I would go with a high yield savings account that has a good bonus, even if they have a slightly lower rate. The 3 that I know of right now that have decent bonuses are Capitalone 360 ($200?), Discover Bank ($200?) and Simple Bank ($250?). These all require depositing at least $10K. They may be off by a few 1/10ths of a percent from the best rates out there, but bonus far makes up for that. Personally, I love My Capitalone 360 MM account, but I recently switched to Simple to get the next bonus (this one has way more hoops to jump thru).
is it a one time bonus? are there any requirements to get that bonus or fees?
I will take a look at those when I get a chance, so they are money market? is it hard to get money out? since this is my emergency fund I would need to get at it within a day or 2 preferably
Comenity direct is giving 2.49% for savings accounts and 2.5% for CDs with very low minimums. I too am distressed about Ally bank lowering their rate (I get it's because of the Fed rates moving but still) and then have the gall to say they're still 10X better than the "average" bank. So my biggest savings account is moving to Comenity.
I had the same reaction, Ally have all the advertising about how other banks are stealing from you by giving less of a percentage, then they do this, confusing messaging
Does Comenity have any transaction requirements? or caps?
I am running into a lot of places that have high rates (3-3.3%) but you have to use their debit card and have a certain amount of bill pays/transactions per month or you end up paying a fee, which drastically brings down the actual percentage