Great Analysis. Thanks.
This whole program is sort of like how TD offers free debit transactions in youth accounts, and adult accounts with a student plan. This encourages young people to make all their transactions debit transactions, or at least as many as possible. When I was a student, I kept minimal cash in my wallet and used my debit card on almost all of my purchases, even tiny ones. After I graduated, and the student fee plan on my account expired, I got a rude awakening in the form of debit transaction charges.I do not understand Robillard's point. You'r making automatically 10% and you're worried about saving accounts not paying high interest?
They have what's called GIA account, it seems there would be no additional fees and could just go for a year and at the end withdraw my $2000 with $200 in interest. Does that make sense? It does to me unless there's something I don't know. I do have a checking account with them already.
Thanks
You make 10% return on credit card purchases? Or your return of $200ish is similar? If it's the former, sign me up!Interesting product, and discussion on it, Thanks.
It seems pretty close to the return my wife and I get by using our credit cards, to earn the points and never carrying a balance on them, Except it's more forced savings, which I love... Something to think about.