Banks for You!

You’re a new parent, you’re looking for a name for you new son. What better idea than to carry on the family name than to name your son after you. So little Johnny Jr. is born and you live a life of blissful pride as you watch your namesake grow and mature. “What a beautiful and enduring legacy we have created, right dear?” WRONG!

The problem is the credit reporting bureaus are extremely automated and if a name that is very similar and has other similar characteristics, such as a common address, their credit information is very easily mixed up and blended together.

So the problem is also when either Jr. or Sr. goes to the bank to get a loan and the loan officer is mentioning vehicle repossessions, charge off accounts, and other very damaging lines of credit, much to the dismay of the person who is applying for the loan, they exclaim to the loan officer, “That’s impossible! Those were my [dads/sons] accounts! How can they possibly be on my credit?”

The problem is because of the automation in the credit industry, it is very easy for similar names to be mixed in with similar credit reports, usually damaging one or the other’s credit history. Unfortunately,

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Do you have a concern over your job? Are you worried that you may end up with some expensive medical bills in the future? Always being prepared is one of the best things that you can do. It is important that you prepare yourself financially for any situation that may arise. Having an emergency savings account is one of the best things that you can do in order to protect yourself from debt. There are several different accounts you can choose from in order to invest your money wisely.

An online savings account typically comes with higher interest rates than what you can find with your local bank. The best online banks will be able to provide you with 24/7 access with low or no monthly fees. ING Direct is one of the best online banks to work with as they offer Orange Savings Accounts. These accounts pay a higher interest rate and they are incredibly easy to use. ING Direct also offers a number of different account options that you can choose from, making it easy to manage all of your money with one bank.

Similar to an online savings account, the best rates are traditionally found online.

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This is a Virginia Heritage Bank CD rates January Review, 2012 that is happy to announce there were no more reductions in the CD rates being offered the public. This allows for more consistency when you are investing your money with this financial intuition.

The minimum deposit for opening a certificates of deposit account is $500.

The current bank CD rates include the 3 month CD that is earning an APY of 0.35%. The 6 month CD is earning an APT of 0.35%.

The 9 month CD is earning an APY of 0.50%. The 1 year CD is earning an APY of 1.00%. The 18 month CD is earning an APY of 1.15%.

The 2 year CD is earning an APY of 1.20%. The 30 month CD is earning an APY of 1.25%. The 3 year CD is earning an APY of 1.55%.

The 4 year CD is earning an APY of 1.75%. The best CD rates are from the 5 year CD that is earning an APY of 2.00%.

There is also IRA CDs being offered by the Virginia Heritage Bank and are slightly better than the standard CD rates. The minimum deposit amount is still at $500. The current IRA CD rates include the 3 month CD that is earning an APY of 0.40%.

The 6 month CD is earning an APT of 0.40%. The 9 month CD is earning an APY of 0.55%.

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If you’re a little wary about investing your money on a long term CD but would like to take advantage of high interest rates just the same, you might want to try mid-term CD deals instead. One CD deal, in particular, would probably spark your interest. This one is being offered by Central Bank in Tampa Florida. It has a 1.15% APY and an 18-month term. Both the interest rate and the term, in this case, is ideal. That’s a very competitive rate for a CD which runs for less than two years.

The bank’s two-year CD is not as competitive. However, it is also a good deal. Central Bank in Tampa, Florida is currently offering their 24-month CD with a 1.25% APY. If you can extend your investment for six more months, and you would like to take advantage of the added 0.10% yield, go ahead and choose this one Instead.

The minimum deposit for both CD deals is a bit steep. You will need $2,500 to continue enjoying these interest rates. CD interest rates have also been falling since December 2011, so it will do you good to take advantage of these still fairly decent Certificate of Deposit rates before they take a dive again. These

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A money market account can be a good option if you are building an emergency fund and need to earn interest while keeping your money safe and accessible.

One of the best money market accounts around in terms of simplicity and interest earnings is the Sallie Mae Money Market Account. Sallie Mae, known best for its student loan products, also offers online-only personal bank accounts. The bank’s money market account has no minimum balance requirement and no monthly maintenance fee. All account balances, no matter how large or small, earn 1.00 percent APY and all funds are FDIC-insured to the maximum limit of $250,000 per depositor.

Compare money market account rates and terms to find the best deal for you.