Dave Ramsey, Melissa, American Express Bank discussed on Dave Ramsey
I'm Dave Ramsey. Your host. This is your show because it's all about open phones as we talk about you right in front of you will phone number this triple eight eight to five five two two five that's triple eight eight to five five two two five Melissa is with us in college station, Texas to start off this hour. Happy new year, Melissa how are you? I'm good. Are you do? Are you Dave better than I deserve? What's up? Okay. I am just have a question. So my husband, and I are getting ready to start saving for a down payment on a house. Good, and I was looking at the money market rate with our credit union, and it's point two five percent. Like money market rates had higher percentages. I found some out there, but they're like bigger banks like one of them that came up with like American Express Bank and whatnot. Do you suggest why just stick with what the credit union offers or is it? Okay. If I go outside of the credit union to find higher interest rate. Does it really matter? Well. Here's the thing. Okay. How much money are you talking about saving and over what period of time? Oh, goodness. It's probably going to be probably like. Fifty thousand in the next two or three years. Okay. So one percent on fifty thousand is five hundred dollars. That's true. A half a percent. Difference is two hundred fifty dollars. Yeah. That's what we're talking about here. So I would number one. I e did you talk the credit union and in person or did you just look at their website? I went to their website. Okay. I'd call the manager and just go. Hey, you know. American Express CIT. They've got these things on their site. That's like one percent. And you guys are like at a quarter. What's the problem because credit unions are supposed to be better than banks and just kind of give him a hard time? Wink, wink, right with a smile on your face, right? And see what you get out of that. I do that periodically with my hometown Bank. And I get my rate up. Doc got a little more than fifty thousand in there. I'm not exactly jed clampett with Mr. garage sale or something here. But it's. But at least you could just mess way. Right because they might have something that's not showing on their website. I'm trying to save for a house, and I need to get around one percent on my money. And I'd like to keep it here in town with the credit union. I don't really want to send it to New York. But you know, you're going to have to help me out here and just mess with them a little bit shop around your local area. But I wouldn't spend a thousand dollars worth of my time trying to make a hundred bucks, right? Okay show. Just kinda I'm probably gonna keep it around town there somewhere..