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With the continued drop in rates for online savings accounts, I'm sure a lot of people have considered moving their money around.
But if you've moved your money around a lot recently, you might be a rate chaser.
So, we want to know: are you a rate chaser?
Do you go after the promotional deals? Open up new accounts for .05% higher APY? Move your money around every 3 weeks?
Are you a rate chaser? Let us know in a comment.
I am staying with E-Trade for now as they are still at 5.05%. If they start to drop rates, I will then start chasing rates.
I've stuck with ING Direct for about 2 years now
I'm not a rate chaser. In fact, my whole financial advising business revolves around a buy and hold strategy. But after ING slashed 45 basis points off their rates for Orange Savings today, I may be moving my money. I know their move simply reflects the Fed cuts, but that equates to a reduction of 65 basis points since September 2007, and a whopping 85 basis point reduction since May 2006.