If the Fed raises their rate like they did within the last month, is it expected that a bank will increase the rate on their max rate CDs? At what point should a CD rate go up?
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Bank CD rates
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Last: 9 hrs ago by Aggie09Derek
The rate would go up, but as it stands today, 83% of projections have the Fed holding the 3.75-4% rate.
I'm wondering just how long Elon's X Bank will continue paying 6% interest. Sure, you've got to pay a little on the side to be a premium X subscriber, but still.
Everyone says it's a loss leader and he can't continue paying that much, but I'm starting to think it's worth a shot to park some cash. Certainly no T-bills or bank CDs are paying that.
Everyone says it's a loss leader and he can't continue paying that much, but I'm starting to think it's worth a shot to park some cash. Certainly no T-bills or bank CDs are paying that.
Moved my 3.5% Marcus to Elon's 6% yesterday.
Too easy not to.
Also trust Elon's security more with all the AI.
Too easy not to.
Also trust Elon's security more with all the AI.
Red Fishing Ag93 said:
Moved my 3.5% Marcus to Elon's 6% yesterday.
Too easy not to.
Also trust Elon's security more with all the AI.
Thanks for sharing that, as most of the folks I know aren't even aware of it.
I've got stuff with Marcus and with Sallie Mae and am thinking of transferring.
Now, if Elon pulls a stunt where he pays 6% to suck you in, but drops it to 2.5% after 4 months, I won't be amused. You probably won't be either.
Ribeye-Rare said:Red Fishing Ag93 said:
Moved my 3.5% Marcus to Elon's 6% yesterday.
Too easy not to.
Also trust Elon's security more with all the AI.
Thanks for sharing that, as most of the folks I know aren't even aware of it.
I've got stuff with Marcus and with Sallie Mae and am thinking of transferring.
Now, if Elon pulls a stunt where he pays 6% to suck you in, but drops it to 2.5% after 4 months, I won't be amused. You probably won't be either.
Name me a bank that doesn't do that? Paying 6% is not sustainable. Dividend paying stocks are way safer. Not to mention more profitable.
It's too easy to move it again, if needed.
Elon's a different kind of cat, so we'll see even on this.
Hadn't thought about emergency type money in dividend stocks.
Elon's a different kind of cat, so we'll see even on this.
Hadn't thought about emergency type money in dividend stocks.
I'd be careful calling dividend stocks safer, especially for emergency money. A stock can pay a 5% dividend and still drop 20%, and the dividend can be cut too. Earning a few points less interest at the bank is different from losing money you might need next month.
6% won't be sustainable, but its FDIC insured up to the $250k so it is in fact significantly "safer" than a dividend that can be at the mercy of the market.
All HYSA's adjust their rates, sometimes significantly. It won't be shocking when Elon's does as well.
All HYSA's adjust their rates, sometimes significantly. It won't be shocking when Elon's does as well.
Proposition Joe said:
6% won't be sustainable, but its FDIC insured up to the $250k so it is in fact significantly "safer" than a dividend that can be at the mercy of the market.
I have no doubt the 6% is not sustainable, but the question is how much 'loss leading' is Elon willing to endure before he pulls the plug. I'm not ashamed to admit he has a few more assets than I do to support 'loss leading.'
As for the FDIC insurance, here is what Gemini offers up:
Quote:
X Money itself is not an FDIC-insured bank. Instead, X Payments LLC is a financial technology (fintech) company and licensed money transmitter. However, your funds are FDIC-insured through its partner bank:
- Partner Bank: Your deposit accounts are held at Cross River Bank, which is an FDIC-insured member bank.
- Standard Coverage: Funds are insured up to $250,000 per depositor, per ownership category, in the event that Cross River Bank fails.
- Cash Sweep Program: Deposits can be automatically enrolled in a sweep program that spreads funds across a network of partner banks, offering up to $10 million in aggregate pass-through FDIC coverage.
- The Limitation: FDIC insurance only covers the failure of the underlying insured bank (Cross River Bank), not X Payments LLC. If X Money's app or internal systems experience an outage or freeze, standard FDIC insurance does not protect against technical or operational failures outside of the bank itself.
OldArmyCT said:Ribeye-Rare said:Red Fishing Ag93 said:
Moved my 3.5% Marcus to Elon's 6% yesterday.
Too easy not to.
Also trust Elon's security more with all the AI.
Thanks for sharing that, as most of the folks I know aren't even aware of it.
I've got stuff with Marcus and with Sallie Mae and am thinking of transferring.
Now, if Elon pulls a stunt where he pays 6% to suck you in, but drops it to 2.5% after 4 months, I won't be amused. You probably won't be either.
Name me a bank that doesn't do that? Paying 6% is not sustainable. Dividend paying stocks are way safer. Not to mention more profitable.
It looks like this has been partially addressed already, but the bolded section above is flat out false!
Especially if it's emergency fund money or cash needed soon or at some predetermined time, dividend-paying stocks are MUCH more volatile, and have very real downside price risk, not to mention default risk and reinvestment risk. There is no world where these are safer than FDIC-insured accounts.
Don't get me wrong - if it's buy-and-hold investing for the longer term or retirement money, there certainly are many places for an allocation of dividend-paying stocks, but as always, you need to match your money to its' intended use.
Ribeye-Rare said:
I'm wondering just how long Elon's X Bank will continue paying 6% interest. Sure, you've got to pay a little on the side to be a premium X subscriber, but still.
Everyone says it's a loss leader and he can't continue paying that much, but I'm starting to think it's worth a shot to park some cash. Certainly no T-bills or bank CDs are paying that.
I out quite a bit in there and transferred my company direct deposit to get the 6% instead of paying for premium plus.
With that said, I may end up getting whatever the package is that includes grok bot agents so it may end up being a wash anyways.
I also bought a car with my X card. Still pending but I hope I get my 3% cash back on that.
Four accounts successfully moved.
Gork bot agents are awesome.
I have 8 or 9 of them and seem to add another each day.
I have 8 or 9 of them and seem to add another each day.
Red Fishing Ag93 said:
Gork bot agents are awesome.
I have 8 or 9 of them and seem to add another each day.
I plan on setting some up when I get home. What level subscription do you have and do you ever run out of tokens?
I use it all day for work in addition to personal, so I'm a bad case study. I'm running at the 200/month. It's probably worth triple that or more for me. I ran out at the 50/mo.
I think the cheapest is 10 or 20 per month. You can get a lot done with that.
I think the cheapest is 10 or 20 per month. You can get a lot done with that.
Question if anyone knows - do you just upgrade your X account and you get invited to X Money? Still randomly rolling out? Wondering if it's automatic.
It should be rolled out widely to premium subscribers at this point. You get 4% back at that level unless you direct deposit your paycheck with them, then it's 6%. Or get premium plus subscription and it's 6% automatically.
𝕏 has just announced that starting on December 1, 2026, accounts that are eligible to earn 6% APY with 𝕏 Money will earn that rate on the first $150,000 of deposits. Any amount greater than $150,000 will earn 4% APY.
— Sawyer Merritt (@SawyerMerritt) October 31, 2026
In addition, ATM operator fees will be reimbursed up to $4… pic.twitter.com/hRrX5zR2C3
Drats! I received the invite for the X Money a week ago and $250k just deposited! Ugh!
LeftyAg89 said:
Drats! I received the invite for the X Money a week ago and $250k just deposited! Ugh!
Quote:
They say that all good things must end.
- Willie Nelson / The Party's Over
Still, that's $3 grand over and above the 4% on the first $150K, which will buy a Kyle Field taco or two.
If he can continue to hold it a half a point over the big guys' 3.5% rates, it's probably still worth fooling with.
Now, to just get off my ass ...
I just bought a used Tesla with my card and got 3% cash back. Going to get a credit union loan at 3.49% for it so I can earn 6% on that money. Incredible double dip.
where can you buy a car with a credit card?
Crown Toyota in LA, apparently.
But the truth is it is labeled as a debit/flex card. Put $25k down, this is what is pending.
But the truth is it is labeled as a debit/flex card. Put $25k down, this is what is pending.
Aggie Athlete Involved said:
Question if anyone knows - do you just upgrade your X account and you get invited to X Money? Still randomly rolling out? Wondering if it's automatic.
Got a random invite yesterday. Most basic free account possible that I glance at maybe once a month. Weird.
Yet, now it has me looking at it...
Eliminatus said:Aggie Athlete Involved said:
Question if anyone knows - do you just upgrade your X account and you get invited to X Money? Still randomly rolling out? Wondering if it's automatic.
Got a random invite yesterday. Most basic free account possible that I glance at maybe once a month. Weird.
Yet, now it has me looking at it...
Do it
Moved some $ from Marcus over
2.5% more on first $150k is a no brainer
Super easy to do via plaid.
2.5% more on first $150k is a no brainer
Super easy to do via plaid.
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