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Growth Rapidly is a personal finance blog, intended to help you save money, make money, and build wealth. Our articles and financial tools are there to assist you to make the best financial decisions, including buying a house, choosing a financial advisor, etc

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  • How to Dispute Your Transunion Credit Report - GrowthRapidly
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    Chase Credit Journey: Check Your Credit Score For Free

    Chase Credit Journey is one of the many credit monitoring services that gives you a credit score for free. Launched by Chase, Credit Journey also monitors your score and gives you advice on to improve it. One of the best ways to get approved for a loan or a credit card is to have a … Continue reading "Chase Credit Journey: Check Your Credit Score For Free" The post Chase Credit Journey: Check Your Credit Score For Free appeared first on...

    Chase Credit Journey is one of the many credit monitoring services that gives you a credit score for free. Launched by Chase, Credit Journey also monitors your score and gives you advice on to improve it.

    One of the best ways to get approved for a loan or a credit card is to have a good credit score. Think of this 3-digit number as a representation of your credit worthiness and credibility.

    In fact, lenders use your credit score to see how risky it is for them to let you borrow.  The higher your score, the better.

    So,  it is very important to use a free tool like Chase Credit Journey, to know your credit score before applying for a loan, a credit card, or an apartment.

    Doing so will give you an idea whether or not you will be approved or denied.

    One way to get a credit score for free and monitor it is through Chase Credit Journey. If your credit score is excellent, then you are all good.

    All you have to do is maintaining it. If it’s bad, then you can take steps to raise your credit score.

    In this article, we will address what Chase Credit Journey is, why you should use it, and some of its limitations.

    What is Chase Credit Journey?

    Chase Credit Journey is a free online service offered by Chase that gives consumers a credit score and credit report for free. You don’t have to be a Chase customer to use the service.

    You’ll need to register by entering personal information, including your credit cards information, existing loans, etc.

    Checking your credit on Chase Credit Journey does not hurt your credit score, because it counts as a soft credit inquiry. Soft inquiries, as opposed to hard inquiries, leave your credit score untouched.

    In addition to getting a credit score from Chase Credit Journey, you can get one from the following credit monitoring services all for free:

    How Does Credit Journey Work?

    Chase Credit Journey uses Experian, one of the three credit bureaus, to give you a credit score and report.

    Chase Credit Journey uses the VantageScore 3.0 model, which is a collaboration from the three credit bureaus.

    Your score is updated weekly but you can access it as much as you can and anytime you want.

    Also, you can sign up for credit alerts through Credit Journey which can notify you if your score changes or if something suspicious is happening on your credit file.

    If there are errors, Chase Credit Journey will guide you on how to file a dispute with the credit bureaus. You can’t get your FICO score via Chase Credit Journey.

    In addition to getting a free credit score, you also get an analysis of your score and advice on how to raise it and other free resources. This way you can take steps to improve your credit score

    If you’re ready to give Chase Credit Journey a shot, go online to the homepage to see how Credit Journey works.

    You can also access the Chase Credit Journey through the Chase mobile app as well.  If you’re not convinced yet, keep reading.

    Chase Credit Journey helps you understand the 6 factors to come up with your VantageScore credit score. They are:

    1) Payment history (or late payments): payment history accounts for 35% of your total credit score. In fact, it is the most important factor in your total credit score. Late or missed payments can negatively affect your credit score.

    2) Credit utilization ratio (or credit usage): Credit utilization is how much of your credit limit you’re using versus your balance. Credit card utilization accounts for 30% of your total credit score. So keeping it low is ideal. Keeping your credit card balance under 30% is the way to go. For example, let’s suppose your credit card has a credit limit of $5000. You have used $2500 of that credit. Then your credit utilization is 50%. To keep it below 30%, you should only use $1500 of that credit.

    3) Credit age: The third most important factor of your total credit score is your credit age. That means how long you have had credit. Lenders like to see a longer credit age. In your credit report, you’ll be able to see your average credit age.

    4) Hard Inquiry: The higher your credit inquiries, the lower your credit score can become. Anytime you apply for a loan or a credit card or when a landlord checks your credit, it can cause a small dip in your credit score. So multiple credit inquiries can hurt your credit score rather than improving it.

    5) Total Balances: total balances refer to the amount owed over all of your credits, including your mortgage, student loans, credit cards, personal loans, etc.

    6) Available credit: This factor represents the current amount of unused credit you have over your accounts.

    Chase Credit Journey best feature: the score simulator

    In addition to providing you a free credit score and report, a credit alert, and credit resources, Chase Credit Journey has an invaluable feature called the score simulator.

    The score simulator gives you an estimate of how certain changes in your credit behavior can affect your credit score. Those changes include missing a payment, card balance transfer, and closing an old account, etc.

    The importance of checking your score via a free credit service like Chase Credit Journey

    Your credit score is perhaps the first thing lenders look at to decide whether to approve you for a loan or credit card. The better your score, the higher is your chance of getting that loan.

    On the other hand, if you have a bad credit score, getting a loan or a credit card not only can prove very difficult, but applying for it puts a hard inquiry that can actually lower your already bad credit score.

    So knowing your score before you actually apply will give you an idea whether lenders will approve you. It will also allows you to apply for credit with confidence. That’s why is important to use a free credit service.

    Additionally, checking your credit score and credit report on a regular basis will help you identify what is on your credit report. Outstanding debts and a history of late payments can directly impact your credit score.

    You can get your credit report for free by logging on AnnualCreditReport.com from each of the three credit bureaus. But these credit reports do not give you a credit score. Moreover, you get these reports only once every year.

    While there are several options, Chase Credit Journey is just another option. It’s never a bad idea to have several options to choose from.

    In other words, it’s better to get your score from more than one source. However, there are some limitations to using Chase Credit Journey.

    Chase Credit Journey Limitations

    One of the limitations Chase Credit Journey has is that it only uses one of the three major credit bureaus, which is Experian. When you get your score from only one credit bureau, you might not see the whole picture.

    So, your credit score might not be entirely accurate.

    For example, let’s say you transfer a credit card balance to a new credit card. If Transunion and Equifax are the only credit bureaus that recorded the card was closed during the transfer, you credit score might drop, because Experian recorded you opened a new card.

    Another disadvantage of Chase Credit Journey is that the VantageScore’s scoring model is not the industry standard. Most companies use FICO scores to decide whether to approve or decline you for a loan or credit.

    And while VantageScore and FICO scores range from 300 to 850, the two models use different criteria in coming up with your credit score. In other words, each model weighs the factors differently in calculating your credit score.

    So your Chase Credit Journey credit score might be different than a FICO score. So, if you are ready to apply for a loan, find out which actual credit score your lender will use to improve your chance of approval.

    The Bottom Line

    Chase Credit Journey provides free credit scores and reports from Experian. The scores are updated weekly. The free credit score is based on the VantageScore 3.0 model.

    However, while VantageScore’s system is accurate, it is not what most companies use. But one important thing about Chase Credit Journey is that it one other free tool that allows you stay proactive and monitor your credit on a regular basis. In turn, it allows you to know your score before applying for credit.

    Speak with the Right Financial Advisor

    You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

    The post Chase Credit Journey: Check Your Credit Score For Free appeared first on GrowthRapidly.


    How Accurate Is Credit Karma? 3 Things To Know

    You have probably heard of Credit Karma before. They are a credit monitoring service that gives people credit scores for free. But how accurate is Credit Karma? This question is worth asking. After all, your credit score is one of the most important factors in your financial life. In fact, lenders assess your credit score … Continue reading "How Accurate Is Credit Karma? 3 Things To Know" The post How Accurate Is Credit Karma? 3 Things To Know appeared first on...

    You have probably heard of Credit Karma before. They are a credit monitoring service that gives people credit scores for free. But how accurate is Credit Karma? This question is worth asking. After all, your credit score is one of the most important factors in your financial life.

    In fact, lenders assess your credit score anytime you’re applying for a home loan or personal loan, renting an apartment, applying for a credit card. You get the idea! Lenders use that 3-digit number to determine the potential risks your might face in case you’re unable to meet your credit obligations.

    To illustrate this better, think of your credit score as a representation of your credibility as a borrower. The higher your score is, the better your chance of getting approved and lenders are more inclined to offer you competitive interest rates. On the other hand, if your score is low, do not expect to get good news. That’s why it’s important to learn how to raise your credit score.

    So, it’s important to know if the credit score you’re getting from Credit Karma is accurate and not just some number that they throw out there. If you are wondering, do not fret just yet. Fortunately, there are ways to know if Credit Karma is indeed accurate.

    To understand how accurate Credit Karma is, you need to know how they make money?

    Before delving at how accurate Credit Karma is, we need to understand how the company makes money. While Credit Karma gives free credit score, it is a for profit company. This means that its purpose is to make money. So the catch is, they earn a commission anytime your purchase or sign up for loan products or credit cards through their site.

    That’s why on occasions you may receive emails from them urging you to check your score. When you check your score to their site, you often see, along with your score and credit reports, advertisements, credit card and loan offers. The hope is that you click on them and apply. If you do, they earn a commission.

    Is Credit Karma accurate?

    Now that you have an idea how Credit Karma makes money, it’s time to know whether the credit scores they give to people are an accurate representation of their creditworthiness.

    Given that Credit Karma makes money when people comes back to their site and use the recommendations they offer, it is in their best interest to give you an accurate credit score. They are also transparent and a safe and legit company.

    But the most important way to know for sure if the score from Credit Karma is legitimate and accurate is to know of the sources they get credit information. For one, Credit Karma is not a credit bureau. It’s a free credit monitoring services that makes credit bureau’s information available to you.

    Your credit scores and credit reports from Credit Karma comes from TransUnion and Equifax, two of the three major credit bureaus. Their update your score weekly. You don’t need a credit card to sign up. It’s totally free.

    Credit Karma uses the VantageScore 4.0 model

    Credit Karma uses the VantageScore 4.0, which is an accurate model. The VantageScore use a credit score range of 300 to 850. This scoring system looks at your credit history, credit usages, balances, etc. These three factors carry a lot of weight in calculating your score.

    This system also look at credit mix and experience, which are highly influential. However, payment history is not that influential. Lastly, credit age and credit inquiries carry less weight. You also receive a free credit report from Transunion and Equifax.

    So, because Credit Karma is a trusted online platform and uses a legitimate and trusted Vantagescore system, the score you get is pretty accurate.

    Credit Karma only relies on TransUnion and Equifax

    Because Credit Karma only uses two of the three major credit bureaus, an individual’s credit score might not be entirely accurate. For example, let’s say you transfer a credit card balance to a new credit card.

    If Experian is the only credit bureau that recorded the card was closed during the transfer, you credit score might drop, because the other two bureaus recorded you opened a new card.

    Credit Karma does not provide FICO scores

    Credit Karma does not provide FICO scores. The FICO score model uses a different algorithms than the Vantage score to arrive at a credit score. However, FICO Score is the most popular credit score lenders and creditors use.

    In fact, according to a 2018 report, 90% of U.S. lenders use FICO Scores to make a decision. FICO scores are based on information collected on the consumers from the three major credit bureaus. Like the VantageScore, FICO score ranges from 300 to 850. 300 being the lowest credit score. 850 being the highest credit score you can get.

    They consider your payment history, credit utilization, credit age, credit inquiries and credit mix. So, because the FICO scoring system weighs these various factors differently than the VantageScore model, a credit score from Credit Karma which relies on the VantageScore might not entirely be accurate.

    Additionally, based on reviews from ConsumerAffairs.com, some people are reporting that their Credit Karma credit score is a little bit higher than their FICO scores. Whether or not that is true is debatable.

    The bottom line…

    So is Credit Karma accurate? The answer is yes, but there some limitations. Credit Karma uses Vantage 4.0 system, which is pretty accurate. One thing to note, however, is that Credit Karma does not provide Experian or FICO credit scores.

    But it recommends financial products and makes money when you sign up or open an account with the advertising partners through the Credit Karma website. So before you apply for a loan or credit, it’s important to know which model the lender is using. That will greatly increase your chance of getting approved.

    Speak with the Right Financial Advisor

    If you have questions about high interest savings accounts, you can talk to a financial advisor who can review your finances and help you reach your goals. Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

    The post How Accurate Is Credit Karma? 3 Things To Know appeared first on GrowthRapidly.


    How to Get a Chase Debit Card Replacement

    If you lose your chase debit card by any chance or if it was stolen, you can request a replacement very easily. But one thing you cannot do anymore is to just go to a Chase branch in your neighborhood and request a replacement card. While it was convenient, Chase discontinued that method due to … Continue reading "How to Get a Chase Debit Card Replacement" The post How to Get a Chase Debit Card Replacement appeared first on...

    If you lose your chase debit card by any chance or if it was stolen, you can request a replacement very easily. But one thing you cannot do anymore is to just go to a Chase branch in your neighborhood and request a replacement card. While it was convenient, Chase discontinued that method due to fraud.  We’ll show you how you can replace your chase debit card in 3 other ways.

    Note that if you card is about to expire, there is no need to request a replacement card. Chase will automatically send you a new card during the month your current card will expire. The main reasons to request a card are if your card has been stolen, lost, or damaged.

    Three Simple and Easy Ways to Request a Chase Debit Card Replacement:

    1. Do it online at Chase.com

    The first way to request your Chase debit card replacement is to do it online.

    1. Go to Chase.com to sign in. 2. Once you are on the homepage, click on the “More…” options. 3. Then, click on “Account Services.” 4. Then, click on “Replace a lost or damaged card.”

    After you have completed all these steps, the new window will ask you to choose a Chase debit card that you need to replace. It also ask you to choose a reasons why you need to request a Chase debit card replacement.

    The three main reasons you will notice on the drop down menu are: 1) my current cards needs to be re-issued; 2) My card is lost; 3) My card wasn’t received.

    Once you have chosen a reason for replacement, review and submit your request. You should receive your card in 3-5 business days. If you don’t receive your card after five days, call Chase customer service using the number on your statement. 

    2. Replace your Chase Debit Card by calling customer service.

    Another way to order a Chase debit card replacement is through telephone. Using the Chase customer service is available 24/7. So you can call immediately, especially if you think your debit card was stolen.

    The telephone number to call is 1-800-935-9935. If your credit card that is lost, damaged or stolen, the right telephone number is 1-800-432-3117.

    3. Replace your Chase debit card is through the Chase Mobile app.

    Lastly, the third way to replace your Chase debit card is through the Chase Mobile app.

    If you have installed it on your phone, this should be very easy and straightforward. Right from your phone, follow these steps:

    1) After you login into your Chase Mobile app, tap on the debit card or credit card you want to replace. 2) Scroll down to find “Replace a lost or damage card.” 3) Then, choose the card you want to replace and then choose a reason for replacement. 4) Review your request and submit it.

    Simple and done!

    In conclusion, if you think you need a Chase replacement card, request it either from the Chase Mobile app, sign in to chase.com, or call the 800 number. It’s easy and you can request it in under 5 minutes. But one thing you cannot do is visiting your local branch and request one instantly. Chase will not replace your debit card at any of its locations. You’ll have to use the three methods outlined above.

    Related:

    The post How to Get a Chase Debit Card Replacement appeared first on GrowthRapidly.


    Rakuten: Earn Up To 40% Cashback + $10 Sign Up Bonus

    Rakuten cashback can help you save money when shopping online! Most of us shop online anyway; wouldn’t it be nice to get some cash back along the way? Currently, Rakuten offers up to 40% cashback on your purchases. Plus, you receive $25 referral bonus and a 10$ bonus when you sign up.   Keep reading … Continue reading "Rakuten: Earn Up To 40% Cashback + $10 Sign Up Bonus" The post Rakuten: Earn Up To 40% Cashback + $10 Sign Up Bonus appeared first on...

    Rakuten cashback can help you save money when shopping online! Most of us shop online anyway; wouldn’t it be nice to get some cash back along the way? Currently, Rakuten offers up to 40% cashback on your purchases. Plus, you receive $25 referral bonus and a 10$ bonus when you sign up.  

    Keep reading to learn how you can earn Rakuten cashback on your purchases.

    What is Rakuten and how do you get cashback?

    Rakuten (formerly known as Ebates) is a website that gives you a percentage off when you shop online. Rakuten is a legit website with an A rating from the Better Business Bureau (BBB).

    To get cashback from Rakuten, you simply go to their website www.rakuten.com, or the Rakuten app. You then create or login to your account. There are over 2,500 stores. All of the major stores are in there. They include the best retailers like Amazon, Macy’s, Walmart, Best Buy, Home Depot, you name it. Besides cash back, you also get discounts special promotions and store deals.

    Earn 40% cashback when you shop through Rakuten

    When you shop through Rakuten at your favorite store, you have the opportunity to earn up to 40% cashback. Each store will list how much cash back you will earn.

    There are no fees, no forms to fill out. You simply click on the store of your choice and start earning cash back on your purchases.

    How to earn $10 bonus from Rakuten?

    Not only will you get cash back on your purchases through Rakuten, you will also receive a $10 bonus just to sign up. But in order for you to get cash bonus, you’ll have to spend at least $25 dollars shopping at your store through Rakuten shopping portal. Join Rakuten for free and get a $10 bonus money today just for signing up.

    How do you get your free money from Rakuten?

    You get your free money by getting a check or via PayPal payment. Rakuten will send you your free money every quarter.

    The bottom line is if you’re going to shop online, why don’t you get cashback on your purchases. As long as you are buying things you need, it makes sense to sign up for Rakuten which offers cashback from retailers on clothing, beauty supplies, groceries, ect. This free money can go towards your bills and pay down your debt.

    SAVINGS ACCOUNTCIT Savings Builder – Earn 0.85% APY. Here’s how it works: Make at least a $100 minimum deposit every month. Or Maintain a minimum balance of $25k. Member FDIC. Click Here to Learn More.

    The post Rakuten: Earn Up To 40% Cashback + $10 Sign Up Bonus appeared first on GrowthRapidly.


    How to Get the Best Deals From Bank of America?

    Bank of America, like most banks, offer several bonuses, either from their credit cards, checking or savings accounts. These deals can be either cash rewards, bonus points, etc. For example, open this credit card then you get a $200 cash rewards bonus. In the past, if you refer a friend, Bank of America would pay … Continue reading "How to Get the Best Deals From Bank of America?" The post How to Get the Best Deals From Bank of America? appeared first on...

    Bank of America, like most banks, offer several bonuses, either from their credit cards, checking or savings accounts. These deals can be either cash rewards, bonus points, etc. For example, open this credit card then you get a $200 cash rewards bonus. In the past, if you refer a friend, Bank of America would pay you $50 referral bonus. But Bank of America has discontinued the referral bonus when you refer a friend.

    SAVINGS ACCOUNTCIT Savings Builder – Earn 0.85% APY. Here’s how it works: Make at least a $100 minimum deposit every month. Or Maintain a minimum balance of $25k. Member FDIC. Click Here to Learn More.

    Bank of America “refer a friend & cash rewards” bonus program

    While Bank of America does not have a cash reward bonus when you refer a friend, there are cash rewards when you yourself get approved for a particular credit card.

    Cash Rewards Credit Card:

    • Receive $200 cash rewards bonus after you make $1,000 in purchases in the first 90 days. Also, you get to choose how to collect your rewards.
    • Plus, earn 3% cash back when you shop for: gas, online shopping, drug stores, home improvements, dining or travel.
    • Get 2% cash back at grocery stores and wholesale clubs.
    • Earn unlimited 1% cash back on all other purchases.
    • No annual fee. Go to Bank of America’s homepage to take advantage of this credit card referral bonus.

    Travel Rewards Credit Card

    • Earn 25,000 online bonus points when you make at least $1,000 in purchases in the first 90 days. You can redeem it for a $250 credit toward your travel purchases.
    • Earn unlimited 1.5 bonus points for every $1 spent on all purchases.

    Bank of America Premium Rewards Credit Card.

    Again Bank of America offers no referral bonus when you refer a friend, but this credit card has great deals and promotions.

    • 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening.
    • Earn 2 points for every 1$ spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
    • Get $200 in travel statement credit.

    Make sure you take a look at other Bank of America Promotions.

    In conclusion, if you’re looking for a cash reward deal when you refer a friend to Bank of America, you will not find any at this time. But there are several credit cards with great cash rewards. For more cash back deals, rewards or future referral bonus programs and promotions, check Bank of America’s deals here. The site guarantees no coupons or promo codes. You just activate your deals and go.

    Here are other popular Bank promotions deals!

    Speak with the Right Financial Advisor

    If you have questions about your finances, you can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

    *TOP CIT BANK PROMOTIONS*
    PROMOTIONAL LINKOFFERREVIEW
    CIT Bank Money Market1.00% APYReview
    CIT Bank Savings Builder0.95% APYReview
    CIT Bank CDs0.75% APY 1 Year CD TermReview
    CIT Bank No Penalty CD0.75% APYReview

    The post How to Get the Best Deals From Bank of America? appeared first on GrowthRapidly.


    CIT Bank Locations? Where Are They?

    CIT Bank locations: are there any near me? CIT Bank is an online only-bank, so, unfortunately, they do not have any physical locations. However, if you’re looking to know how to open a CIT Bank account beyond wondering if they have a location what are their current products and offers, then you have come to … Continue reading "CIT Bank Locations? Where Are They?" The post CIT Bank Locations? Where Are They? appeared first on...

    CIT Bank locations: are there any near me?

    CIT Bank is an online only-bank, so, unfortunately, they do not have any physical locations.

    However, if you’re looking to know how to open a CIT Bank account beyond wondering if they have a location what are their current products and offers, then you have come to the right place.

    *TOP CIT BANK PROMOTIONS*
    PROMOTIONAL LINKOFFERREVIEW
    CIT Bank Money Market1.00% APYReview
    CIT Bank Savings Builder0.95% APYReview
    CIT Bank CDs0.75% APY 1 Year CD TermReview
    CIT Bank No Penalty CD0.75% APYReview

    CIT Bank Locations

    CIT Bank has one office. It’s their headquarters located in southern California in Pasadena.

    The address is: 75 North Fair Oaks Ave, Pasadena, California 91103. However, you cannot just walk in there to do business, opening an account, etc.

    There is also no ATMs. Everything is done online.

    With their “echecking” account, CIT Bank will provide you with a card where you can use it at another bank’s ATM.

    However, CIT bank does not charge you any ATM fee. And if the bank charges you a fee, CIT Bank will reimburse you up to $15 every month.

    CIT Bank’s Products & Current Promotions

    While CIT Bank has no physical locations, it’s a great bank for those who are willing to have their savings online.

    So, if you’re looking to have access to branches, then CIT Bank is not for you.

    CIT Bank offers high yield savings accounts, money market accounts and CD accounts. They also have an “echecking” account. 

    SAVINGS ACCOUNTCIT Savings Builder – Earn 0.85% APY. Here’s how it works: Make at least a $100 minimum deposit every month. Or Maintain a minimum balance of $25k. Member FDIC. Click Here to Learn More.

    They offer competitive APYs, especially on their Savings Builder account, which is almost 20 times more than what a typical savings account would offer.

    The money market account is also very competitive, but it does not offer checking-writing privileges or a debit card.

    Their CDs also provide higher yields, offering both a fixed and variable-rate, including a no-penalty CD.

    CIT Bank Savings Builder

    Because CIT Bank has no locations, CIT Bank Savings Builder accounts are offered online, where you can earn a competitively high yield.

    The CIT Bank Savings Builder will allow you to earn 0.85% APY, but only if you make at least one monthly deposit of $100 or more.

    Or, if you keep a balance of at least $25,000. Interest in this high-yield savings account compounds daily to boost your earning.

    Click here to learn more about CIT Bank’s Savings Builder.

    CIT Bank Money Market Account

    The CIT Bank money market account is one of the best ones out there. Currently, the money market account offers a 1.0% APY.

    This is very competitive comparing to other MMAs.  Moreover, CIT Bank’s MMA has a required account minimum of only $100.

    Open a CIT Bank Money Market Account.

    CIT Bank Certificate of Deposits (CDs)

    CIT Bank has several terms CDs, which range from 6 months to 5 years.

    There is also a no penalty 11-month term, where customers can withdraw money with no penalty.

    CIT Bank also offers jumbo CDs, ranging from two to five years. You can open a term CD, including the no-penalty CD, with a minimum of $1,000.

    The Jumbo CDs require a minimum of $100,000.

    Click here to learn more about CIT Bank CDs.

    Contacting CIT Bank

    Given that CIT Bank has no locations, the best way to speak with a representative is by telephone or online.

    For online, simply go through their homepage.

    By telephone, call 1) 855-462-2652 (within U.S.) and 626-535-8964 (outside U.S.).

    Customer service is available from Monday through Friday from 9:00 a.m. to 9:00 p.m. ET; on Saturday from 10:00 a.m. to 6:00 pm ET.

    They closed on Sunday.

    Advantages and disadvantages of CIT Bank Savings Accounts

    Advantages:

    • No monthly fees on deposit accounts;
    • a minimum deposit requirement of $100;
    • Refunds ATM fees — because the bank does not have ATMs, it does not charge customers who use another bank’s ATMs. And if there is a fee, CIT will refund you up to $15 per month.

    Disadvantages:

    • No CIT Bank physical locations or ATM;
    • No 24/7 customer support — as with all high yield savings accounts, most inquiries are handled online. While live telephone is available, hours are limited.

    How to open a CIT Bank Savings account?

    As mentioned above, CIT Bank has no physical locations. So to open an account, simply go online through the CIT Bank homepage, and create the account there.

    You’ll need to provide your name, address, phone number, and ID. You’ll also need to provide your social security number.

    Note that CIT does not have any branches. Everything must be done online.

    If you’re opening a CIT Bank Builder Savings account, you will need to make an initial minimum deposit of $100.

    Bottom Line

    CIT Bank has no locations. So, everything is done online. CIT Bank offers competitive rates on its products. Its Saving Builder account is one of the most popular accounts out there, offering a 0.85% APY.  This yield is 15 to 20 times higher than what a regular savings account offer.

    Speak with the Right Financial Advisor

    If you have questions beyond CIT Bank locations, you can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

    *TOP CIT BANK PROMOTIONS*
    PROMOTIONAL LINKOFFERREVIEW
    CIT Bank Money Market1.00% APYReview
    CIT Bank Savings Builder0.95% APYReview
    CIT Bank CDs0.75% APY 1 Year CD TermReview
    CIT Bank No Penalty CD0.75% APYReview

    The post CIT Bank Locations? Where Are They? appeared first on GrowthRapidly.


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