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Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 12:48 am
by teelainen
With the Chase Premier Plus Checking account, you need to maintain at least $15,000 in order to waive the $25 monthly fee.

The $15,000 can be in any combination of this checking account and other linked accounts.

Unfortunately, their checking and savings accounts pays almost zero in interest.

Has anyone figured out another way to get the Chase Premier Plus Checking for free each month AND still earn a great interest rate on the $15,000 that you have there?

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 1:03 am
by stungerz
Here’s a work around. A You Invest account is considered a link account. I opened a You Invest Roth IRA and transferred $20k in it from another retirement account.
Boom! Now I only keep a minimum amount in it.

Cheers!

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 1:30 am
by unclescrooge
I opened a you invest account and put $25k in a Muni bond ETF.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 6:44 am
by arf30
Looking at the fees on the premier plus account make it seem like a pretty bad checking account - but the easiest way to meet the minimum is to just buy VMMXX in a YouInvest account

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 7:22 am
by tibbitts
I downgraded to regular checking to avoid the Premier Plus fee, but that was before YouInvest so maybe I should rethink that. For many years I had a tiny business checking balance and that was enough to get me the upgraded checking. You do get a safe deposit box with the upgraded checking. I hesitate to have yet another account, although I do already have my Chase regular checking and a CD (for the opening bonus.)

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 7:23 am
by tibbitts
arf30 wrote:
Sat May 11, 2019 6:44 am
Looking at the fees on the premier plus account make it seem like a pretty bad checking account - but the easiest way to meet the minimum is to just buy VMMXX in a YouInvest account
I never had a fee - what fees are there (assume you don't write bad checks, etc.)?

Chase says free ETF and stock trades - any mutual fund too?

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 8:24 am
by MBB_Boy
Is there a reason you're limiting yourself to this checking account? There are so many free options out there, plenty which also pay no interest.

And some that pay quite a bit - like SoFI at 2.25%

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 8:35 am
by teelainen
stungerz wrote:
Sat May 11, 2019 1:03 am
Here’s a work around. A You Invest account is considered a link account. I opened a You Invest Roth IRA and transferred $20k in it from another retirement account.
Boom! Now I only keep a minimum amount in it.

Cheers!
stungerz, thanks for this work around tip. Do you know what the minimum amount is for opening a You Invest account?

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 8:39 am
by DrGoogle2017
I have regular checking account, no fee, you only need to keep $1500. I used this account to get money out of ATM abroad, didn’t want large balance since any crooks can get a hold of it for some reason. Now I just use Penfed for ATM abroad.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 9:53 pm
by classicindexer
teelainen wrote:
Sat May 11, 2019 8:35 am
stungerz wrote:
Sat May 11, 2019 1:03 am
Here’s a work around. A You Invest account is considered a link account. I opened a You Invest Roth IRA and transferred $20k in it from another retirement account.
Boom! Now I only keep a minimum amount in it.

Cheers!
stungerz, thanks for this work around tip. Do you know what the minimum amount is for opening a You Invest account?
I think it's $0 and really just depends on the initial minimum purchase of what you want to buy (stocks, ETFs or mutual funds). We opened a taxable You Invest brokerage account to continue meeting the $15k Chase minimum for accounts linked to our Premier Plus checking and moved a lot of money from savings over to You Invest in the VMMXX money market mutual fund. A lot of Vanguard mutual fund admiral shares have a $1 initial minimum purchase in You Invest vs. the $3k at Vanguard.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 10:05 pm
by Pepper11
what is the APR. Its not even listed on their website

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 10:52 pm
by G3VALD1G
A Chase brokerage account with any holding off over 15k should qualify. I've been doing this for years. Another good thing about the Chase premier checking account is that you get a free safe deposit box. That's another $75 dollars in annual value.

The general value of Chase Bank is that checks clear extremely fast compared to other banks.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sat May 11, 2019 11:26 pm
by teelainen
MBB_Boy wrote:
Sat May 11, 2019 8:24 am
Is there a reason you're limiting yourself to this checking account? There are so many free options out there, plenty which also pay no interest.

And some that pay quite a bit - like SoFI at 2.25%
Because there are a lot of Chase branch locations across the country. It's convenient. This checking account also gives you a free safe deposit box, free checks, no fees for using non-Chase ATMs, free money orders, free cashier's checks, and more.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Sun May 12, 2019 6:01 am
by xb7
For those that have served in the armed forces (and were honorably discharged), Chase waives the minimal balance or monthly fee... just bring in proof of honorable discharge.

I haven't gotten around to doing this yet and converting my standard checking account, but plan to. No huge benefits, but maybe save on a fee here or there as I recall.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Fri Jun 28, 2019 9:42 am
by teelainen
unclescrooge wrote:
Sat May 11, 2019 1:30 am
I opened a you invest account and put $25k in a Muni bond ETF.
unclescrooge, which Muni bond ETF did you buy?

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Fri Jun 28, 2019 9:46 am
by unclescrooge
teelainen wrote:
Fri Jun 28, 2019 9:42 am
unclescrooge wrote:
Sat May 11, 2019 1:30 am
I opened a you invest account and put $25k in a Muni bond ETF.
unclescrooge, which Muni bond ETF did you buy?
At the time MUB, and subsequently SUB as rates have dropped.

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Fri Jun 28, 2019 9:50 am
by teelainen
unclescrooge wrote:
Fri Jun 28, 2019 9:46 am
teelainen wrote:
Fri Jun 28, 2019 9:42 am
unclescrooge wrote:
Sat May 11, 2019 1:30 am
I opened a you invest account and put $25k in a Muni bond ETF.
unclescrooge, which Muni bond ETF did you buy?
At the time MUB, and subsequently SUB as rates have dropped.
unclescrooge,

The 30-day SEC Yield on MUB is 1.87% and Distribution Yield (TTM) is 2.48%

The 30-day SEC Yield on SUB is 1.38% and Distribution Yield (TTM) is 1.49%

Why did you switch to SUB?

Re: Chase Premier Plus Checking - How to earn maximum interest?

Posted: Fri Jun 28, 2019 2:00 pm
by unclescrooge
teelainen wrote:
Fri Jun 28, 2019 9:50 am
unclescrooge wrote:
Fri Jun 28, 2019 9:46 am
teelainen wrote:
Fri Jun 28, 2019 9:42 am
unclescrooge wrote:
Sat May 11, 2019 1:30 am
I opened a you invest account and put $25k in a Muni bond ETF.
unclescrooge, which Muni bond ETF did you buy?
At the time MUB, and subsequently SUB as rates have dropped.
unclescrooge,

The 30-day SEC Yield on MUB is 1.87% and Distribution Yield (TTM) is 2.48%

The 30-day SEC Yield on SUB is 1.38% and Distribution Yield (TTM) is 1.49%

Why did you switch to SUB?
Missing from your post is the duration for each fund.

Based on tomorrow's trade discussion, rates could spike if an agreement is reached.

I didn't want all my money on the other end of that trade.