Skip to main content
No. of Recommendations: 0
Unless my eyes are failing which is possible, Bankrate listed a 1 year CD at Charter One Bank with an 3.4-something APY for part of a day last week.

The rate changed to 3.25 APY by the time I called. Charter One is FDIC insured and has 450 branches in Illinois, Massachusetts, Michigan, New York, Ohio, and Vermont. I suppose they are as safe as anywhere. Despite overwhelming call-in response, the guy on the phone was efficient and nice. The certificates arrived within a week by mail. The only down side is I am not sure from the booklet they sent what the early withdrawal penalty is for this type of CD and I don't care about that in this case. I am happy and lucky to have what I got.

Charter One's Bankrate rating changed from three arrows to unrated "U" since then, and the APY dropped to 2.90. I guess the lesson in this story is that Bankrate's CD listings can change fast, both up and down.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.