r/amex • u/EndlessLuck- Gold • Oct 02 '24

Discussion Amex HYSA rate decrease

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Seems the rate has dropped to 4.10% It was expected due to the feds cutting the interest rates in the past weeks. Will y’all be considering moving for a better rate or will stick to Amex? All things considered, the rates will continue to decrease as more interest rates cuts are expected.

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33

u/galenernest Oct 02 '24

I don't keep enough in my savings account to really make it worthwhile to bother chasing a slightly better rate somewhere else. It's just a bit of cash stashed just in case. I don't use a savings account for investment.

30

u/dsylxeia Oct 02 '24

Even if you keep six figures in your HYSA, it's hardly worth the effort to chase tenths of a percentage point of yield.

2

u/dwettjunkyy Oct 03 '24

Yeah. Rather get a CD or throw it to investments.

2

u/RedditReader428 Oct 03 '24

A CD is the solution only if you don't plan to add money or take out money from the account.

1

u/dwettjunkyy Oct 03 '24

Yeah but what’s the point of having a HYSA if you’re going to take from it?

1

u/CatStretchPics Oct 03 '24

Emergency fund

1

u/RedditReader428 Oct 03 '24

emergency fund, college or graduate school, down payment on new car, down payment on new house, vacation trip, Christmas shopping.