Credit Karma online savings acct with 4.00% APY

What are your thoughts on this offering?

Eventually, I’ll switch from Vio, who once had the best rate, to Vanguard’s Cash Plus savings with a 4.25%. I’ve signed up for the VCP but unfortunately, it’s still in a Pilot phase and I’m not yet eligible.

Vanguard’s VMRXX money market account currently has a 4.76% 7 day SEC yield.

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I don’t know why I’d never thought of a money market account, especially given the fact that I’ve been with Vanguard for several years (with a Roth and Brokerage). Thank you!

Another question: Any advice on how to choose between VMRXX and VMFXX?

For a long time I have been chasing rates and opening new accounts here and there to get the current best rate. I think I’m done with that. I have accounts at Ally, Schwab, and Vanguard. Between regular savings rates at Ally and the MM rates at Vanguard and Schwab, it’s good enough for me. I also have some brokered CD’s at Vanguard that I got at 5%.

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I just heard Clark talk about Vanguard CD today. I didn’t know they offered them. Can you tell me where to find them on Vanguard’s site please?

I can never find them via their menus so I just go to the search bar and type “Brokered CDs”, that will lead you to them. After a click or two you’ll find “Buy a CD” and that will take you to a site that shows Brokered CDs and Treasuries. On the brokered CD line you’ll see the length in months and the highest yielding percent CDs for that time period. Click on the interest rate/time period you’re interested in and you’ll get a list of the banks offering them. You can decide which one to get from there. I pick ones that pay interest monthly and are not callable.

Yes, it made it easier bc I was already at Vanguard, esp. since they use VMRXX as my sweep account so it was already set up. I’m tired of having accounts at too many different banks. I believe those two mma’s are tied to different bases, like treasury, muni bonds, etc. You can google it or check on VG’s website to determine what index [for lack of a better term] backs it, then make a decision based on which you think is better or safer in this economy. I had VMRXX for several years in which it didn’t even make a penny of interest so I intend to watch closely and move my savings when rates decrease. Last time I checked VMRXX and VMFXX were fairly close in rates. If you have a Personal Advisor managed account, you can set up a phone appointment with an advisor. If not, and you don’t mind waiting on hold, you can call their general number to ask.