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Separate accounts here, she pays some bills and I pay others. We transfer money between us in the event of a large expense, like booking flights/hotels for a trip together. We've had the "what if one of us loses our job / changes careers / has a health emergency" talk and are comfortable keeping the other afloat, though we'd have to tighten our belts. Banking together and separately each make sense to me, all up to the people involved. My grandpa thinks we're nuts, but unbeknownst to him, grandma hated having a shared account with him running/overseeing everything. Wife and I are transparent with our balances and I trust her, so 
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Jan 9, 2023 22:33
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| # ¿ May 10, 2024 04:29 |
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I have a Fidelity banking question, someone help me roll a sanity check... My Cash Management Account with Fidelity used SPAXX for its core position for the longest time, as in multiple years. I didn't pay attention to the expense ratio at the time, partly because I was younger and less informed back when I opened the account. Now interest rates are looking pretty favorable, and my CMA's core position is split across three different tickers that start with a Q, are FDIC insured, and are technically held by external partner banks like Wells Fargo and Citi. If I try to change the core position, I get a message saying it cannot be changed. A Fidelity rep tells me that SPAXX is still available as an investment option, just not a core one. ...is there something fishy here? It seems to me that Fidelity was happy to default me into SPAXX when it made them an easy profit, but now that rates would force SPAXX to pay out, the default position is some workaround conjured with banks other than the one for which I signed up. Buying a bunch of SPAXX isn't a big deal, but having to uncover the switcharoo kind of is, unless there was some big announcement and I missed it. I'm about ready to shuffle to another bank/credit union. Am I overreacting or simply sniffing out the dirty truth?
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Feb 8, 2023 02:35
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Again, my own naivete on display here, but I also notice that past blog posts about "which Fidelity core position should I use" (because they were always changeable until somewhat recently) cited SPAXX as having a 0.06% expense ratio. Now the ER is 0.42%. Did Fidelity try to have it both ways - increase the price of their money market fund for anyone who bothers to opt into it, but push customers out of them to save themselves from paying out the interest (seven-day yield sits at 3.96%)?
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Feb 8, 2023 02:50
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H110Hawk posted:Why are you worried about your core positions interest and not the fdic insurance provided by those sweep accounts? (The three bank positions you see.) I understand the value of FDIC insurance but care more about return on idle cash coming from a financial behemoth like Fidelity. Also, the 2008 crash and everything Wells Fargo has been a part of since has made me terribly allergic to any account touching them, probably an overreaction on my part but that's my deal. Shifting checking, direct deposits, and credit card business to Alliant has proven simple enough. Fidelity can remain my brokerage while Alliant serves as my bank. NCUA insurance checks out.
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Feb 10, 2023 20:31
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Alliant added $300 to my savings account as part of some year-old promotion I don't remember entering but also will not refuse.
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Feb 3, 2024 21:19
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root of all eval posted:I've also never known of businesses treating debit as a cash transaction for pricing perks or transaction fees. I assume they are paying network fees regardless? Debit card bonuses would be more of a thing except Congress slashed how much issuers can charge for debit transactions, which means no budget for making debit use sexy. I have also noticed stores/restaurants adding an upcharge for credit and debit alike, even if debit should result in a much lower merchant fee. Recent threats of legislation over credit card merchant fees have convinced Visa and MasterCard to agree to limit their merchant fees, which will likely have a chilling effect on the world of card points. We shall see! On the fraud topic: I've had to call (Chase and Alliant) fraud departments before over bad charges on credit cards and they were wiped out instantly. A friend had something similar happen on their Fidelity debit card and it was solved pretty quickly. Don't know if all debit carriers can say the same.
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Apr 29, 2024 21:38
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Do you have an old credit card or form of debt that would have been deleted or no longer counted toward your credit score?
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May 1, 2024 04:04
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Hadlock posted:You get one free credit report per year, I'd do that and get the full download, vs just a summary like you get with the free service FYI for people who recommend AnnualCreditReport.com -- people can now get a free credit report every week instead of once a year. It was originally a temporary expansion that all three credit bureaus agreed to expand to weekly. Rampant fraud!
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May 1, 2024 05:25
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| # ¿ May 10, 2024 04:29 |
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Hadlock posted:Why do you say rampant fraud Speculation that there have been so many data breaches and more online vectors for fraud than ever, to the point that weekly credit checks may as well be a thing. The checking is fine, of course!
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May 1, 2024 18:48
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