Apple Card Savings Account Receives Another Interest Rate Cut

It’s still much better than a traditional savings account for parked funds.

This rate cut is expected.

If you have trouble managing money and need to move it to a savings account as a middle ground this is better than nothing.

But honestly savings accounts are a ripoff IMO, I've yet to see one that has a rate that can stay ahead of that periods current inflation. I'm comparing any historical month inflation vs that months savings account rates, not the long term averages. It can slow the bleeding of actively losing money but that's about it. I'm also convinced the federal posted inflation rates are very flawed data, on purpose because it suits politically. Get your real inflation data elsewhere based off of what YOU buy.

I don't like it but you pretty much have to have your money in the market somewhere to stay ahead of inflation. If you need to get your money out it generally only takes a couple days to sell something in your money market account and ACH transfer to checking.

Even though the Goldman / Apple relationship is coming to the end, I hope it serves as a model for the future. Apple handling marketing and UX for banks is a good idea.

If you have trouble managing money and need to move it to a savings account as a middle ground this is better than nothing.

But honestly savings accounts are a ripoff IMO, I've yet to see one that has a rate that can stay ahead of that periods current inflation. I'm comparing any historical month inflation vs that months savings account rates, not the long term averages. It can slow the bleeding of actively losing money but that's about it. I'm also convinced the federal posted inflation rates are very flawed data, on purpose because it suits politically. Get your real inflation data elsewhere based off of what YOU buy.

I don't like it but you pretty much have to have your money in the market somewhere to stay ahead of inflation. If you need to get your money out it generally only takes a couple days to sell something in your money market account and ACH transfer to checking.

I don't think having a portion of your money in a savings account indicates you have trouble managing money. In fact, I believe its a good idea to keep emergency funds in a high yield savings account so that you *don't* have to sell off investments at a time when the market may or may not be doing well.

If one doesn't have enough money for both a savings account and investments then a savings account with emergency funds is the first priority in fact.

If you have trouble managing money and need to move it to a savings account as a middle ground this is better than nothing.

But honestly savings accounts are a ripoff IMO, I've yet to see one that has a rate that can stay ahead of that periods current inflation. I'm comparing any historical month inflation vs that months savings account rates, not the long term averages. It can slow the bleeding of actively losing money but that's about it. I'm also convinced the federal posted inflation rates are very flawed data, on purpose because it suits politically. Get your real inflation data elsewhere based off of what YOU buy.

I don't like it but you pretty much have to have your money in the market somewhere to stay ahead of inflation. If you need to get your money out it generally only takes a couple days to sell something in your money market account and ACH transfer to checking.

Theres some good advice here but the challenge for most people is that money in the markets needs to be actively managed. It’s not difficult but it’s not a passive thing. If you’re like me, you can hire a professional but they take a cut of your gains.

You also need to be able to tolerate down cycles. I had 7-figure paper losses in the last market crash. They have all since recovered and then some, but it hurts to see the values so low when the market has a downturn.