ATMs:
Fee-free at Farmers ATMs and MoneyPass ATMs nationwide
Interest on balance:
Up to 0.30% APY on savings
Additional perks:
Competitive rates on loans
Drive-up banking on Saturdays
12. Bank of Idaho
If you’re looking for an Idaho bank with a community focus, Bank of Idaho can help. Like many banks with a local angle, Bank of Idaho goes beyond money to focus on connecting with its customers.
But Bank of Idaho does have only a few locations. You’ll rely on mobile apps to do most of your banking with a community-centered bank, making it more like online banks.
Fees:
No service fees with e-statements
Balance requirements:
No minimum daily balance
$100 opening deposit required
ATMs:
Fee-free at MoneyPass ATMs nationwide
Interest on balance:
Rates not publicly disclosed
Additional perks:
Community focus, including local events
Financial tools on the website
13. Citizens Community Bank
Fee-free checking accounts and competitive loan rates make Citizens Community Bank a great option for Idahoans. You’ll get a fee-free checking account with an online app to make things easy.
Although Citizens is local, you can withdraw money at ATMs at MoneyPass locations across the country. You’ll get all the amenities of online banks with the benefits of a small, local lender.
Fees:
No service fees
$30 overdraft fee per item
Balance requirements:
No minimum daily balance
No opening deposit required
ATMs:
Fee-free at MoneyPass ATMs nationwide and Glacier Bank local ATMs
Interest on balance:
Up to 0.20% APY on savings
Additional perks:
Competitive rates on loans
Free thank you gift for new members
Bottom Line
Whether you’re looking for an interest-bearing account for your money or a fee-free checking account, Idaho has plenty of options. If you prefer a small or regional bank, make sure you’re getting the amenities a larger bank offers with your account.
Active-duty military members face incredible stress. Whether they’re in combat zones or serving during times of peace, our service members experience challenges civilians may not consider, including being deployed and away from loved ones for months at a time.
So if you’re serving in the military, you may not be focused on opening new credit accounts or taking out loans. But putting an active-duty alert on your credit report makes it harder for thieves to open an account in your name, which can’t replace precious time with your family, but it can help alleviate concerns about identity theft while you’re deployed.
What Is an Active-Duty Alert?
An active-duty alert tells potential creditors and lenders you’re deployed and they should verify your identity before giving you credit. It appears on all three of your credit reports from the major credit bureaus: Experian, Equifax and TransUnion.
An active-duty alert functions in the same way as an initial fraud alert. Before granting credit, the lender should make a phone call to determine that you were the one who filled out the application.
Once you apply for an active-duty alert with one of the three major bureaus — Equifax, TransUnion, and Experian — that bureau must share the information with the other two credit bureaus. That means you only need to fill out the online application or mail the paperwork once. If you’re deployed, you can give a representative power of attorney (legal authority) to verify your identity or remove the active-duty alert for you.
As an added benefit, with an active-duty alert on your credit report, you won’t receive prescreened credit card or insurance offers for two years after placing the alert. You can also receive two free credit reports from each credit bureau the year you place an active-duty alert.
How Active-Duty Alerts Work
Once you fill out the application for an active-duty alert, it becomes harder for someone — including you — to take out a loan or apply for credit in your name. That can protect you from headaches and stress while you’re serving your country.
When a creditor sees an active-duty alert on your credit file, they’re supposed to call the phone number you provided to verify your identity before processing the application. You can easily remove the active-duty alert or change the phone number with the credit bureau where you initially filed the alert.
How Long Does an Active-Duty Alert Last?
An active-duty alert lasts for one year from the date it’s granted or until you remove it, whichever comes first. While you only have to apply for an active-duty alert with one bureau, you must remove them from all three of your credit reports individually.
However, your name stays off mailing lists for prescreened credit card and insurance offers for two years. You can also reapply for an active-duty alert after your first one expires.
If you’re a victim of identity theft, it’s better to apply for an extended fraud alert, which stays on your credit report for seven years.
How to Set Up an Active-Duty Alert
Setting up an active-duty alert is easy and free. You can do it online or by mail. The process differs slightly among all three credit bureaus, but the basic process is similar.
Choose where you’d like to file your active-duty fraud alert. Decide if you’d like to file your alert with TransUnion, Experian, or Equifax. The credit bureau you use will pass the information on to the other two.
Gather the appropriate information. You must provide your legal name, Social Security number, and address.
Submit the form. If you typically use a particular bureau to manage your credit score, use that one. Otherwise, you can use any of the three. You have the option to mail the form, use the website, or call the toll-free number.
Equifax P.O. Box 105069 Atlanta, GA 30348-5069
800-525-6285 Online
Experian P.O. Box 9554 Allen, TX 75013
888-EXPERIAN (397-3742) Online
TransUnion P.O. Box 2000 Chester, PA 19016
800-916-8800 Online
Final Word
It may not be as easy to keep tabs on your finances or review credit card statements while you’re serving. But placing an active-duty alert on your credit reports makes it harder for thieves to steal your identity or open credit cards in your name.
But you don’t have to stop there. TransUnion provides an additional service. TransUnion Active Duty Credit Monitoring offers unlimited access to your TransUnion credit report daily and emailed alerts if the service detects any significant changes to your credit report. Your subscription lasts for two years. After that, you may have to recertify your status as active-duty military.
Today’s tools make it easy for military members serving at home or overseas to keep tabs on their credit and manage their financial future. Leveraging active-duty fraud alerts, TransUnion’s credit monitoring, and financial products designed for active military members and veterans can help you save money and protect your credit as you serve your country.
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Dawn Allcot is a full-time freelance writer and content marketing expert, specializing in personal finance, technology, real estate, and insurance. Her work has been widely published across the web, including on Bankrate, The Balance, Solvable, and the award-winning Chase News & Stories portal. Dawn is, additionally, the founder of GeekTravelGuide.net, a travel, technology, and entertainment website for the geek in all of us.
There are a number of Reddit reports about Chase approving people for the new Sapphire Preferred 80,000 offer/ 90,000 offer, despite their being past 5/24. That is to say, despite their having 5 new cards showing on their credit report as having been opened within the past 24 months they were able to get approved for the new Sapphire Preferred card.
Whenever these reports have arisen in the past it usually ended up just being bad math, e.g. counting business cards or counting the half-month. But this time there appears to be a few credible reports on post-5/24 approvals. It’s unlikely that 5/24 has been eliminated entirely, but it does tentatively appear that either it’s no longer an iron-clad rule or that they’ve introduced a new variable to the rule that we aren’t yet aware of.
Here are some data points in the comments confirming: 1, 2, 3, 4, 5, 6
We reported in the past on the ‘suspension’ of the 5/24 rule for Chase INK cards for a specific time period, and then we continued to see sporadic success post-5/24 on INK cards even beyond that. This was thought to be specific to Chase INK cards, yet it now appears it might be part of a broader loosening of the rules.
Big news here, but again, even if true, it will likely only affect a small percentage of card applications. Please let us know in the comments below if you have success with this on the Sapphire Preferred card, INK cards, or any other card.
(Side note, anyone applying for the Sapphire Preferred card, please use a reader’s referral link.)
Illinois is home to Chicago, one of the most populous cities in the U.S. But whether you live in Chicago, Joliet, Carbondale, or one of the many small towns in Illinois, there’s a bank for you.
The state is home to a wide range of bank branches, from large, national banks to small lenders and credit unions. When you’re ready to shop banks in Illinois, there are several factors to consider.
10 Best Banks in Illinois
1. BMO Harris
Although BMO Harris is a regional bank, it’s headquartered in Chicago, so it has a heavy Illinois presence. The bank has been around since 1882 and has long been considered one of the best banks in Illinois.
In addition to branches in Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin, BMO Harris also offers ATM access through the MoneyPass network. They have a checking account option with no monthly maintenance fees, as well as a robust mobile banking app to manage your account.
Fees:
No monthly service fee
$15 overdraft fee
Balance requirements:
$25 opening deposit
No minimum daily balance required
ATMs:
Fee-free at 40,000+ BMO Harris and MoneyPass ATMs nationwide
$3 fee for out-of-network transactions
Interest on balance:
0.01% APY on savings
Additional perks:
Spending habit analysis available in mobile app
Competitive loan rates
2. U.S. Bank
Illinois residents looking for a national bank should check out U.S. Bank. U.S. Bank has ATMs across Illinois and the rest of the country, and a full selection of savings accounts and checking accounts, as well as an online banking option.
Currently, one of U.S. Bank’s best deals is its Bank Smartly Checking account, which pays interest on your balance and currently offers a $300 sign-up bonus. What makes this one of the best checking accounts, though, is that if you enroll in Smart Rewards, you’ll earn rewards based on your account balance.
Fees:
$6.95 monthly fee (waived with qualifying direct deposits or minimum balance)
$36 overdraft fee (waived up to $50)
Balance requirements:
$25 minimum deposit to open
No minimum daily balance required
ATMs:
Fee-free at 4,700 ATMs nationwide
$2.50 transaction fee for each out-of-network ATM
Interest on balance:
Up to 0.05% APY on Bank Smartly checking
0.01% APY on savings
Additional perks:
Automatically move up interest tiers as your balance grows
Additional rewards for seniors, children, military, and veterans
3. Chime
Chime is another online bank that operates without local branches. You’ll have everything you need in the app, with online banking features like peer-to-peer payments and an ATM locator.
You can also sign up for a Chime High-Yield Savings Account and earn interest rates of 2.00% APY on your balance. With automatic savings features, money can be automatically moved from your checking account to savings to help you set money aside for the future.
Fees:
No monthly fees
No overdraft fees
Balance requirements:
No minimum deposit to open
No minimum daily balance required
ATMs:
Fee-free at 60,000+ ATMs nationwide
$2.50 transaction fee for out-of-network ATMs
Interest on balance:
2.00% APY on savings accounts
Additional perks:
Spot Me covers up to $200 in overdrafts
Round Ups feature automatically moves money into savings
4. Huntington Bank
Huntington Bank is a regional bank with branches in Illinois, Ohio, Colorado, Florida, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, West Virginia, and Wisconsin. There are multiple tiers of checking accounts, but if you’re looking for the basics, the Asterisk-Free Checking Account is fully free with no minimum balance requirement.
Before choosing this bank, check for branches and ATMs in your area. Cash withdrawals are only fee-free at Huntington-owned ATMs. But if you’re fine with relying on mobile banking apps for all of your banking services, you’ll likely find everything you need while traveling.
Fees:
No monthly service fee
$15 per-transaction overdraft fee after balance goes $50 in the negative
Balance requirements:
No minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at more than 1,600 Huntington Bank ATMs nationwide
$3.50 fee for each out-of-network transaction
Interest on balance:
Up to 0.06% APY on savings
Additional perks:
View current account balance without logging in
Standby Cash offers quick access to credit line
5. Chase
Those who prefer a national bank might like Chase Bank, which has branches throughout Illinois, as well as 47 other states (excluding Alaska and Hawaii). New customers can qualify for a $200 bonus by opening an account and setting up direct deposit within 90 days.
There are multiple checking account options, but Chase Total Checking is the most popular. There’s a $12 fee each month, but if you’re taking advantage of the bonus, direct deposit accounts waive the fee as long as at least $500 is coming in each month.
Fees:
$12 service fee per month (waived with $500 in qualifying deposits or $1,500 daily balance)
$34 per transaction (waived with Overdraft Assist)
Balance requirements:
No minimum deposit to open
No minimum daily balance required ($1,500 to waive $12 monthly fee)
ATMs:
Fee-free at more than 16,000 Chase Bank ATMs nationwide
$3-$5 fee for each out-of-network transaction
Interest on balance:
Up to 0.01% APY on savings
Additional perks:
$200 bonus for new checking account with direct deposit
Checking accounts available for children ages 6 to 17
6. CIT Bank
CIT Bank is an online-only bank that is geared toward helping you set money aside for the future. One notable product is the CIT Platinum Savings account, which offers 4.75 APY on balances of $5,000 or more if you deposit at least $100 monthly.
But CIT is great if you’re in the market for a checking account, too. With CIT eChecking, you get one of the rare interest checking accounts that comes with no monthly fees or minimum balance. Although there are no ATMs or branches, CIT does refund up to $30 a month for non-network ATMs.
Fees:
No monthly service fee
No overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum daily balance required
ATMs:
No CIT ATMs available
Up to $30 monthly in non-network ATM fees refunded
Interest on balance:
Up to 0.10% APY on checking
Up to 0.25% APY on checking with $25,000+ balance
Up to 4.75% APY on savings
Additional perks:
Up to 1.00% APY on savings with $100 monthly deposit
Up to 5.00% APY on CDs
7. Fifth Third Bank
Another regional bank with a heavy Illinois presence is Fifth Third Bank out of Ohio. You’ll find branches in Illinois, Ohio, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.
Fifth Third Bank offers a variety of account options, but the most popular checking account is Momentum Checking, which has no monthly fee. Your checking account comes with Extra Time, which notifies you of insufficient funds so that you can avoid overdraft fees.
Fees:
No monthly service fee
$37 overdraft fee
Balance requirements:
No minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at more than 40,000 Fifth Third and MoneyPass ATMs nationwide
$3 fee for out-of-network transactions
Interest on balance:
0.01% APY on savings
Additional perks:
Identity theft monitoring available through Trilegiant for a fee
Fifth Third Extra Time notifies you of overdrafts to let you deposit money by the end of the day
8. PNC Bank
PNC is one of the larger regional banks, with a presence in 27 states, including Illinois. Currently, you can earn a bonus of up to $200 when you open a checking account and enroll in qualifying Virtual Wallet products.
Where PNC really excels is in its online and mobile banking offerings. Its checking account comes with no monthly service fees or minimum balance requirement, and Low Cash Mode lets you manage things when funds get low.
Fees:
No monthly service fees
$36 maximum overdraft charges per day in Low Cash Mode
Balance requirements:
No minimum deposit to open
No minimum daily balance required
ATMs:
Fee-free at 60,000+ ATMs nationwide
$3 transaction fee for out-of-network ATMs
Interest on balance:
2.00% APY on savings
4.30% APY on high-yield savings account
Additional perks:
$200 bonus with Virtual Wallet signup
Low cash mode helps you when funds are low
9. Ally
While there are no physical branches, Ally Bank builds everything you need into its online and mobile banking platforms. You’ll not only get a free checking account with no fees or minimum daily balance requirement, but both checking and savings accounts offer interest on your balance.
There are some activities that mobile banking can’t handle, though. Ally has you covered on those, too. You’ll have fee-free access to 43,000 AllPoint ATMs in Illinois and nationwide. One downside is that you can’t deposit cash at partner retailers as you can with some other online-only accounts.
Fees:
No monthly service fee
No overdraft fees
Balance requirements:
No minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at more than 43,000 AllPoint ATMs nationwide
Up to $10 in fees at non-AllPoint ATMs reimbursed per statement cycle
Interest on balance:
0.25% APY on checking
3.75% APY on savings
Additional perks:
Spending buckets help you budget
Access to paycheck up to two days early
10. GO2Bank
Another online banking option open to Illinois residents is GO2Bank. You can do most of your banking through their app, including mobile check deposit, online bill pay, and the ability to manage your account.
One unique thing this mobile bank offers is the ability to deposit cash at retailers nationwide. GO2Bank’s savings accounts come with 4.50% APY on balances up to $5,000.
Fees:
$5 per month (waived with eligible direct deposit)
$15 per-transaction overdraft fee
Balance requirements:
No minimum deposit to open
No minimum daily balance required
ATMs:
Fee-free at 55,000+ ATMs nationwide
$3 transaction fee for out-of-network ATMs
Interest on balance:
4.50% APY on savings accounts
Additional perks:
Earn up to 7% by purchasing e-gift cards in the app
Deposit cash at 90,000+ retail locations nationwide
Illinois has plenty of options, whether you go with an Illinois bank or one headquartered elsewhere. The best banks in Illinois combine low fees with features that make banking convenient for you. Don’t rule out online bank options, since you can easily find one with all the features you need, along with fee-free access to local ATMs.
Finding the Best Banks in Illinois
With so many options, it can be tough to narrow down the list of the best banks in Illinois. Whether you choose a local, national, or regional bank, though, it’s important to find the one that offers what you need. Here are some features to consider in your search for a new bank.
FDIC Insurance
When you turn your money over to someone else, you’ll want to make sure it’s safe. If the economy crashes or a bank fails, you won’t want to lose your money. In the U.S., the Federal Deposit Insurance Corporation covers consumers. But that coverage is limited to $250,000 in principal and interest per depositor, per account. Additionally, investment products aren’t covered, although your money market account, individual retirement accounts, and other types of savings account options likely are.
It’s also important to note that not all banks are insured by the FDIC. Whether you’re going with a large, corporate lender or opening a checking account online, research to make sure it’s FDIC insured. Also, pay close attention to limits and make sure you don’t exceed $250,000 with each account.
ATM/Branch Access
At one time, you’d have to rely on local branches and ATMs to deposit checks and withdraw cash. But thanks to tools like Apple Pay and Samsung Pay, you don’t even have to pull out your wallet to make a purchase. Still, you’ll occasionally need some cash, which is why the best banks in Illinois go beyond digital solutions.
Whether you choose a national bank or you open an account online, pay close attention to how you’ll get that help when you need it. Many online bank accounts now partner with ATM networks like AllPoint and MoneyPass to give you that option. Some let you deposit cash through local retailers for a fee.
Low Fees, Great Features
It’s easier than ever to find a checking account with no monthly fees. Even those that do charge monthly maintenance fees will sometimes waive them as long as you have your paycheck electronically deposited or maintain a minimum balance from day to day.
But as you’re researching the best banks in Illinois, it’s important to consider all the costs. If you choose a fee-free online banking option, for instance, but you’ll be paying $10 or more a month for ATMs, it might be worth it to go with one of the national banks that charge a small monthly fee.
Advantages and Disadvantages of Local Banks
National banks have a heavy presence throughout Illinois, but some of the best banks in Illinois are smaller and more community-based. Here are some advantages of going with a local bank:
May provide more personal service
Savings account interest rates may be more competitive
Might have lower rates on auto loans and personal loans
Credit score requirements can be more flexible
There are a few disadvantages, as well, including:
Online banking features might not be as developed
ATM access may be limited while traveling
May have fewer specialized accounts
Savings Accounts
It can be easy to look around for the best checking accounts when you’re planning on making a switch. But saving for the future is important, too. You might find a local bank has lower fees on checking, but a national bank offers better interest yields on its savings accounts. When the benefits outweigh the costs, it could affect your choice.
There are a few other things to consider in a savings account. Some have an initial deposit, while others require a sizable balance for their higher interest rates. Furthermore, consider how often you’ll need to withdraw funds from the account. Many savings accounts limit you to six fee-free withdrawals and transfers per statement cycle under Regulation D.
Other Products and Services
Although checking accounts and savings accounts are top priority with a bank account, there are some other things to consider. You may find the best banks serve as a one-stop shop for all your lending needs, from money market accounts to CDs to mortgage loans. You may instead be someone who prefers to bank with multiple lenders.
It’s also important to look at the payment features your bank offers. Your bank account will likely come with a debit card. Can you earn rewards for using it? If your Illinois bank has credit card options, check for perks, rewards, and APR with those as well. Some financial institutions offer bonuses for new accounts or credit card sign-ups, and that can be another way to cut costs with a new bank.