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Keep the Change

October 16th, 2008 at 06:41 pm

Anybody currently or formerly used the Keep the Change offered by BOA? They round up purchases to the next dollar and transfer the difference to their "High Yield Savings" (high of 0.5%). Anyways, they match your contributions. 100% for the first 3 months and 5% there after, up to $250. Was just wondering if it would be worth opening the account just to have the match, after all, free money. Any thoughts on this would be welcomed. I would not plan on transferring all my savings there because of the low APY.

3 Responses to “Keep the Change”

  1. chalatenango Says:

    i on't like the idea of this type of program. If you think about it, you have to use your card..(i,.e SPEND MONEY) to save a few pennies. (WHy not throw that money directly and in its entirety in the savings account). This programs only promotes spending...spend .75 to have a quarter transfered.
    Got it?

  2. djudah Says:

    I understand that, but if I were going to be spending anyways, I was thinking free money would be good. Anyways, I just talked to one of their reps, you have to sign up for their crummy savings account, which I refuse to do. So this idea is dead, no harm no foul.

  3. Ima saver Says:

    No, I wouldn't do it. I have a credit card that pays me back every month, ususally $50. And I can get 3.1% interest on my local savings and checking.

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